FERC Chairman James Hoecker said yesterday the Commissionintends to proceed with a vote on the hotly contested MarketLinkexpansion next week despite New Jersey Gov. Christine ToddWhitman’s threat of a lawsuit if the project is approved.
Articles from Intends
The Justice Department has said it intends to go to court toseek civil penalties and an injunction against Williams’Transcontinental Gas Pipe Line Co. unless the two sides can reachan agreement over alleged violations involving polychlorinatedbiphenyl contamination (BCP).
AmerenCIPS, a subsidiary of Ameren Corp., filed with theIllinois Commerce Commission (ICC) a notice that it intends totransfer AmerenCIPS’ Illinois generating facilities and relatedpersonnel to a new non-regulated subsidiary. Ameren is a registeredholding company under the Public Utility Holding Company Act of1935 (PUHCA) and is the parent of the utility operatingsubsidiaries, AmerenCIPS and AmerenUE.
The Department of Defense intends to award the federalgovernment’s largest energy-saving performance contract ever toPepco Energy Services and Viron Energy Services. Pepco EnergyServices is a subsidiary of Potomac Electric Power Co. Viron EnergyServices is a subsidiary of York International Corp. President BillClinton announced the $200 million contract, designed to implementenergy-savings measures for the Military District of Washington(MDW). The MDW is a major Army command encompassing five Armyposts: Fort George G. Meade in Maryland; Fort Myer, Fort Belvoirand Fort A.P. Hill in Virginia; and Fort Lesley J. McNair inWashington, DC. More than 2,100 buildings were examined for energyimprovements. The 18-year MDW contract will result in about $220million in overall cost savings.
Sheridan Energy Inc. intends to form a joint venture withAmerada Hess Corp. to explore, develop and produce from all ofHess’s Sacramento Basin, CA, gas properties. The joint venture willalso seek to explore, develop and produce oil and gas from otherHess U.S. onshore and offshore properties. Sheridan has agreed tocontribute $58 million and other considerations, and Hess willcontribute its California properties along with certain other U.S.properties. The agreement is subject to due diligence and customaryconditions. The parties intend to sign a definitive agreement, byDec. 15 and to close the transaction not later than Jan. 15.Sheridan anticipates financing its contribution through additionalbank borrowings, cash flow and third party debt or equityfinancing. Should a joint venture agreement not be reached,Sheridan will proceed to acquire the California properties for $58million, closing Jan. 15.
Carolina Power & Light intends to either acquire a naturalgas supply or marketing company or strike a “strategic alliance”with one in a plan to offer customers “one-stop shopping” for theirmajor energy needs.