Reliant Energy, formerly Houston Industries, has purchased theretail gas marketing assets of Commonwealth Energy Systemsubsidiary COM/Energy Marketing for an undisclosed sum. The assetsprimarily are made up of contracts with more than 2,000 energycustomers in Massachusetts, Rhode Island and Connecticut, twooffices in Massachusetts and a 10-person marketing team.
Articles from Industries
TPC Corp. is changing hands yet again as PacifiCorp unloads yet another non-core asset. NIPSCO Industries subsidiary NI Energy Services is buying Houston-based TPC for $132.5 million. The deal also involves a payment for working capital to be determined at closing. NI Energy Services also gets PacifiCorp’s 66% interest (held by TPC) in Market Hub Partners LP (MHP).
TPC Corp. is changing hands yet again. This time NIPSCOIndustries subsidiary NI Energy Services is buying Houston-basedTPC for $132.5 million from PacifiCorp. The deal also involves apayment for working capital to be determined at closing. NI EnergyServices also gets PacifiCorp’s 66% interest in Market Hub PartnersLP (MHP)
NIPSCO Industries, Inc. subsidiary Crossroads Pipeline isshooting for a 300% increase in system throughput with an extensionof its Midwest pipeline system to new interconnects with NorthernBorder Pipeline and Natural Gas Pipeline Company of America.Crossroads plans to hold an open season for an additional 500,000Dth/d of firm transportation services beginning Feb. 16 andconcluding March 31. The system currently transports about 150,000Dth/d from a connection with NGPL in Schererville, IN, to aconnection with Columbia Gas at Maumee, OH.
Union Pacific Fuels and three Wichita, KS-based affiliates ofKoch Industries exchanged certain gas and gas liquids assets inEast Texas and Southern Louisiana. The Koch companies will receivea portion of Union Pacific’s interest in the Panola Pipeline, whichruns from Carthage, TX, to Mont Belvieu, TX. In addition, the Kochcompanies will receive Union Pacific’s interest in the Mont BelvieuI fractionator as well as the Patterson and Calumet gas plants inSouthern Louisiana.
Koch Industries and the Royal Bank of Canada have formed astrategic alliance to jointly market energy-related trading andderivatives products to clients in North America andinternationally. The alliance is designed to provide the RoyalBank, which is one of the world’s top foreign exchange banks, with $30 billion/day in transactions, direct access to energy industryinformation and a broader array of energy derivative products, suchas weather derivatives. The deal gives Koch a connection to aworldwide collection of investment clientele. Royal Bank and itssubsidiaries serve 10 million clients through more than 1,500branches and offices located in 36 countries.
NGC Corp. announced it is reorganizing its marketing and tradingoperations to reflect continued convergence of the gas and powerindustries and to “meet growing and different customer demands fora single source supplier.” In particular, the company announcedplans to combine the trading functions of Natural Gas Clearinghouseand Electric Clearinghouse, its gas and power marketing operations,and to make its gas liquids business a separate enterprise.
Houston Industries Power Generation (HIPG) completed its $237million acquisition of four gas-fired generating plants totaling2,276 MW from Southern California Edison. HIPG had submitted thewinning bids for SCE’s Ellwood, Mandalay, Etiwanda and Cool Waterplants, which have been renamed Oeste, Ocean Vista, Mountain Vistaand Alta Power, respectively.