Providing a lengthy list of expected merger benefits,Commonwealth Edison and PECO Energy told FERC and the PennsylvaniaPUC in applications yesterday that they expect approval in nearrecord time. They said the deal will “enhance electric competition,foster FERC’s independent transmission system initiatives, protectboth wholesale and retail customers, and ensure sufficient, safe,reliable, low-cost and clean energy for consumers.” They alsobelieve the merger meets all FERC criteria. A notice ofreorganization is expected to be filed shortly with the IllinoisCommerce Commission, the companies said.
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Shareholder Return Tops Chevron’s List
In an effort to achieve the best shareholder return among oil majors from 2000 to 2004, Chevron Chairman Ken Derr and Chairman-elect Dave O’Reilly told security analysts last week the company plans to increase worldwide oil and gas production at an annual growth rate of 4 to 4.5%.
Shareholder Return Tops Chevron’s List
In an effort to achieve the best shareholder return among oilmajors from 2000 to 2004, Chevron Chairman Ken Derr andChairman-elect Dave O’Reilly told security analysts yesterday thecompany plans to increase worldwide oil and gas production at anannual growth rate of 4 to 4.5%.
Chevron Undergoes Executive Shake Up
Sparked by the retirement of CEO Ken Derr, Chevron Corp. followed up last week with a list of upper management job changes. The San Francisco, CA-based energy giant’s board of directors selected its current vice chairman and director, Dave O’Reilly, to succeed Derr as CEO effective Jan. 1, 2000.
Chevron Undergoes Executive Shake Up
Sparked by the retirement of CEO Ken Derr, announced yesterday,Chevron Corp. followed up with a list of upper management jobchanges. The San Francisco, CA-based energy giant’s board ofdirectors selected its current vice chairman and director, DaveO’Reilly, to succeed Derr as CEO effective Jan. 1, 2000.
California Studies New Pipelines for Power
As the list of planned new natural gas-fired power plants inCalifornia lengthens, state officials have begun to survey thedeliverability of resources to fuel those plants.
CA Studies New Pipelines for Power
As the list of planned new natural gas-fired power plants inCalifornia lengthens, state officials have begun to survey thedeliverability of resources to fuel those plants.
Utilicorp Buys Stake in Electric Line Company
Adding to its long list of utility, marketing and transportationassets, Aquila Energy parent Utilicorp United entered into astrategic partnership with Quanta Services Wednesday for $400million. Utilicorp hopes to increase its profit potential in thederegulating electric and telecommunications markets by teamingwith the Houston-based Quanta, a provider of specialized servicesfor companies in those industries.
Hebert Lands on Anne Marie Mueser’s List
Environmental activist Anne Marie Mueser has accusedCommissioner Curt Hebert Jr. of potentially compromising hisimpartiality in a case involving Southern Natural Gas Co.’s (Sonat) northern Alabama project – a proceeding that is scheduled forrehearing at FERC’s bi-monthly meeting today. She thinks Hebertshould consider recusing himself from the case.
Richardson Staff Rapidly Expanding
While Energy Secretary Bill Richardson was visiting Venezuelaand Mexico last week, DOE issued a list of 20 new appointments hehas made at the agency, which are in addition to the seven alreadyannounced in his six weeks on the job.