The planned capacity additions announced by merchant power plantdevelopers for the U.S. market have more than tripled in less thantwo years, confirming that power suppliers are “aggressivelyresponding” to market demands for more generation and greatersystem reliability, according to the Electric Power SupplyAssociation (EPSA).
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Contango Gets $3 Million Boost from Tribe
One of the tiniest Houston-based development stage companies,Whichonly entered the oil and gas business less than a year ago andwhich hardly had any operating funds at all in its first quarterstatement this year, got a huge boost Friday with a $2.5 millioninvestment from a Colorado Indian tribe. Along with the stockpurchase, the tribe’s fund invested another $480,000 in thecompany’s exploration program, bringing its total investment Fridayto nearly $3 million.
Columbia Plans to Unload Propane, Petroleum Marketing
Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.
Columbia Plans to Unload Propane, Petroleum Marketing
Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.
Ohio Schools Want Review of Columbia Gas, NiSource Merger
Less than one day after the Public Utilities Commission of Ohio(PUCO) threw its support behind the $6 billion NiSource-ColumbiaEnergy Group merger, three groups of Ohio schools urged thecommission to make a full review of the proposal. Last Tuesday,PUCO authorized a letter to the U.S. Securities and ExchangeCommission (SEC) that stated the proposed merger would have noimpact on its ability to protect the interests of Columbia Gas ofOhio ratepayers. However, the schools are not as confident.
Ohio Schools QuestionColumbia, NiSource Combo
Less than one day after the Public Utilities Commission of Ohio(PUCO) threw its support behind the NiSource/Columbia Energy Groupmerger, three groups of Ohio schools urged the commission to make afull review of the proposal. On Tuesday, PUCO authorized a letterto the U.S. Securities and Exchange Commission (SEC) that statedthe proposed merger would have no impact on its ability to protectthe interests of Columbia Gas of Ohio ratepayers. However, theschools are not as confident.
Petal Eyes Another Expansion
Less than a week after FERC approved part of its phase-twoexpansion of its storage caverns in Mississippi, Petal Gas StorageLLC has kicked off an open season to determine whether there’s ademand for another expansion.
Futures Strength, Northern Chill Send Cash Higher
Cash quotes again moved higher Monday but mostly in smallamounts of less than a nickel, reacting to new strength in the gas,crude oil and heating oil futures contracts and getting some extrasupport from colder weather in major northern market areas.
Columbia Accepts Less; NiSource Stock Plummets
Columbia Energy Group’s eight-month refrain of “wrong price,wrong time, wrong company,” referring to NiSource’s hostile tenderoffer, was unexpectedly altered yesterday to the more upbeat tuneof right price, right time, right company. However, Columbia CEOOliver G. Richard III won’t be playing the lead fiddle much longer.
El Paso, Enron Terminate $38 Million Mega-Deal
In a stunning announcement late yesterday, El Paso Natural Gassaid it had reached a “mutual agreement” with Enron North AmericaCorp. to terminate the $38 million negotiated mega-deal for 1.2Bcf/d of capacity that the marketer had entered into in December.The negotiated arrangement covers three separate capacityagreements.