Denver-based Barrett Resources Corp., still stating publicly that it is barring the doors against a hostile takeover by giant Royal Dutch/Shell, postponed its annual shareholder meeting set for early May, as it continues to search for strategic options to Shell’s cash offer of $55 per share. Barrett rejected the amount as inadequate, but Shell has continued the pursuit, extending its offer through midnight last Friday.
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GPSC Passes Controversial Emergency Rules
The Georgia Public Service Commission (GPSC) last weekunanimously voted out two orders, one that offers customers theoption of changing gas marketers monthly and one that prohibits gasdisconnections for residential customers until April 1. A thirdorder, which will allow customers to change marketers even if theyhave outstanding debt with their previous marketer, squeaked by ona three to two vote with Commissioner Stan Wise˜and newly appointedChairman Lauren “Bubba” McDonald dissenting.
GPSC Passes Controversial Emergency Rules
The Georgia Public Service Commission (GPSC) last weekunanimously voted out two orders, one that offers customers theoption of changing gas marketers monthly and one that prohibits gasdisconnections for residential customers until April 1. A thirdorder, which will allow customers to change marketers even ifÿtheyhave outstanding debt with their previous marketer, squeaked by ona three to two vote with Commissioner Stan Wiseÿand newly appointedChairman Lauren “Bubba” McDonald dissenting.
Terra Passes on January Gas, Idles Plants
With winter setting in for the long haul, two indicators havebecome a constant. Natural gas prices continue to stay pegged inthe upper echelon, and fertilizer producing companies continue toscale back their natural gas-intensive process of producing itemssuch as ammonia and methanol.
SDG&E Passes on Power Deals
Even in the wake of the summer’s power crisis and emergencymeasures, San Diego Gas and Electric can’t find any long-term powerpurchase deals to its liking, and, in fact, it has pulled back arequest-for-proposal it had outstanding, soliciting longer-term,fixed price contracts.
GSPC Passes Delivery Rate Restructuring, Declares Refund
In an effort to ease residential consumers’ deregulation growingpains, The Georgia Public Service Commission (GPSC) votedfive-to-none yesterday to approve an estimated $40 millionresidential refund plan, which would help ease what are sure to behigh gas bills this coming winter. The commission also voted toapprove a new sculptured tariff for distribution charges instead ofthe current flat rate by a vote of four-to-one, with CommissionerRobert Baker dissenting.
CA Legislature Passes Band-Aid Price Caps
No one is satisfied much by the California legislature’s11th-hour move late Wednesday to pass two new laws aimed atproviding relief for San Diego electric consumers and their utilitydistribution company, San Diego Gas & Electric. Nevertheless,the governor was expected to sign the measures.
Senate Passes Reliability Bill; House Holds Out for More
The full Senate passed by unanimous consent a stand-aloneelectric reliability bill late last week, while House CommerceCommittee Thomas Bliley (R-VA) moved ahead full throttle with plansto mark up a comprehensive power bill and bring it to the Housefloor before the end of July.
Senate Passes Reliability Bill; House Wants More
The full Senate passed by unanimous consent a stand-aloneelectric reliability bill late last week, while House CommerceCommittee Chairman Thomas Bliley (R-VA) moved ahead full throttlewith plans to mark up a comprehensive power bill and bring it tothe House floor before the end of July.
PG&E AZ Power Plant Passes Test
PG&E Corp. is the latest energy giant to seek a toehold inthe fast-growing Arizona merchant power plant market, gaining aninitial state approval last week, but facing up to a half-dozencounty, state and federal environmental reviews for a proposed $500million, 1,040 MW natural gas-fired plant near Phoenix.