Hurdle

Although one hurdle has been cleared from the path of the C$7 billion Mackenzie Valley natural gas pipeline, many remain, project sponsors emphasized last week following an economic development deal signed by the Canadian government and the Deh Cho First Nations. The deal resolved one of the major issues preventing development of the long proposed project.

Although one hurdle has been cleared from the path of the C$7 billion Mackenzie Valley natural gas pipeline, many remain, project sponsors emphasized. The economic development deal signed by the Canadian government and the Deh Cho First Nations resolved only one of the major issues preventing development of the long proposed project (see Daily GPI, July 12).

FERC on Thursday approved the mega-merger between Exelon Corp. and Public Service Enterprise Group (PSEG), marking a key regulatory hurdle that the transaction needed to vault. FERC signed off on the deal at its latest open meeting, but said that the two companies will also need to make a number of compliance filings at the Commission in the wake of this week’s decision.

South Dakota-based NorthWestern Energy announced Wednesday it has cleared the last pending hurdle in its post-Chapter 11 bankruptcy reorganization by reaching an agreement in principle to settle all pending legal actions, appeals, claims and disputes involving the utility holding company and Magten Asset Management Corp. and Law Debenture Trust Co. of New York LLC.

South Dakota-based NorthWestern Energy announced Wednesday it has cleared the last pending hurdle in its post-Chapter 11 bankruptcy reorganization by reaching an agreement in principle to settle all pending legal actions, appeals, claims and disputes involving the utility holding company and Magten Asset Management Corp. and Law Debenture Trust Co. of New York LLC.

FERC on Thursday issued a letter order clearing the way for Merrill Lynch Commodities to buy the energy trading operations of Entergy-Koch LP., a joint venture of Entergy Corp. and Koch Industries Inc., a deal first unveiled last month (see Daily GPI, Sept. 3).

UniSource Energy Corp.’s efforts to complete its proposed sale to Saguaro Utility Group LP, a private investment-backed consortium, before the year is over took another step forward last week after federal regulators gave their blessing to the transaction.

A new hurdle popped up in the path of the Mackenzie Gas Project today (Sept. 2) when one of four aboriginal communities along the proposed pipeline route filed a lawsuit demanding seats on the government panel that will conduct the development’s environmental review.

In record time — just over five hours — Enron Corp.’s lawyers last Tuesday managed to complete a list of 51 categories of objections during a key bankruptcy hearing in Manhattan, which ended with the court ruling that it will allow the company’s disclosure statement to be sent to creditors for a preliminary vote.