Southwest local distribution utilities and municipal distributors have called on FERC to reject, or convene a technical conference to consider, El Paso Natural Gas’ application to boost export capacity on the Samalayuca Lateral by about 100 MMcf/d to meet natural gas demand in northern Mexico. They argue that such action would deprive existing El Paso customers of already-tight capacity on the pipeline’s South Mainline.
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In order to continue to provide reliable natural gas and electric service to its customers, Madison Gas and Electric Co. (MGE) reported that it has filed an application with the Public Service Commission of Wisconsin that includes replacement power expenses for an extended outage at the Columbia Generating Station.
Laclede Gas Co. reported that it expects fiscal year earnings to be 15% to 23% higher than a year ago, in the range of $1.58 to $1.68 per share. They were $1.37 per share in 2000. However, this is below Wall Street estimates, the consensus of which is $1.86, according to Thomson Financial/First Call. Laclede said it will announce third-quarter earnings on July 26.
New summer nitrogen oxides (NOx) regulations, set to go into full effect in 2004, will result in widespread increases in electricity prices throughout the nation’s eastern markets, according to a new study issued by ICF Consulting, although at least for the short term, the rules are expected to assist in easing electric price pressure this summer in the Northeast.
The vibes were mostly positive in California last week with no blackouts, a new law creating a state power authority, initial work for the state’s record $13.4 billion municipal bond sale and a record $5.7 billion retail electricity rate increase being spread to the largest residential users and businesses of all sizes.
New summer nitrogen oxides (NOx) regulations, set to go into full effect in 2004, will result in widespread increases in electricity prices throughout the nation’s Eastern markets, according to a new study issued by ICF Consulting, although at least for the short term, the rules are expected to assist in easing electric price pressure this summer in the Northeast.
Sticking with its strategy of adding electric generating capability in key U.S. markets, PPL Corp. yesterday unveiled plans to build a 540 MW power plant near Chicago and, separately, to increase the capacity of its Susquehanna nuclear plant in Pennsylvania by 100 MW.
Even with the ink still not dry and final allocation stillundetermined on California’s record $5 billion electricity rateincrease approved Tuesday, state officials are already worried thatthe added revenues and state-backed bonds that will follow will notbe enough to pay the state’s wholesale power bill over the next 12to 18 months. However, those dire forecasts assume little or norelief from relentlessly high wholesale prices.
A day after it filed for a 35% rate increase, noting growinguncollected power costs, (see Daily GPI, Jan. 25) Sempra Energy reported a 20%increase in earnings in 2000 over 1999. Earnings for the parent of SanDiego Gas & Electric and Southern California Gas totaled $429million, or $2.06/diluted share, compared to $394 million or $1.66 perdiluted share for 1999. Revenues for 2000 increased 30% hitting $7billion.