Hoping to relieve stranded costs due to state deregulation,Montana Power Co. (MPC) announced Tuesday that its MPC Natural GasFunding Trust issued $62.7 million worth of asset-backed transitionbonds in a private placement. There was a 6.2% coupon on the bondsissued. The utility said proceeds from these bonds will be used toreduce its outstanding debt and equity.
Articles from Hoping
Fort Worth-based Richardson Products Co., the marketing arm ofSid Richardson Gasoline Co., is hoping to follow the footsteps ofAquila Gas Pipeline (AQP) of San Antonio, TX, into third-party gasmarketing. The company picked up four AQP employees to accomplishits goal.
Fort Worth-based Richardson Products Co., the marketing arm ofSid Richardson Gasoline Co., is hoping to follow the footsteps ofAquila Gas Pipeline of San Antonio, TX, into third-party gasmarketing. The company is expanding into marketing of third-partynatural gas and adding risk management products. RichardsonProducts recently grew its staff by five, four of whom come fromAquila Gas Pipeline where they started a successful third-partymarketing business. Richardson Products last year marketed 100 to130 MMcf/d of gas last year. Jim Wade, newly hired vice presidentof marketing and business development, said plans are to initiallydouble that number and then market about half a Bcf/d in the firstquarter of next year, all physical gas. Expectations are for abouta Bcf/d in financial volumes.
Marketers hoping to capitalize on the deregulating energymarketplace would be wise to examine the strategies used in otherderegulated businesses, according to a paper by The Paladin Group.Paladin said energy marketers could fail by repeating mistakes ofthe past.