The TransCanada Alberta system (NOVA) said Thursday it “understands the impact that the fire at the ethane facility near Fort Saskatchewan is having on the industry.” The pipeline is granting on a case-by-case basis a hydrocarbon dew point relief to shippers upon written request, pending downstream review. “At this point we have observed no adverse operational impacts on our system,” TransCanada said. “It has been determined that the overall heating value at Empress has remained steady, whereas the average heating value at ABC [Alberta/British Columbia border] has risen since Sunday…We have seen no significant reduction of overall field receipts and we are not aware of any major concerns for downstream transporters or end-users.” TransCanada noted that in light of a press release Wednesday by BP Canada, the ethane facility operator, “we understand that there is a plan to reactivate a liquid pipeline system. Although there are no immediate plans to extinguish the fire, they do expect the duration of the fire to last at least two weeks.”
Impact
Articles from Impact
Entergy to Beat 2Q Consensus by 5%, Divests UK Plant
Despite decreased earnings from its wholesale operations and the impact of normal weather, Entergy Corp. indicated last Thursday that it is confident its second quarter 2001 earnings will be at least 5% higher than the current published First Call earnings consensus of $0.91 per share. The company attributed the strong results to “excellent performance” in its competitive businesses.
Entergy to Beat 2Q Consensus by 5%, Divests UK Plant
Despite decreased earnings from its wholesale operations and the impact of normal weather, Entergy Corp. indicated on Thursday that it is confident its second quarter 2001 earnings will be at least 5% higher than the current published First Call earnings consensus of $0.91 per share. The company attributed the strong results to “excellent performance” in its competitive businesses.
S&P Survey: CA to Slow Spread of Electric Dereg
If there was any question remaining that the California crisis would have a negative impact on the electric deregulation progress around the rest of the nation, it has been answered, and the response is ‘yes.’ Three quarters of the utility regulators across the nation polled said that the financial, reliability and political consequences of the California snafu will slow, or even halt, the spread of deregulation to their states, according to a recent national survey created by Standard & Poor’s and conducted by RKS Research & Consulting.
S&P Survey: CA to Slow Spread of Electric Dereg
If there was any question remaining that the California crisis would have a negative impact on the electric deregulation progress around the rest of the nation, it has been answered, and the response is ‘yes.’ Three quarters of the utility regulators across the nation polled said that the financial, reliability and political consequences of the California snafu will slow, or even halt, the spread of deregulation to their states, according to a recent national survey created by Standard & Poor’s and conducted by RKS Research & Consulting.
Impact of Energy Crisis Assessed
Business customers of the investor-owned utilities in California are increasingly concerned about the lingering energy crisis that has spiked electricity and natural gas prices and fomented uncertainty about supplies, according to an analysis by the Los Angeles County Economic Development Corp. (LAEDC).
Enron’s Energy Services Poised to Deliver
With or without deregulation, the impact of rising energy costswill increase the demand for Enron’s growing product base,especially in its services area, offering even more leverage forNorth America’s largest wholesale marketer. Lou Pai, CEO of EnronEnergy Services LLC, provided an overview of his division at theannual investor’s conference last Thursday in Houston, calling theopportunities for growth are tremendous.
Industry Briefs
KeySpan Corp. said yesterday it anticipates its 2000 earnings,excluding the impact of any transaction or restructuring charges,will be $2.40 per share, significantly ahead of the current FirstCall consensus estimates of $2.28 per share. Strong earnings areexpected to result from solid performances across all businesssegments, especially from the electric, exploration, and productionsegments. In addition, the energy-services business should reportits first annual profit in 2000. “We expect to be able to increaseour earnings in 2001 by 10%, ranging from $2.60 to $2.65 per share,well ahead of the current First Call consensus of $2.48 per share,”said CEO Robert B. Catell. KeySpan has had a record level of gascustomer conversions from oil to natural gas, primarily on LongIsland. In addition, more than 1 MMcf of mainline gas distributionpipe is expected to be installed this year as the system isexpanded to serve new areas. In New England, the company intends toachieve its growth targets resulting from the acquisition ofEastern Enterprises and EnergyNorth. Currently, the companyestimates that the special charges resulting from acquiring EasternEnterprises and EnergyNorth in November will amount to $75 million,which will be reported in the fourth quarter. Including thesecharges, earnings per share for fiscal year 2000 are expected torange from $2.05 to $2.10. KeySpan is the largest gas distributorin the Northeast, with 2.4 million gas customers and more than13,000 employees. KeySpan also is the largest investor-ownedelectric generator in New York State and operates Long Island’selectric system.
BLM Expands Oil Pipeline Review
The Bureau of Land Management (BLM) is taking no chances in thewake of the Carlsbad, NM, natural gas pipeline explosion. It hasordered a full Environmental Impact Statement (EIS) on a proposalto refurbish and put back into service the Equilon Pipeline, a406-mile, 42-year old crude oil pipeline from Odessa, TX toBloomfield, NM.
AGA Changes Storage Report, Highlights 5-Year Average
In a move that had an immediate bearish impact on the naturalgas market last week, the American Gas Association (AGA) decided tobegin publishing a five-year average of gas storage levels in itsweekly storage report. Since the five-year average is much closerto current levels than last year’s abnormally high working gaslevels, the new information gave the market a much different viewof industry fundamentals. The combination of the new average andlast week’s huge 97 Bcf injection knocked nearly a quarter offAugust futures prices on Wednesday.
