Nears

Canadian pipeline giant TransCanada Corp. reported a 1-cent/share drop in net income from continuing operations for the third quarter to 40 cents/share compared to the same period last year but income for the first nine months of the year was up 30% to $1.64/share.

Canadian pipeline giant TransCanada Corp. reported a 1-cent/share drop in net income from continuing operations for the third quarter to 40 cents/share compared to the same period last year but income for the first nine months of the year was up 30% to $1.64/share.

As Ivan draws closer to the Gulf of Mexico, posing a threat to both the electrical and natural gas infrastructures along the coast, FERC Chairman Patrick Wood on Wednesday said the agency will give regulated energy companies more time to report infractions of the Commission’s standards of conduct that may occur during their efforts to maintain system reliability.

The Idaho Public Utilities Commission increased natural gas and electricity utility rates for customers of Spokane, WA-based Avista Utilities Thursday, and separately announced that it was close to approving a settlement, backed by the agency staff and the utility, on a pending rate hike of 5.2% for Idaho Power Co.

Bonnie and Clyde…er, that is, Tropical Storms Bonnie and Charley were holding up the cash and futures gas markets Tuesday morning as the first reports of Gulf of Mexico production shut-ins began to trickle in. A producer said Gulf Coast prices were jumping by as much as 30 cents or so, while smaller gains were reported elsewhere.

Rep. Joe Barton (R-TX) was on course to become the new chairman of the powerful House Energy and Commerce Committee late Wednesday, succeeding Rep. W.J. “Billy” Tauzin (R-LA), who stepped down from the position earlier this month, Capitol Hill aides said.

The Los Angeles Department of Water and Power (LADWP), the nation’s largest municipal utility, is near the end of a three-month request for proposals (RFP) seeking a pre-paid firm 15-year deal on 10,000 MMBtu/d of natural gas. The bidding process has been narrowed to two potential suppliers and negotiations with each are under way, a high-ranking LADWP official told NGI in a brief interview Wednesday.

Los Angeles Department of Water and Power (LADWP), the nation’s largest municipal utility, is near the end of a three-month RFP-process seeking a pre-paid firm 15-year deal on 10,000 MMBtu/d of natural gas. The bidding process has been narrowed to two potential suppliers and negotiations with each are under way, a high-ranking LADWP official told NGI in a brief interview Wednesday.

Iroquois Gas Transmission System plans to ask FERC for a Feb. 5 start-up date for its Eastchester Extension that crosses Long Island Sound into New York City, bringing to life a project that has been in the works for nearly four years, a pipeline spokeswoman said. But even before a molecule of gas has flowed, Iroquois is coming under fire for a proposal to double the transportation rates for service on the extension.