Northeast

NU’s Marketing Losses to Drop Expected ’02 Earnings

Northeast Utilities (NU), New England’s largest utility system, expects to lose between $20 million and $30 million in the last six months of this year because of marketing losses. On Tuesday, the Berlin, CT-based utility company revised downward its 2002 earnings guidance. NU lost nearly $31 million in the first six months of the year and expects to earn between $1.10 and $1.30 per share for the entire year, well below guidance it issued in July of $1.40-$1.65, not including non-recurring items. Wall Street expected 2002 earnings to average $1.30 a share.

October 14, 2002

Most Prices Higher as Gulf Coast Girds for Storm; Pipes Report At Least 4.7 Bcf/d in Shut-ins

Most Gulf Coast and Northeast prices were jumping by double-digit amounts Tuesday morning in response to growing offshore production shut-ins and the previous day’s screen spike. The gains tended to range from less than a dime at a few Gulf points to about 30 cents at FGT Zone 3, where Destin’s outage contributed greatly to supply shortfalls.

September 25, 2002

NEB Approves Duke’s Fort Nelson Expansion in BC

Duke Energy received approval from the National Energy Board (NEB) to expand the Fort Nelson Mainline in northeast British Columbia by 43 MMcf/d. The expansion of the former Westcoast Energy system will accommodate the strong production growth in the area.

August 26, 2002

CA Southwest Gas Customers Get Rate Relief from CPUC

Las Vegas-based Southwest Gas Corp. customers in the high desert and mountains northeast of Los Angeles were granted some interim rate relief retroactively back to Jan. 16 by California regulators Thursday, although it does not deter the regulators’ ongoing investigation of how Southwest handled last year’s extreme run-up in wholesale natural gas prices at the California-Arizona border. Normal ratemaking processes were waived because of retail customers’ “extraordinary” circumstances this winter in the relatively colder mountain and desert climate zones.

February 11, 2002

CA Southwest Gas Customers Get Rate Relief from CPUC

Las Vegas, NV-based Southwest Gas Corp. customers in the high desert and mountains northeast of Los Angeles were granted some interim rate relief retroactively back to Jan. 16 by state regulators Thursday, although it does not deter the regulators’ ongoing investigation of how Southwest handled last year’s extreme run-up in wholesale natural gas prices at the California-Arizona border. Normal ratemaking processes were waived because of retail customers’ “extraordinary” circumstances this winter in the relatively colder mountain and desert climate zones.

February 8, 2002

Maritimes Postage Stamp Rates Under Fire

Maritimes & Northeast Pipeline failed to provide adequate back-up for their recent rate filing, Mobil Natural Gas said, in asking the Federal Energy Regulatory Commission (FERC) to require the pipeline to provide detailed records of its rate design and cost-of-service calculations (RP02-134).

January 22, 2002

Duke Opens New D-J Basin Processing Plant

Duke Energy Field Services (DEFS) said it has placed its new Platteville natural gas processing plant, located northeast of Denver, into service. It will have an initial capacity of 33 MMcf/d and is expandable to 50 MMcf/d with additional inlet compression. The plant will facilitate additional oil and gas production growth in the Denver-Julesburg (D-J) Basin from DEFS customers.

January 10, 2002

Yankee Energy Sells Cogen, Landfill Gas Generating Units

Yankee Energy System, part of the Northeast Utilities system, has completed the divestiture of several non-regulated energy development businesses.

August 27, 2001

Maritimes, Algonquin Cross Environmental Hurdle for HubLine

Maritimes & Northeast Pipeline last week received a favorable draft environmental impact statement (DEIS) from FERC for its Phase III extension in Massachusetts and affiliate Algonquin Gas Transmission also received a favorable DEIS on the related offshore HubLine project. The projects include construction of 25 miles (Maritimes) of 30-inch pipe onshore from Methuen to Beverly, MA, 30 miles of 24-inch pipe offshore (Algonquin) from Beverly to Weymouth, MA, and five miles of 16-inch lateral pipe offshore to a wastewater treatment plant owned by Massachusetts Water Resources Authority (MWRA) on Deer Island, MA.

July 23, 2001

Maritimes, Algonquin Cross Environmental Hurdle for HubLine

Maritimes & Northeast Pipeline received a favorable draft environmental impact statement (DEIS) from FERC for its Phase III extension in Massachusetts and affiliate Algonquin Gas Transmission also received a favorable DEIS on the related offshore HubLine project. The projects include construction of 25 miles (Maritimes) of 30-inch pipe onshore from Methuen to Beverly, MA, 30 miles of 24-inch pipe offshore (Algonquin) from Beverly to Weymouth, MA, and five miles of 16-inch lateral pipe offshore to a wastewater treatment plant owned by Massachusetts Water Resources Authority (MWRA) on Deer Island, MA.

July 20, 2001