In an effort to restore price certainty in the markets, FERC at a minimum should implement standards requiring jurisdictional companies to show the agency that the natural gas price indexes referenced in their tariffs and contracts are reliable, said Commissioner William Massey last Wednesday.
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FERC’s Massey Favors Standards to Assure Reliability of Price Indexes
In an effort to restore price certainty in the markets, FERC at a minimum should implement standards requiring jurisdictional companies to show the agency that the natural gas price indexes referenced in their tariffs and contracts are reliable, said Commissioner William Massey Wednesday.
Senators Press FERC’s Wood to Abandon SMD Proposal
A group of U.S. senators last week urged FERC Chairman Pat Wood to drop his agency’s plans to implement its sweeping standard market design (SMD) for U.S. wholesale power market, advice that Wood declined to take, Sen. Peter Domenici (R-NM) told a gathering of reporters on Wednesday.
Vectren Revs Up Ohio Gas Choice Program
Almost a month after it received approval from the Public Utilities Commission of Ohio (PUCO) to implement a natural gas customer choice program, Vectren Energy Delivery of Ohio last week launched its customer education initiative for Vectren Choice Advantage (VCA).
Vectren Revs Up Ohio Gas Choice Program
Almost a month after it received approval from the Public Utilities Commission of Ohio (PUCO) to implement a natural gas customer choice program, Vectren Energy Delivery of Ohio launched its customer education initiative for Vectren Choice Advantage (VCA).
Transportation Notes
Sonat said Friday that based on system conditions and projected demand, it did not expect to implement an OFO Type 3 or Type 22 through Tuesday. “However, current forecasts show cold temperatures through the end of next week. We also expect an increase in load for the start of the gas day” Jan. 2, the pipeline continued, urging shippers to keep their after-hours contacts up to date in case an OFO became necessary to protect the system’s operational integrity. A hotline for OFO and system status updates is available at (800) 315-0575.
Avista to Conserve Cash, Reduce Capital Projects Through 2002
Avista Corp., headquartered in Spokane, WA, announced Wednesday it plans to implement several measures to improve its liquidity, conserve cash and reduce its debt. Rocked by internal problems and federal investigations of its Avista Energy unit that resulted in a $2 million fine, the company plans to sell 50% of its stake in the 280 MW Coyote Springs 2 power project under construction near Boardman, OR, to Mirant and reduce its utility capital expenditures by $15 million through the end of this year and another $40 million in 2002.
Industry Brief
Quest Resource Corp., a Kansas-based independent, has retained Carl Thompson Associates to implement a national investor relations program in the next 12 months. Quest Resource is primarily involved in the exploration, production and transportation of natural gas in a 500-square-mile area of southeast Kansas, operating a 150-mile natural gas pipeline network to serve local and interstate markets. Currently, Quest is producing approximately 2,000 Mcf/d from 40 wells. It plans to drill between 40 and 50 more wells a year in the next several years.
Southern Union Reorganizes, Reduces Employees
In an attempt to improve the company’s cash flow and earnings, Southern Union Co. said it intends to implement corporate reorganization and restructuring, a move it expects will save $35-40 million annually. As part of the restructuring, Southern Union said it is offering voluntary early retirement programs in some of its operating divisions and a limited reduction in workforce within its corporate division.
BPA Downgrades Rate Hike Considerably — to 46%
A concerted push by utilities and industries in the Pacific Northwest to implement load reductions means that the Bonneville Power Administration (BPA) will only have to raise wholesale power rates by 46% starting the first of October, a not insubstantial rate hike, but a far cry from the 250% or more increases being bandied about by the BPA just two months ago (see Daily GPI, April 11; June 8).