The first of a two-part rate decrease kicked in Monday in Idaho for Intermountain Gas Co., its sixth consecutive natural gas utility retail rate decrease, according to the Idaho Public Utilities Commission (PUC). The second part of the rate reduction comes in December in the form of a one-time bill credit, the PUC said. Combined, the adjustments result in a decrease of 7.1% for the average Intermountain residential customer. The reductions represent nearly $18 million in lower costs for the Boise, ID-based gas utility: $6 million in wholesale gas cost reductions and $11.9 million in the one-time credit from differences in the annual purchased cost projections and the weighted average cost of gas (WACOG). With the latest adjustments, the WACOG drops from 41.8 cents/therm to 33.5 cents/therm, the PUC said, the lowest it has been in 10 years.
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Industry Briefs
Natural Gas Pipeline Co. of America (NGPL) has kicked off an open season for space on its Sabine Henry Hub Project for deliveries to a proposed new delivery point to be located in Cameron Parish, LA — the site of an existing liquefied natural gas terminal and proposed export facility. The pipeline, which is a subsidiary of Kinder Morgan, proposed the $8.6 million project after it received a request from a shipper, which NGPL declined to identify, for 225,000 Dth/d of firm capacity to transport gas to the proposed delivery point at Cameron Parish. The shipper has subscribed the entire capacity of the expansion for a primary term of 10 years and has agreed to bear the full cost of the project. Depending on the open season reason, NGPL will “evaluate whether a bigger project makes economic sense based on the bids received in response to the open season,” said Kinder Morgan spokesman Joe Hollier. As part of the expansion, new meter facilities would be installed at the the interconnection between NGPL and Sabine Henry Hub to allow the bi-directional flow of up to 500,000 Dth/d in each direction. The open season will run through Oct. 15.
NGPL Launches Open Season for Sabine Henry Hub Project
Natural Gas Pipeline Co. of America (NGPL) has kicked off an open season for space on its Sabine Henry Hub Project for deliveries to a proposed new delivery point to be located in Cameron Parish, LA — the site of an existing liquefied natural gas (LNG) terminal and proposed export facility.
Wyoming Governor Eyes Pipe Corridors to Facilitate EOR
Wyoming Gov. Matt Mead on Tuesday kicked off what he hopes will be a public discussion on the establishment of a network of carbon dioxide (CO2) pipeline corridors that ultimately could be used to site all other types of energy pipelines, including natural gas, oil and liquids.
Wind Industry Looks Over Shoulder at Gas
Normally viewed as complementary, the natural gas and wind industries found themselves more at odds Monday as the American Wind Energy Association (AWEA) kicked off its annual meeting in Anaheim, CA. Windpower 2011 was less bullish than in recent years in announcing growth in megawatts and jobs.
House, Senate ‘Draft’ Seeks to Repeal EPA Endangerment Finding
House and Senate lawmakers last week kicked off the debate to strip the Environmental Protection Agency (EPA) of authority to regulate greenhouse gas (GHG) emissions under the Clean Air Act (CAA).
Nexen Doubles British Columbia Shale Position
Nexen Inc. on Thursday kicked off the quarterly earnings season with good news: higher profits than anticipated and solid performance from its operating units.
Problems Offshore Mar Biggest Industry Trade Show
BP plc and its worldwide team of experts had been preparing for a lot of good fun at this year’s annual Offshore Technology Conference (OTC), which kicked off Monday in Houston.
Standoff Over, Senate Moves to Debate Financial Reform
Ending a three-day Republican filibuster, Senators Thursday kicked off what will likely be a lengthy debate of legislation (S. 3217) to overhaul the financial regulatory system (see Daily GPI, April 29; April 28; April 27).
ConocoPhillips Delivers Hefty Profits for 3Q
ConocoPhillips kicked off the U.S.-based majors’ 3Q2008 earnings reports on Wednesday, and it delivered much stronger net income than in the same period a year ago, with profit rising to $5.19 billion ($3.39/share) from $3.67 billion ($2.23) in 3Q2007. Revenues also were strong, jumping to $70 billion versus $46.1 billion a year ago.
