Partially

Its merger with MCN Energy had a significant negative impact on second quarter earnings, DTE Energy reported, but it was able to partially mitigate the impact of electric restructuring costs. It also expects improved results during the third and fourth quarters.

Three major Gulf of Mexico deepwater announcements were unveiled Wednesday, partially discounting reports by analysts recently that offshore production is tapering off based on rig counts. Confirming ramp ups following discoveries in deepwater were Dominion Exploration & Production Inc., and two involving Texaco, one with BP and another with Agip SpA.

Three major Gulf of Mexico deepwater announcements were unveiled Wednesday, partially discounting reports by analysts recently that offshore production is tapering off based on rig counts. Confirming ramp ups following discoveries in deepwater were Dominion Exploration & Production Inc., and two involving Texaco, one with BP and another with Agip SpA.

Perhaps partially in response to recent customer protests (seeDaily GPI, Dec. 19, 2000 and Jan. 2), Northwest lifted Wednesday itsrealignment and must-flow OFOs through the Kemmerer (WY) CompressorStation but said it reserves the right to re-impose both OFOs upon 24hours’ notice. The pipeline said it determined that ending the orderswas feasible “as a result of more favorable pricing conditions,reduced northbound volumes and increased southbound volumes” throughKemmerer. The must-flow OFO was implemented Nov. 16 (see Daily GPI, Nov. 16, 2000) and had its originalrequirement of up to 10% of contract demand flowing south throughKemmerer revised several times. The realignment OFO was issued Nov. 10(see Daily GPI, Nov. 13, 2000).

When the retail market partially opens to competition in Texasnext June, it will be a “whole new ballgame,” according to anofficial with the Electric Reliability Council of Texas, but moregeneration, additional transmission lines and increased capacityshould guarantee the state faces no problems similar to those seenby California this year.

Frederickson Power acquired a partially built gas-fired 249 MWelectricity generating facility located in Fredrickson, WA from theBonneville Power Administration for $25.1 million. FredericksonPower is a partnership between Westcoast power and EPCOR PowerDevelopment Corporation. “Completion of the Frederickson Powerproject will provide an alternative to existing hydro-electricpower facilities that can not meet increased demand,” saidWestcoast Power President Jeff Meyers. “It will produce energysafely and efficiently with a preferred fuel source which supportsefforts to improve local air quality and addresses climate changeconcerns.” The plant is expected to cost $160 million and has acomercial operation date set for the middle of 2002.

Although its requests were partially met last week by theFederal Energy Regulatory Commission, the New York IndependentSystem Operator got an earful from FERC Commissioners, including anultimatum to get its systems in proper working order or have itsauthority taken away.

Although its emergency requests were partially met yesterday bythe Federal Energy Regulatory Commission, the New York IndependentSystem Operator got an earful from FERC Commissioners, including anultimatum to get its systems in proper working order or have itsauthority taken away.

Higher prices and production, partially offset by merger costs,pushed third quarter earnings of Consolidated Natural Gas up 90% to$10.8 million, or 11 cents per share, from $5.7 million, or 6cents/share, a year earlier. Excluding costs related to the pendingmerger with Dominion Resources, Inc., of $7.7 million, or 6cents/share after taxes, income from continuing operations in thethird quarter of 1999 was $16.4 million, or 17 cents per share.