The proliferation of energy trading Internet sites continuedlast week with Dynegy and Williams teaming up to invest $25 millioneach for a minority equity stake in eSpeed Inc., an interactiveelectronic marketplace engine for business-to-business (B2B)e-commerce. It’s another sign the energy industry’s migration toe-commerce is speeding toward an eventual shake-out. Right now,players are beginning to place their bets on who the winners maybe.
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Vector Holds Open Season
The Vector Pipeline project, a proposed $470 million pipelineextending from Chicago to the Dawn hub in Ontario, is currentlyholding an open season through May 19. Vector said it is focused onselling the 300 MMcf/d dedicated to come online when its Highlandcompressor station is put in service in 2001. The open seasonstarted last week.
Vector Holds Open Season
The Vector Pipeline project, a proposed $470 million pipelineextending from Chicago to the Dawn hub in Ontario, is currentlyholding an open season through May 19. Vector said it is focused onselling the 300 MMcf/d dedicated to come online when its Highlandcompressor station is put in service in 2001.
AGL Reaches the End of the Retail Road
Preparing to say farewell to the retail side of its business,Atlanta Gas Light (AGL) announced yesterday it will refund $34million to its former retail customers. The $26 per customer refundwill be issued by the 13 marketers in AGL’s service territoryduring the May/June billing cycle. It will be noted on customers’bills as a “GA PSC Ordered Credit,” which will be deducted from thetotal amount owed for service for the particular billing period.
Enron to Supply, Manage Power for Sonoco
Enron Energy Services signed a six-year, $210 million energymanagement agreement with Sonoco yesterday that is designed toensure electricity savings at more than 150 Sonoco manufacturingplants and facilities nationwide.
RTOs Continue Down Separate Paths
Congestion is about a $100 to $200 million problem in thePennsylvania-New Jersey-Maryland (PJM) independent system operator(ISO) area, but it is being addressed through a combination ofmanagement and capital improvement steps that include a long listof natural gas-fired new generating plants, according to anexecutive with the PJM ISO’s regional power district, the largestin the nation.
Title Change for El Paso Intrastate — Alabama
Completing a deal announced last December, El Paso Energy Partners L.P. announced it has assumed control of El Paso Intrastate — Alabama Inc. (EPIA) for $26.4 million from its parent company, El Paso Energy Corp (see Daily GPI, Dec. 27).
FERC Wants Diagnosis on Millennium Project
FERC last week told Columbia Energy Group to check the lifesigns of the $650 million Millennium Pipeline project and provide adiagnosis within 20 days so the Commission can complete work on theproject’s final enviromental impact statement. The 442-mile projectwould bring about 714 MMcf/d of gas from Canada under Lake Erie tothe New York metropolitan area.
Vermont Governor Assails Pipeline, Power Projects
Vermont Gov. Howard Dean last week voiced strong opposition to a$100 million gas pipeline project and two power plants proposed inhis state. The governor’s position, local opposition and financingtroubles for the power plants have left project planners EnergyEast, Iroquois Gas Pipeline and Vermont Energy Park Holdings withvery few options.
Vermont Governor Assails Pipeline, Power Projects
Vermont Gov. Howard Dean this week voiced strong opposition to a$100 million gas pipeline project and two power plants proposed inhis state. The governor’s position, local opposition and financingtroubles for the power plants have left project planners EnergyEast, Iroquois Gas Pipeline and Vermont Energy Park Holdings withvery few options.