Ongoing

Allegheny Energy Supply and its parent, Allegheny Energy Inc., are being hit with “significant financial harm” as a result of ongoing proceedings at FERC resulting from complaints filed by California state regulators challenging contracts for power supply between Allegheny Energy Supply and the California Department of Water Resources (CDWR), the power supplier told the Commission last Tuesday.

As part of the company’s ongoing strategy to unload non-core assets and focus on key businesses, Williams said Wednesday that it has signed a definitive agreement with Knoxville, TN-based Pilot Travel Centers LLC. to sell its retail travel center operations for $190 million cash, including fuel inventory, merchandise and supplies.

In the first criminal charges to come out of the ongoing probe into manipulation of the California energy market, an ex-Enron Corp. trader plead guilty in a San Francisco federal courtroom last Thursday to criminal conspiracy for his role in a scheme to artificially inflate prices during the state’s energy crisis nearly two years ago, according to the U.S. Attorney’s Office and Justice Department officials.

In the first criminal charges to come out of the ongoing probe into manipulation of the California energy prices during 2000-2001, an ex-Enron Corp. trader plead guilty in a San Francisco federal courtroom Thursday to conspiracy to commit wire fraud in a scheme to artificially inflate energy prices in the state, according to the U.S. Attorney’s Office and Justice Department officials.

For industry sources hoping for a winding down, if not conclusion, of California’s ongoing energy investigations, a state lawmaker told an industry meeting in San Francisco last Thursday that the beat will go on and on, but how soon any conclusions are drawn is anyone’s guess.

As part of its ongoing effort to get back on its feet financially, Williams said it has signed a definitive agreement to sell its Central natural gas pipeline to Southern Star Central Corp. fo r total consideration of $555 million. Southern Star is owned by AIG Highstar Capital, LP, a private equity fund sponsored by American International Group, Inc.

As part of its ongoing effort to get back on its feet financially, Williams said Monday that it has signed a definitive agreement to sell its Central natural gas pipeline to Southern Star Central Corp. for total consideration of $555 million. Southern Star is owned by AIG Highstar Capital, LP., a private equity fund sponsored by American International Group, Inc.

The ongoing turmoil in the energy industry and residue of California’s fiscal and energy-related struggles have made it harder on the state’s largest natural gas buyer — the California General Service Department’s gas aggregation program covers more than 100 government facilities scattered across the state. The deadline for bids for up to 5 Bcf of supplies over a five-year period starting April 2003 will conclude this week (Aug. 23).

The ongoing turmoil in the energy industry and residue of California’s fiscal and energy-related struggles have made it harder on the state’s largest natural gas buyer — the California General Service Department’s gas aggregation program covers more than 100 government facilities scattered across the state. The deadline for bids for up to 5 Bcf of supplies over a five-year period starting April 2003 will conclude later this month (Aug. 23).