Marketer

Washington D.C.-based Potomac Electric Power Company (Pepco) isseeking a stay in a lower court in Maryland of a July 1 orderissued by state regulators, which restricts the businessrelationship between in-state electric and gas utilities and theirnon-regulated subsidiaries.

Two retail marketer bankruptcies in Georgia and the legislativeand regulatory retrenchment in California should take most of theblame for the slowdown in gas deregulation nationwide, according toMarie Lihn, principal economic analysis manager for the GasTechnology Institute (GTI) (see related stories this issue). Anationwide preoccupation with electric restructuring has not helpedthe gas cause either, she said in an interview regarding a new GTIstudy on gas deregulation.

After two marketer bankruptcies, slamming problems, continuingbilling problems and higher gas rates, Georgia gas deregulation is”in deep, deep trouble,” Georgia PSC Commissioner Bob Durden saidyesterday in an interview with NGI.

Morgan Stanley Capital Group Inc., a power marketer, is seekingan emergency cease and desist order directing the California ISO’sgoverning board to overturn its decision reducing the power pricecap to $500/MWh and to restore the temporary $750 cap. It furtherhas asked FERC to stay the ISO’s price-cap authority, and to stripit entirely of that power when an existing resolution expires inOctober.

Morgan Stanley Capital Group Inc., a power marketer, is seekingan emergency cease and desist order directing the California ISO’sgoverning board to overturn its decision reducing the power pricecap to $500/MWh and to restore the temporary $750 cap. It furtherasked FERC to stay the ISO’s price-cap authority, and to strip itentirely of that power when an existing resolution expires inOctober.

Shell Energy Services Co. LLC, the third largest natural gasmarketer in Georgia, hopes to extend its success in the residentialarena to the large commercial and industrial market in the statewith several new product offerings and a new web site,www.shellenergyconnect.com.

Petroleum Place Inc. is going public. The Englewood, CO-basedonline marketer for the oil and gas industry yesterday filed noticewith the Securities and Exchange Commission in an initial stockoffering that would raise as much as $100 million. The company alsoannounced it has completed its second round of financing that hasraised $60 million from investors in the financial, and oil and gasindustry. Net proceeds from the equity financing will be used torepay debt under its credit facilities, develop its web site andexpand marketing and sales activities.

“Clean” energy retail marketer GreenMountain.com cleaned houselast week, attracting a $100 million investment from BP Amoco andothers, striking a marketing and energy supply alliance with BPAmoco and forming a marketing arrangement with Web powerhouseLycos.

“Clean” energy retail marketer GreenMountain.com cleaned houseyesterday, attracting a $100 million investment from BP Amoco andothers, striking a marketing and energy supply alliance with BPAmoco and forming a marketing arrangement with Web powerhouseLycos.