Leap

Crosstex Energy LP took a big leap forward in its Gulf Coast midstream and pipeline expansion plans with the purchase of Louisiana Interstate Gas (LIG) from American Electric Power for $76.2 million.

Crosstex Energy LP took a big leap forward in its Gulf Coast midstream and pipeline expansion plans with the purchase of Louisiana Interstate Gas (LIG) from American Electric Power for $76.2 million.

Energy trading companies should leap into action with “an aggressive compliance program in-house,” including a regimen of standards and procedures to weed out unacceptable market behavior, a veteran attorney in the regulatory arena told the mid-year meeting of the Energy Bar Association.

Energy trading companies should leap into action with “an aggressive compliance program in-house,” including a regimen of standards and procedures to weed out unacceptable market behavior, a veteran attorney in the regulatory arena told the mid-year meeting of the Energy Bar Association.

Southern Energy Inc. took a giant leap into the Mid-Atlanticpower market yesterday by completing the purchase of 5,154 MW ofpower generation from Potomac Electric Power Company (Pepco) for anet price of $2.65 billion.

Cash prices continued to leap higher Tuesday even though futurestraders decided it was time for major retrenchment. Gains were indouble digits at almost all points, but tended to range from littlemore than a dime on Rockies pipes and in El Paso’s Permian and SanJuan Basin pools to around 50 cents or more in capacity-constrainedCalifornia.

Prices for the last day of February were generally on theupswing Monday, ranging from flat in California to more than a dimehigher at a few Northeast points.

Directed by strong gas, power and liquids operations, DynegyInc. reported yesterday a 56% increase in 4Q99 net income to $45.1million and a 50% increase in 1999 recurring net income to $146.1million. In addition to that good news, the Houston-based companyalso said its merger with Illinova Corp., should be complete byearly February.

San Francisco-based PG&E Corp. leap-frogged the continent tocomplete the $1.59 billion acquisition of New England ElectricSystem’s generating business, including hydro and gas-fired plantswith 5,100 MW of capacity. The acquisition was made by PG&Esubsidiary U.S. Generating Co.