Overseeing

Officials overseeing Mexico’s multiple-service contract (MSC) project took comments from the government, outside consultants and potential contractors before agreeing to move their first natural gas contract bidding dates to February instead of December. The extra time, they said, will be used by Petroleos Mexicanos (Pemex) to add new public works laws into the contracts, as well as give bidders the opportunity to include possible exploration and development costs in next year’s budgets.

Officials overseeing Mexico’s multiple-service contract (MSC) project took comments from the government, outside consultants and potential contractors before agreeing to move their first natural gas contract bidding dates to February instead of December. The extra time, they said, will be used by Petroleos Mexicanos (Pemex) to add new public works laws into the contracts, as well as give bidders the opportunity to include possible exploration and development costs in next year’s budgets.

FERC Administrative Law Judge (ALJ) Curtis Wagner, who is overseeing settlement talks between generators and California officials related to the renegotiation of long-term wholesale electricity deals, last Thursday confirmed to the full Commission that settlements in principle have been reached with four sellers He is “optimistic that many, if not all” of an additional eight power suppliers involved in the talks will be able to reach settlement as well. Several offers and counteroffers between California and the eight sellers are “global in nature” and would resolve all pending claims, including those in a refund case pending at FERC and in the California state courts.

Enron Corp. won approval last week from the bankruptcy court overseeing its case for a new credit line from J.P. Morgan Chase & Co. and Citigroup Inc., which is dramatically smaller than an earlier requested loan. The $250 million loan will be limited to backing letters of credit for the former energy merchant that will allow it to continue its remaining pipeline and merchant energy activities. These types of loans are required to be backed 110% by cash deposits.

Centrica Plc’s bid to take over NewPower Holdings Inc. ended Friday after a New York court overseeing Enron Corp.’s bankruptcy case refused to protect Centrica from future liability related to the bankrupt trader. NewPower had been an Enron subsidiary for less than 50 days before it was spun off as an independent company. The order protecting Centrica from liability claims was considered necessary for it to complete a tender offer for NewPower shares, which was set to expire at midnight Thursday.

The bankruptcy judge overseeing Enron Corp.’s case may decide today whether to move the venue to Houston. Judge Arthur Gonzalez deferred the decision last week on whether to move the case in a lawsuit filed by former merger partner and rival Dynegy Inc., which is involved in several lawsuits with Enron (see related story). Meanwhile, despite claims to the contrary, internal Enron documents seem to indicate that former CEO Jeffrey Skilling may have known more about the dubious off-balance sheet transactions, which precipitated the energy trader’s collapse last year.

Bruce Birchman, the FERC administrative law judge (ALJ) overseeing proceedings related to possible refunds for electricity overcharges in California, last Thursday issued a revised trial schedule related to the proceeding under which he now plans to certify proposed findings of fact in mid-December.

Bruce Birchman, the FERC administrative law judge (ALJ) overseeing proceedings related to possible refunds for electricity overcharges in California, recently issued a trial schedule under which Birchman plans to certify proposed findings of fact in early November.