Offer

U.S. Reps. Peter DeFazio (D-OR) and Greg Walden (R-OR) have introduced two bills that seek to bar energy suppliers from engaging in questionable “round-trip” and “wash” trading transactions for electricity. The measures do not address similar trades for natural gas, a DeFazio spokeswoman said, but she noted the lawmakers may add gas later.

In a move to cut costs, Cinergy Corp. is offering voluntary early retirement to 280 employees, or about 3% of its workforce of about 8,770 employees. The early retirement offer is being made to certain non-union employees who will be 54 or older on June 1 with five years of service.

Sen. Ron Wyden (D-OR) said last week he plans to offer an amendment to the Senate energy bill that would establish a consumer advocate office within the Department of Justice (DOJ) to represent the interests of natural gas and electricity consumers at the federal level.

Sen. Ron Wyden (D-OR) plans to offer an amendment to the Senate energy bill that would establish a consumer advocate office within the Department of Justice (DOJ) to represent the interests of natural gas and electricity consumers at the federal level, a spokeswoman for the senator said.

The New York Mercantile Exchange announced last week it had reached an agreement with the Chicago Mercantile Exchange (CME) to offer newly created “E-mini” versions of key Nymex energy futures contracts for trading on CME’s GLOBEX electronic trading platform and clearing at the Nymex clearinghouse. It is possible Nymex also will put some of its proposed OTC products on GLOBEX as well.

Williams says it plans to offer early retirement packages to approximately 450 employees, or about 4% of its worldwide work force, in order to eliminate the duplication in its human resources, information technology and finance departments.

Williams says it plans to offer early retirement packages to approximately 450 employees, or about 4% of its worldwide work force, in order to eliminate the duplication in its human resources, information technology and finance departments.

The long-awaited energy legislation introduced by Senate Democrats Wednesday offers a huge financial carrot to the company or companies that are first in line to build a long-line natural gas pipeline to deliver more than 30 Tcf from Alaska’s North Slope to the continental United States.

Union Gas, a member of the Westcoast Energy group of companies, said late last week that it is holding an open season for firm transportation between the Dawn Market Hub and its Kirkwall and Parkway interconnects. Union Gas added that this offering can help TransCanada (TCPL) shippers looking to meet expanding requirements at the TCPL export points of Waddington (Iroquois), Chippawa (Empire) and Niagara (National Fuel/Tennessee) by letting them source gas from the closest, most liquid supply point.