House Republican energy leaders have deep-sixed their proposed legislation to provide emergency relief to California and other western energy markets, insisting that Democrats and Republicans are too far apart on the issue of whether price limits on wholesale power should be included.
Meet
Articles from Meet
Industry Briefs
In an effort to assist the Northwest meet its needs during the current energy shortage out West, the Bonneville Power Administration plans to establish a short-term policy that will encourage the immediate addition of electricity generation to help the region until planned long-term generation can be built. While the BPA will not fund construction of the generators nor buy the output, BPA said that the policy complements the load reduction strategy it has with its customers. In addition, BPA noted that customers who reduce their load on BPA by 10% would be allowed to use temporary small generators to supply a small portion of their needs. The agency has asked its customers to reduce their demands on BPA so that it can avoid expensive large power purchases in the wholesale market. Such purchases could lead to a triple-digit wholesale rate increase this October, according to BPA (see Daily GPI, April 11). The temporary policy would run from June 1, 2001 through Sept. 30, 2002. But the BPA said that before it implements the policy next month, it wants to hear from the public on the details of the plan. A public meeting on BPA’s proposed policy is scheduled for May 24 at BPA headquarters in Portland, OR.
EEA: Powder River Basin to Reach 1.2 Bcf/d in 2002
As exploration and production companies scurry to extract higher volumes of natural gas from the ground to meet the nation’s voracious demand, coalbed methane production in the Powder River Basin of Wyoming and southern Montana continues to increase as conservative estimates of the basin’s reserves from the late 1980s through the mid-1990s continue to fall by the wayside, according to Energy and Environmental Analysis (EEA).
EEA: Powder River Basin to Reach 1.2 Bcf/d in 2002
As exploration and production companies scurry to extract higher volumes of natural gas from the ground to meet the nation’s voracious demand, coalbed methane production in the Powder River Basin of Wyoming and southern Montana continues to increase as conservative estimates of the basin’s reserves from the late 1980s through the mid-1990s continue to fall by the wayside, according to Energy and Environmental Analysis (EEA).
FPL Group Says Earnings are on Target
FPL Group Inc. last week said that it expects to meet consensus earnings per share estimates of $0.76 for the first quarter of 2001, excluding expenses of about $30 million related to its failed merger attempt with Louisiana-based Entergy Corp. (see NGI, April 9). FPL Group will announce its latest earnings results on April 20.
FPL Group Says Earnings are on Target
FPL Group Inc. yesterday said that it expects to meet consensus earnings per share estimates of $0.76 for the first quarter of 2001, excluding expenses of about $30 million related to its failed merger attempt with Louisiana-based Entergy Corp. (see Daily GPI, April 3). FPL Group will announce its latest earnings results on April 20.
SoCalGas to Make System Enhancements
Southern California Gas Co. confirmed plans to expand itsintrastate gas transportation system and make enhancements to itsstorage facilities to help meet record-setting gas demand byelectric generators in Southern California. SoCalGas Chairman EdwinA. Guiles informed California Public Utilities Commission PresidentLoretta Lynch of the plans in a March 27 letter.
TECO Picks Up 500 MW Texas Plant
To meet its divestiture requirements and pay down some debt,American Electric Power Co. said it will sell a 500 MW naturalgas-fired plant in Texas to TECO Power Services for $265 million incash. Columbus, OH-based AEP was required by the Federal EnergyRegulatory Commission to sell the Frontera facility, located nearthe Texas-Mexican border, to complete its Central and South WestCorp. merger.
Dominion to Add 1,100 MW to PA Region
Dominion is on course to add 1,100 MW of natural gas-firedgeneration to its electric portfolio in Pennsylvania by the secondquarter of 2004 to help meet growing energy demand in the region.The merchant power facility will sell competitive energy to buyersin newly opened wholesale markets.
FERC Gives Nod to Merger Filing Rule
FERC yesterday voted out a final rule that lays out “detailed”requirements for electric utilities to meet when submitting mergerapplications. The new rule is intended to help merger partners file”more complete” applications upfront, which then would improve theodds for speedier processing by the Commission, said CommissionerWilliam Massey, who has led the drive for a streamlined mergerprocess at FERC.