Jersey

Chair Marilyn Showalter of the Washington Utilities and Transportation Commission will be a featured speaker at the upcoming conference on “Buying and Selling Electric Power in the West” Jan. 20-21 in Seattle, WA. Michael Grainey, director of the Oregon Department of Energy, also will be presenting at this 10 annual conference hosted by Law Seminars International. Topics to be covered include key national and global developments affecting electric markets in the West, anticipated budget and operational impacts of new security requirements, and the Canadian perspective on the key issues in western U.S. power markets. In addition there will be discussions on hydropower licensing, risk management strategies, the financial markets’ view on Northwest energy markets, potential financial impacts of pending energy litigation, a California update and energy strategies for cities and counties. A complete program can be viewed at http://www.lawseminars.com/frame_seminars.htm.

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

Following on its announcement that it will report a loss for the quarter ending June 30, primarily due to a decline in energy trading, New Jersey-based NUI Corp. said Tuesday it will take immediate steps to cease operations of its TIC Enterprises LLC venture’s unprofitable divisions, including TIC’s telecom equipment and shipping divisions.

Following on its announcement that it will report a loss for the quarter ending June 30, primarily due to a decline in energy trading, New Jersey-based NUI Corp. said Tuesday it will take immediate steps to cease operations of its TIC Enterprises LLC venture’s unprofitable divisions, including TIC’s telecom equipment and shipping divisions.

As Argentina’s political and economic waters continue to roil, New Jersey-based Public Service Enterprise Group (PSEG) recently said that if its PSEG Global Inc. indirect subsidiary is forced, under a worst case scenario, to halt all operations in that country, such a move would result in a pre-tax write-off of approximately $632 million and a loss of an anticipated annual earnings contribution of 16 cents per share of common stock.

Enron Corp. on Tuesday named Stephen F. Cooper, managing partner with New York-based Zolfo Cooper LLC, a corporate recovery and crisis management firm, as interim CEO and chief restructuring officer. Cooper has more than 30 years of experience leading companies through operational and financial reorganizations. Cooper will be joined by a team of Zolfo Cooper professionals and current Enron executives to assist with Enron’s restructuring effort.

Ringing in the new year with a natural gas rate cut, the New Jersey Board of Public Utilities (BPU) issued orders Wednesday on a number of PSE&G filings, which have the combined effect of reducing rates for the company’s typical residential gas heating customers (who use an average of 200 therms in the winter and 1,252 therms annually) by 3.3%.

TradeSpark LP resumed full electronic trading operations last week for all energy commodities from its back-up offices in New Jersey, only two weeks after its main offices in the World Trade Center were destroyed by terrorists.