TransCanada PipeLines said yesterday the loss of two shipperagreements enabled it to slash the price of its 1999 expansionproject by C$575.9 million, but it still anticipates being able toprovide 76% of the capacity (208 MMcf/d) of the original project byNovember 1999. The Canadian pipeline monopoly filed its originalproject application with the National Energy Board in April, butmodified its plans this week.
Loss
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PG&E Reports Slight Loss on Australian Asset Sale
PG&E Corp. said second quarter earnings suffered because ofcosts associated with electric restructuring and its sale ofAustralian assets to Duke Energy. The company reported earnings of46 cents per share, compared to 49 cents per share for thecorresponding quarter in 1997, and net income of $174 million,compared with $193 million in 2Q97. A lower rate of exchangebetween the Australian and U.S. dollar resulted in a six-centcharge taken during the second quarter, PG&E said.
July 16, 1998
May Futures Set New Record, Then Record Loss
The May Nymex contract lost 2.1 cents to $2.501 Wednesday amidone of the most active non-expiration days in exchange history. Anestimated 93,649 contracts changed hands, many of which were tradedafter May fell back from its new all-time high trade of $2.56. “Mayhad pretty good resistance at $2.58, but I think funds were anxiousto take profits,” an analyst told GPI.
April 2, 1998
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