The Federal Trade Commission (FTC) granted early termination of the waiting period under antitrust law for Black Hills’ acquisition of Aquila’s electric generation and distribution properties in Colorado and its gas distribution properties in Colorado, Iowa, Kansas and Nebraska. The FTC did the same for the proposed merger of Aquila’s Missouri-based electric utility with a subsidiary of Great Plains Energy Inc., the parent of Kansas City Power & Light.
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California Irrigation District Burned by Gas Hedge Fund Deals
As it operates under a new oversight board and is looking for a permanent new general manager, the Imperial Irrigation District (IID), a public-sector powerhouse dealing water and electricity in the southeast corner of California, is still trying to recover from the aftermath of Hurricane Katrina two years ago and subsequent hedging deals for natural gas supplies that went sour.
California Irrigation District Burned by Gas Hedge Fund Deals
As it operates under a new oversight board and is looking for a permanent new general manager, the Imperial Irrigation District (IID), a public-sector powerhouse dealing water and electricity in the southeast corner of California, is still trying to recover from the aftermath of Hurricane Katrina two years ago and subsequent hedging deals for natural gas supplies that went sour.
Dominion Bets on Gas Storage with Northeast Expansion
Dominion, which already owns and operates an underground natural gas storage system with about 960 Bcf of capacity, last week unveiled its Storage Factory Project, designed to expand its capacity by up to 50 Bcf. The operation would serve customers in the Northeast and Mid-Atlantic areas.
Dominion to Expand Northeast Gas Storage by Up to 50 Bcf
Dominion, which already owns and operates an underground natural gas storage system with about 960 Bcf of capacity, Tuesday announced the Storage Factory Project, which would expand its capacity by up to 50 Bcf. The operation would serve customers in the Northeast and Mid-Atlantic areas.
Southwest Gas Earnings Up; More Weather-Neutral Rates Sought
Even with solid earnings improvement, Las Vegas, NV-based Southwest Gas Corp’s. lingering issue with regulators in the three states in which it operates is how to make its natural gas distribution earnings more stable and less influenced by swings in the weather in Nevada, Arizona and the eastern desert/mountain fringes of California. Net income for the first quarter ended March 31 was $49.8 million, or $l.19/share, compared to $44.2 million, or $1.12/share, for the same period in 2006.
PG&E Eyes New Utility-Related Growth, Good Regulatory Vibes
Three years after its emergence from Chapter 11 bankruptcy protection and a historic settlement with state regulators, Pacific Gas and Electric Co. operates in full transformation mode, with a new, diverse senior management team that is motivated to aggressively go after growth opportunities tied to the core utility business, CEO Peter Darbee told Wall Street analysts in New York City Wednesday. Darbee and his fellow senior executives at PG&E Corp. gave an annual update to the financial community.
Nymex Mulls Secondary Share Offering
Following the success of its popular initial public offering in November, it appears that Nymex Holdings, which operates the 135-year-old New York Mercantile Exchange, is going after a second bite of the apple. On Friday the company filed with the Securities and Exchange Commission an automatic shelf registration statement for a potential secondary offering of shares of common stock.
Nymex Mulls Secondary Share Offering
Following the success of its popular initial public offering in November, it appears that Nymex Holdings, which operates the 135-year-old New York Mercantile Exchange, is going after a second bite of the apple. On Friday the company filed with the Securities and Exchange Commission an automatic shelf registration statement for a potential secondary offering of shares of common stock.
FERC OKs ANR Storage Expansion in Michigan
FERC has issued a certificate approving ANR Pipeline’s proposal to enhance the working gas capacity at the four natural gas storage reservoirs that the pipeline owns and operates in central and western Michigan. All told, the proposed changes will increase ANR’s firm storage capacity by 13 Bcf and its deliverability by 212 MMcf/d.