Operator

IPE Holdings, operator of the London-based International Petroleum Exchange (IPE), kicked off last week by announcing that it has agreed to a recommended all-share takeover offer by U.S.-based IntercontinentalExchange (ICE), an electronic trading platform for energy and metals commodities.

Williams Energy Marketing & Trading has been ordered by FERC to refund $8 million to the California Independent System Operator (Cal-ISO) and to foot the bill for replacement service if generation plants required to serve the Cal-ISO are unavailable due to forced power outages, according to a stipulation and consent agreement adopted by the Commission Monday.

IPE Holdings, operator of the London-based International Petroleum Exchange (IPE), announced Monday that it has agreed to a recommended all-share takeover offer by U.S.-based IntercontinentalExchange (ICE), an electronic trading platform for energy and metals commodities.

California power marketer/generators blasted the state transmission grid operator’s (Cal-ISO’s) federally filed market stabilization plan as potentially being “extremely detrimental” to the state’s struggling electricity markets and urged the Federal Energy Regulatory Commission to reject it. The plan promises to cause “more blackouts in the West, chase away much-needed new generation, and jack up wholesale power costs,” according to the Western Power Trading Forum, a trade and lobbying group for marketers, scheduling coordinators, power exchanges and generators. The Cal-ISO proposal includes price caps and restrictions on selling California-generated power out of state. “It is yet another attempt to heap more rules on an already overruled market,” said Gary Ackerman, executive director of the trading forum.

The California Independent System Operator’s (Cal-ISO) claim that market power has inflated wholesale energy costs in the state by more than $6.2 billion since last May (see NGI, March 26) should be rejected because the figure came from a report that was approved by the organization’s illegally formed governing board, contends Williams Energy Marketing and Trading.

The California Independent System Operator’s (Cal-ISO) claim that market power has inflated wholesale energy costs in the state by more than $6.2 billion since last May (see Daily GPI, March 23) should be rejected because the organization is run by an illegally formed governing board, contends Williams Energy Marketing and Trading.

New York State Electric & Gas Corp.(NYSEG) last Wednesday took direct aim at a recent New York Independent System Operator (NYISO) report on the state’s power market, asserting, among other things, that it “unrealistically assumes” that 8,600 MW of new generation for the state can be built by 2005.

New York State Electric & Gas Corp.(NYSEG) yesterday took direct aim at a recent New York Independent System Operator (NYISO) report with the utility asserting, among other things, that the ISO’s report “unrealistically assumes” that 8,600 MW of new generation for the state can be built by 2005.

Tennessee reported being notified by Dynegy Midstream Services,operator of the Yscloskey Gas Processing Plant in southeasternLouisiana, that effective April 1 the plant will no longer process”strangers” gas that does not have a contractual relationship withthe plant. In the event this action causes Tennessee to once againexperience operational difficulties attributable to gas with highBtu levels, the pipeline said, it will do whatever is necessary tolower overall Btu content on its 500 Line to manageable levels.