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After losing a court battle that would have nullified theacquisition, FPL Energy Inc. announced last week it closed thedeal to obtain Central Maine Power Co.’s (CMP) non-nucleargenerating assets. The transaction is expected to be completed inApril.

After losing a court battle that would have nullified theacquisition, FPL Energy Inc. announced Thursday it closed the dealto obtain Central Maine Power Co.’s (CMP) non-nuclear generatingassets. The transaction is expected to be completed inApril.

Destin Pipeline Co. has filed at FERC to have cost limitationson its “CNG Lateral” waived in light of delays that pushed theproject’s cost to $35.1 million, well above $19.6 million allowedfor in the Commission’s certification of the project last year(Docket No. CP98-238).

Destin Pipeline Co. filed at FERC last week to have costlimitations on its “CNG Lateral” waived in light of delays thatpushed the project’s cost to $35.1 million, well above $19.6million allowed for in the Commission’s certification of theproject last year (Docket No. CP98-238).

After enumerating eight features any “win-win” upstream dealneeds to have, Exxon Exploration Co. President Jon L. Thompson toldattendees at the Cambridge Energy Research Associates executiveconference in Houston Tuesday that his company will be walking awayfrom “bad deals.

Nicor and Dynegy Inc. have begun construction on a 250 MWgas-fired, peak-demand power generation facility in the Village ofEast Dundee, IL. The two companies said they plan to market theelectricity generated at the Rocky Road Power facility in thewholesale market to investor-owned utilities, electric cooperativesand municipalities when commercial operations get underway thissummer.

Companion bills have been introduced in the Texas legislature togive small producers a break on gas and oil severance taxes inlight of foundering commodity prices. If enacted, legislation wouldtrigger a temporary suspension of severance taxes on productionfrom certain wells.

Companion bills have been introduced in the Texas legislature togive small producers a break on gas and oil severance taxes inlight of foundering commodity prices. If enacted, legislation wouldtrigger a temporary suspension of severance taxes on productionfrom certain wells. Relief would be triggered if the three-monthaverage price for gas hits $1.89/Mcf (NYMEX) or $15/barrel (NYMEX)for oil.. When the price trigger is reached, the severance taxwould be suspended until the three-month average rises above thetrigger price. Severance tax relief would apply to oil productionfrom leases with wells averaging 15 barrels/d or less and to gasproduction from leases with wells averaging 90 Mcf/d or less. Ifpassed by the legislature, the measure would take effectimmediately and last until Aug. 31 or until $45 million in taxrelief has been granted, whichever comes first.

Fundamental weather demand didn’t change much, so it must havebeen the impetus from a rising Henry Hub futures contract thatallowed cash prices to post widespread small gains Tuesday, sourcessaid. Few of the increases were much more than 1-3 cents except forSumas, where prices rose as a force majeure remained in effect atWestcoast’s McMahon Processing Plant (see Transportation Notes).