Competition is, for the most part, flourishing in New York’s electricity markets, but significant levels of new generation will need to be added to the state’s system in the near future in order for New Yorkers to avoid incurring higher electricity prices, according to a report recently issued by Dr. David Patton, market adviser to the New York independent system operator (NYISO).
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Two CA Utilities Take Multi-Billion Dollar Write-Offs
The holding companies for California’s two major utilities — one in bankruptcy and the other on the brink — belatedly Tuesday reported multi-billion-dollar losses for 2000 after taking substantial after-tax charges in the fourth quarter because of uncollected wholesale power costs. Both indicated that California’s continuing energy crisis will impact overall financial results this year, and first quarter earnings will need to be reported by May 15 under Securities and Exchange Commission requirements.
April 18, 2001
FERC: Cal-ISO Must Assure Payment to Third Parties
Power marketers and other suppliers to the California market got a major boost last week when FERC ordered the state’s independent system operator (Cal-ISO) to assure payment for all third-party energy sales made to the state transmission coordinator.
April 11, 2001
Independents Score in Shallow Gulf Bids
Natural gas drilling in the shallow Central Gulf of Mexico drewthe most bids, which were mostly from U.S. independents, in thisweek’s Minerals Management Service lease sale. MMS reported that60% of the bids were for shallow water tracts in acreage less than200 meters deep, considered the best places for quick gasproduction, with total bidding of $227.654 million.
March 30, 2001
Customers Call for Expansion of Pipeline Affiliate Rules
Expansion of the FERC definition of interstate pipelineaffiliate to include other subsidiaries beside marketingaffiliates, and rigorous market monitoring by the Commission,appeared to be the most popular of the solutions offered last weekby pipeline customers to level the playing field in the face of theincreasing convergence of pipeline and power companies.
March 19, 2001
Customers Call for Expansion of Pipeline Affiliate Rules
Expansion of the FERC definition of interstate pipelineaffiliate to include other subsidiaries beside marketingaffiliates, and rigorous market monitoring by the Commission,appeared to be the most popular of the solutions offered lastThursday to level the playing field in the face of the increasingconvergence of pipeline and power companies.
March 19, 2001
NUI Divides Regulated From Other Business
To gain flexibility for its growing non-regulated business, NewJersey-based NUI Corp. has announced the formation of an exemptholding company structure.
March 6, 2001
TX PUC Finalizes Price to Beat Rules
The Texas Public Utility Commission last week finalized rules,which among other things, guarantee utility customers get a 6% ratecut when retail competition begins Jan. 1, 2002. The final rulesestablish the price utility affiliates will be allowed to charge.
February 26, 2001
Exxon Mobil to Appeal $3.5M Judgment
Exxon Mobil Corp. will appeal a record $3.5 billion verdictannounced yesterday by an Alabama jury, which found the oil companyhad defrauded the state and underpaid royalties on natural gas wellleases in state waters. The case centered on charges that theenergy giant had underpaid up to $87.7 million in royalties on theMobile Bay natural gas project in the Gulf of Mexico.
December 20, 2000
Cal-ISO Lowers Cap to $100, Makes Other Changes
As an interim measure, the Cal ISO board last week approved (ona 13-10 vote) a load differentiated price cap that was promoted bya consumer advocate representative on the badly splinteredstakeholder board. The action drew swift criticism from generators.
October 30, 2000
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