Seeking to improve on their various generation plays across thecountry, Panda Energy International, Inc., signed an $800 millionlong-term service agreement contract with GE Power Systems coveringsix power plants currently under development, Panda said yesterday.The service agreements and commitment represents purchases of 24gas turbines and 12 steam turbines.
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Aquila Disbands its Industrial Sales Team
In a move to improve organization and reduce overlap, AquilaEnergy laid off all 34 members of its industrial gas sales team.Their work will be picked up by Aquila’s commercial gas sales team,located in Columbus, OH.
FERC Increases Filing Requirements for Power Marketers
In an effort to improve its power market monitoring capabilitiesin light of the price spikes and market disruptions that occurredlast summer, FERC last week changed the reporting requirements forthe 500-600 licensed power marketers.
FERC Increases Filing Requirements for Power Marketers
In an effort to improve its power market monitoring capabilitiesin light of the price spikes and market disruptions that occurredlast summer, FERC yesterday changed the reporting requirements for600 power marketers. The Commission said it intends to remove awaiver of its rules that was granted to power marketers and powerproducers with market-based rates that allowed them to refrain fromfiling their long-term contracts with their customers. The changeputs power marketers on a more level playing field with traditionalutilities, which currently have to file their long-term agreements.
KN Energy Splits Stock Three For Two
In an effort to encourage retail stock ownership and improveshare liquidity, the KN Energy board of directors announcedWednesday shareholders of record at the close of business Dec. 15will receive a three-for-two stock split and a 7.1% increase inquarterly dividends. The stock will be distributed and the increasewill be paid concurrently on Dec. 31.