A plan that calls for more than $420 million of transmission facility additions and reinforcements in the PJM region has been given the green light by PJM Interconnection’s board of managers. PJM Interconnection’s board of managers signed off on the second regional transmission expansion plan (RTEP) for the PJM region on Tuesday.
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Robert Ray took on a new position with Dynegy Inc. yesterday.The nine-year company veteran was named vice president of StrategicInvestments, a job which entails strategic planning, valuation ofcorporate mergers and acquisitions, as well as the company’sinvestment in other business opportunities. Ray has held a numberof positions within Dynegy, most recently the title of vicepresident of Corporate Finance.
Looking beyond rate freezes and charges for strandedinvestments, California regulators last Thursday opened the doorfor greater retail electric price fluctuations in a decisionallowing the state’s three major investor-owned electric utilitiesto buy and sell some of their power outside the state-mandatednonprofit power exchange (Cal-PX).
Looking beyond rate freezes and charges for strandedinvestments, California regulators Thursday opened the door forgreater retail electric price fluctuations in a decision allowingthe state’s three major investor-owned electric utilities to buyand sell some of their power outside the state-mandated nonprofitpower exchange (Cal-PX).
Producers are eating a bigger slice of the revenue pie,pipelines claim. Pipelines, however, are piling up a much greaterreturn for a much smaller investment, producers retort. And that’sjust the beginning of the arguments spawned by FERC’s probing thepossibility of lighter-handed regulation of pipelines, includingnegotiated terms and conditions.
None of Williams’ three main subsidiaries matched 1997 earningslevels, the company said Thursday, as it announced a total 1998 netincome of $140.7 million, or $0.31 per diluted share, down from$368.3 million, or $0.85 per diluted share in 1997. For the fourthquarter, Williams posted a net loss of $20.2 million or $0.05 perdiluted share versus a net income of $57.5 million or $0.13 perdiluted share in 1997. Company officials blamed poor marketconditions, large accrual and impairment amounts, and disappointingresults in the communications business as reasons for the poorperformance.
The Gas Research Institute rolled out the first line of targetedresearch offerings, in which companies can gain proprietary accessto technical solutions by forming a partnership with GRI andproduct manufacturers. It is GRI’s first step into the commercialworld where research is determined by market need.