Multi

GPU Inc., parent of New Jersey’s largest electric utility, GPU Energy, unveiled a multi-point program designed to enhance shareholder returns at the Edison Electric Institute Finance Conference in Orlando, FL, last week. The plan includes a $100 million cost reduction over the next two years, a $40-$50 million investment to improve the company’s reliability and a non-core asset sale designed to generate over $500 million.

GPU Inc., parent of New Jersey’s largest electric utility, GPUEnergy, unveiled a multi-point program designed to enhanceshareholder returns at the Edison Electric Institute FinanceConference in Orlando, FL, yesterday. The plan includes a $100million cost reduction over the next two years, a $40-$50 millioninvestment to improve the company’s reliability and a non-coreasset sale designed to generate over $500 million.

After finishing last week with a multi-day Overage Alert Daynotice carrying a 6% tolerance for negative daily imbalances,Florida Gas Transmission reinstated the low-linepack OFO for itsmarket area Tuesday but tightened the tolerance considerably to 2%.The new notice is again due to high market area demand and appliesto the system east of Station 12 (Santa Rosa County, FL).

President Clinton last week signed a bill into law thatestablishes a multi-million dollar federal loan-guarantee programto help independent oil and natural gas producers recover from theeffects of depressed crude oil prices. The measure was passed bythe House earlier this month, and approved by the Senate in June.

The House of Representatives last week approved legislation toestablish a multi-million federal loan-guarantee program to helpindependent oil and natural gas producers recover from the effectsof depressed crude oil prices. The measure, which was approved bythe Senate in June, is now headed to President Clinton for hissignature.

A multi-million dollar acquisition last week by Cross TimbersOil Co. of Fort Worth, TX, further grew the company’s presence inthe Arkoma Basin and also put the producer in the 90% natural gascolumn.

As possibly the first step toward the formation of a multi-statewestern U.S. electricity transmission grid operator, the CaliforniaIndependent System Operator’s governing board has authorized theISO management to discuss with Nevada regulatory staff a deal underwhich the California nonprofit grid operator would expand itsoperations to handle Nevada. Public Utilities Commission staff inNevada raised the issue last month as an option for the state as itanticipates a new law that will open Nevada power markets nextspring.

Significant savings are increasingly hard to come by for large,multi-facility energy users even with the help of outside energyexperts, according to panelists last week discussing energymanagement outsourcing at NGI’s GasMart/Power ’99 in Dallas.

Significant savings are increasingly hard to come by for large,multi-facility energy users even when using outside energy expertsin the face of volatile commodity markets and increasing pressuresinside their companies to show significant returns on investments,according to panelists yesterday discussing energy managementoutsourcing Monday at GasMart/Power ’99 in Dallas.