Investor

The investor consortium seeking to buy Puget Sound Energy (PSE) said Wednesday that the Washington Utilities and Transportation Commission (WUTC) has notified all parties in the case that a final step in the regulatory process — the filing of reply briefs — is scheduled for Oct. 23, after which the state regulatory panel can make its final determination. That is the last remaining regulatory approval needed to close the $7.4 billion deal.

November natural gas futures tracked lower once again Wednesday along with major markets as investor confidence remained shaky despite a wave of global interest rate cuts. The Dow Jones Industrial Average fell another 189 points on the day, while November crude futures dropped $1.11 to close at $88.95/bbl and November natural gas futures shaved 2.6 cents to close at $6.742.

Under an Oregon law designed to true up private-sector utility tax payments and retail rates annually, the state’s major investor-owned utilities have filed their 2006 tax reports with the Oregon Public Utility Commission (PUC). Regulators said last Wednesday they will launch a proceeding to review the filings.

Under an Oregon law designed to true up private-sector utility tax payments and retail rates annually, the state’s major investor-owned utilities have filed their 2006 tax reports with the Oregon Public Utility Commission (PUC). Regulators said Wednesday they will launch a proceeding to review the filings.

Representatives of some of Canada’s largest investor groups met privately with Alberta officials on Friday to voice concerns about the proposed changes to the province’s oil and natural gas royalty regime. Meanwhile, ConocoPhillips joined the growing number of dissenters and said it may cut its Canadian investments next year.

Upstream investment worldwide hit a world-class pace in 2006, but the return on reserves volumes was paltry. This year, investor enthusiasm has declined, but capital expenditures (capex) by exploration and production (E&P) companies — at least in the United States — show signs of support for organic growth in production volumes, two groups of energy analysts said in their reviews of the sector.

Despite a general decline in investor enthusiasm, capital expenditures (capex) by exploration and production (E&P) companies should support organic growth in production volumes despite the near-term bearish natural gas prices, energy analysts said in a review of the sector.

Investor Carl Icahn, a well-known “shareholder activist,” has purchased about 3.1 million shares in Anadarko Petroleum Corp., a stake worth an estimated $133.4 million on March 31, according to a regulatory filing with the Securities and Exchange Commission (SEC).

Investor-owned utilities in the United States were relatively stable during the first quarter of 2007, according to a report released Monday by Standard & Poor’s Ratings Services. The S&P quarterly assessment found rating activity was “mixed in a quiet first quarter.” Overall, during the past 12 months, the percentage of top S&P “A”-rated utilities grew and the number of speculative-grade-rated (BB+ and below) utilities decreased.