Officers

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

The American Gas Association has elected Atmos Energy CEO Robert W. Best as its chairman for 2004. AGA’s other new officers include New Jersey Resources CEO Laurence Downes as the 2004 first vice chairman and DTE Energy COO Stephen Ewing at second vice chairman. Seven members also were elected to serve three-year terms on the AGA board: EnergySouth CEO John Davis, Avista Corp. CEO Gary Ely, TXU Gas President Michael McCall, Memphis Light Gas & Water CEO Herman Morris, Cinergy Corp. CEO James Rogers, Montana-Dakota Utilities CEO Ronald Tipton and Wisconsin Public Service CEO Larry Weyers. The AGA represents 191 local energy utility companies that deliver gas to 53 million homes throughout the United States.

The U.S. Department of Labor is suing Enron Corp. and 21 former company officials, including former Chairman Kenneth L. Lay and CEO Jeffrey K. Skilling, for mismanaging two of Enron’s pension plans. The lawsuit seeks a court order requiring the defendants to restore to the plans all losses with interest, forfeit their right to benefits from the plans and be permanently barred from serving as fiduciaries to any plan governed by the federal Employee Retirement Income Security Act (ERISA).

New Mexico Gov. Bill Richardson heads the slate of 2003-2004 Interstate Oil and Gas Compact Commission (IOGCC) officers. Richardson, a former United Nations ambassador and U.S. secretary of energy during the Clinton Administration, was chosen at the IOGCC’s midyear meeting in Williamsburg, VA. He will succeed the current chairman, North Dakota Gov. John Hoeven, at the IOGCC’s annual meeting in Reno in October. Donald L. Mason of Ohio was selected as vice chairman and Randy Ruedrich of Alaska was selected as second vice chairman. Mason, a member of the Public Utilities Commission of Ohio, is the current second vice chairman of the IOGCC. Ruedrich is a member of the Alaska Oil and Gas Conservation Commission. Alaska Gov. Frank Murkowski was named chairman-elect, and will serve as chairman in 2004-2005 along with Ruedrich as vice chairman and Don Likwartz of Wyoming as second vice chairman. Likwartz is state oil and gas supervisor for Wyoming. Wyoming Gov. Dave Freudenthal was tabbed to serve as chairman in 2005-2006. The IOGCC, founded in 1935 to ensure the efficient recovery of domestic petroleum resources while protecting health, safety and the environment, represents the governors of 30 oil and gas producing states. Seven states are associate members, and the IOGCC international program has seven affiliates. For more information on the IOGCC, visit its web site at www.iogcc.state.ok.us.

The Committee of Chief Risk Officers (CCRO), pointing to gaps in gas price reporting during the March bidweek, has urged energy buyers and sellers to continue to submit data on transactions to “index developers” during the transition time until its complex and detailed new rules can be put in place. At the same time, another group, the Process Gas Consumers (PGC) representing end users whose processes require the use of natural gas, has advised FERC Chairman Pat Wood it is “strongly” opposed to the federal government taking a hand in the price reporting process for natural gas.

The Committee of Chief Risk Officers (CCRO), pointing to gaps in gas price reporting during the March bidweek, has urged energy buyers and sellers to continue to submit data on transactions to “index developers” during the transition time until its complex and detailed new rules can be put in place. (Note NGI has a material interest in this subject).

The Committee of Chief Risk Officers (CCRO), a coalition of 31 energy companies, issued a set of best practices for managing risk and recommended that all companies with significant merchant energy activities adopt the set, which covers best practices in the governance, valuation, credit risk management and disclosure aspects of merchant energy operations.

The Committee of Chief Risk Officers (CCRO), a coalition of 31 energy companies, issued a set of best practices for managing risk and recommended that all companies with significant merchant energy activities adopt the set, which covers best practices in the governance, valuation, credit risk management and disclosure aspects of merchant energy operations.

Cinergy Corp. said that it has joined in the formation of an energy industry committee made up of chief risk officers who will identify best practices in risk management. Companies participating in the Committee of CROs, which was formed late last month, said the organization was made necessary by the rapid growth and increasing financial pressures in the merchant energy industry in the United States (see NGI, June 3).