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NRG Energy Inc. pulled off a respectable first three days on theNew York Stock Exchange, as the independent power subsidiary ofNorthern States Power saw its initial public offering (IPO) closewell above its set price of $15 when the markets closed lastFriday. NRG opened at $15.88 on Wednesday, and closed on Friday at$17 1/4 on a volume of 913,000 shares.

NRG Energy Inc.pulled off a respectable first day on the New York Stock Exchange, asthe independent power subsidiary of Northern States Power saw itsinitial public offering (IPO) close well above its set price of$15. NRG opened at $15.88 and closed the day at $16.63 on a volume of8.1 million shares.

It is becoming increasingly obvious that San Diego-based SempraEnergy is going to make a full-court press in its nonutilitybusiness units, seeking to get one-third of its earnings from thosebusinesses collectively in less than three years, according to itssoon-to-be CEO Steve Baum, the current president and COO. To hitthe earnings goal, Sempra’s nonutility businesses need to approach$275 million in collective profits, Baum told employees recently.

Fueled by constructive storage data and higher Access andover-the-counter prices, natural gas futures continued higheryesterday, as traders continue to exhibit a seemingly insatiableappetite for long positions. The June contract advanced 16.3 centsto close at $4.236.

It is becoming increasingly obvious that San Diego-based SempraEnergy is going to make a full-court press in its nonutilitybusiness units, seeking to get one-third of its earnings from thosebusinesses collectively in less than three years, according to itssoon-to-be CEO Steve Baum, the current president and COO. To hitthe earnings goal, Sempra’s nonutility businesses need to approach$275 million in collective profits, Baum told employees recently.

FERC reaffirmed most of its initial decisions in Order 637 onrehearing last week, making minor adjustments to theright-of-first-refusal (ROFR), penalty and posting provisions inthe major natural gas rule. “…[O]n balance this is a solid,well-reasoned [rehearing] order that retains the character of theoriginal order,” said Commissioner William Massey.

Cambridge Energy Research Associates (CERA) issued a report lastweek outlining the possible avenues retail marketing will take asit matures. The report, ‘Customer Choice in the Information Age:North American Retail Energy Scenarios to 2015’, forecasts thedifferent situations that would develop based on how fast regulatedutilities exit retail markets.

While it ponders — based on open season results — building alarger project than originally intended, Georgia Strait CrossingPipeline Ltd. filed a preliminary environmental scoping submissionwith Canada’s National Energy Board to build and the planned gaspipeline to Vancouver Island. The company expects to file anapplication with the NEB this fall.

Georgia Strait Crossing Pipeline Ltd. filed a preliminaryenvironmental scoping submission with Canada’s National EnergyBoard to build and operate its planned gas pipeline to VancouverIsland. The company expects to file an application with the NEBthis fall.