After a long review of the bankruptcy of retail marketer Iroquois Energy Management in 2000, New York energy regulators have approved new financial requirements for retail gas and power marketers who offer prepayment plans or require deposits from customers. The requirements are designed to strengthen consumer protections in New York’s competitive energy markets.
Insurance
Articles from Insurance
Futures Eke Out Small Gain in Quiet Session
For the fifth week in a row, natural gas futures climbed higheron Friday, as traders loaded up on a little bit of storm insuranceahead of the weekend. Their fear, whether warranted or not, is thatthe market will spike higher Monday morning on the news that a fullscale hurricane is bearing down on gas production assets in theGulf of Mexico. And while it seemed a very unlikely event as ofpress time Friday, it was enough to promote the September contractup 3 cents to $4.436 in a very quiet session.
August 21, 2000
Investor Group Buys MidAmerican Energy Holdings Co.
An investor group including Berkshire Hathaway Inc., a holdingcompany primarily involved in the property and casualty insurancebusinesses, jumped into the energy sector yesterday by purchasingMidAmerican Energy Holdings Co. for over $2 billion. Overall, thetotal enterprise value of the transaction is $9 billion.
October 26, 1999
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