Numerous

Riding the contributions from its numerous acquisitions during the year, Houston-based Enbridge Energy Partners LP. reported net income for the fourth quarter of $32.3 million, or $0.54 per unit, compared with $26 million, or $0.52 per unit, for the fourth quarter of the prior year. The company also posted year-end net income of $111.7 million, or $1.93 per unit, compared to $78.1 million, or $1.76 per unit, for 2002.

Riding the contributions from its numerous acquisitions during the year, Houston-based Enbridge Energy Partners LP. reported net income for the fourth quarter of $32.3 million, or $0.54 per unit, compared with $26 million, or $0.52 per unit, for the fourth quarter of the prior year. The company also posted year-end net income of $111.7 million, or $1.93 per unit, compared to $78.1 million, or $1.76 per unit, for 2002.

The collapse of the merchant energy sector isn’t over and numerous assets will continue to be put up for sale. The question for a private equity fund entering this energy smorgasbord is whether to dine first on the meat-and-potatoes regulated operations or to go straight for the attractive but far more risky unregulated merchant power dessert.

The collapse of the merchant energy sector isn’t over and numerous assets will continue to be put up for sale. The question for a private equity fund entering this energy smorgasbord is whether to dine first on the meat-and-potatoes regulated operations or to go straight for the attractive but far more risky unregulated merchant power dessert.

FERC denied requests for rehearing and stay by numerous pipeline customers and approved stiffer creditworthiness standards for Natural Gas Pipeline Company of America (NGPL), including a plan to suspend service within five business days if a shipper falls behind in payments a second time within six months and another plan that would halve the time period to 15 days for suspending service when a shipper is delinquent in payments.

FERC denied requests for rehearing and stay by numerous pipeline customers and approved stiffer creditworthiness standards for Natural Gas Pipeline Company of America (NGPL), including a plan to suspend service within five business days if a shipper falls behind in payments a second time within six months and another plan that would halve the time period to 15 days for suspending service when a shipper is delinquent in payments.

Federal bankruptcy Judge Dennis Montali has ordered a hearing to set up settlement talks between Pacific Gas & Electric Co. and the California Public Utility Commission in the PG&E utility’s $13 billion bankruptcy case. The judge said further delay in the case will lead to a “staggering expense” for all parties.

The federal investigation into Enron Corp.’s numerous special purpose entities (SPE) has stumbled upon the question of whether investors also were misled about the value of the company’s natural gas pipelines and power plants, according to a report in The New York Times Thursday.

A six-page list released by the White House last week identifying numerous contacts between Bush administration officials and former energy giant Enron Corp. “does not by a long stretch” comply with the Senate’s subpoenas for more exhaustive records and documents, said a spokeswoman for Sen. Joseph Lieberman (D-CT).