Calgary’s TC PipeLines LP now owns a 49% interest in the229-mile 20-inch interstate Tuscarora Gas Transmission Co., aNevada general partnership, after paying US$28 million to asubsidiary of TransCanada PipeLines Ltd.
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Edison Picks Up Citizens Power Unit
Peabody Group, the world’s largest coal company, on Friday soldits Citizens Power unit to a subsidiary of Edison International, aswell as selling its third-party power contracts. Peabody, owned byLehman Merchant Banking Partners, is expected to net about $100million from the two transactions, using the money to pay downdebt.
Aspen Picks Up Old Dominion Gas Properties
In an acquisition that CEO Jack E. Wheeler calls “very strategicand synergistic,” the Aspen Group Resources Corp. has acquired 100%of Old Dominion Oil Corp.’s Anadarko Basin producing wells, leases,property and equipment, of which about 90% are natural gasreserves, in an all-cash transaction. Terms of the transaction werenot disclosed.
PECO Picks Up Sithe, Improves Northeast Presence
Following through on its intention to sell the company, independent power producer Sithe Energies last week sold 49.9% of its North American businesses to Philadelphia-based PECO Energy Co. for $682 million, with an option by PECO to purchase the rest of the company within five years.
PECO Picks Up Sithe, Improves Northeast Presence
Following through on its intention to sell the company,independent power producer Sithe Energies yesterday sold 49.9% ofits North American businesses to Philadelphia-based PECO Energy Co.for $682 million, with an option by PECO to purchase the rest ofthe company within five years.
Search for Gas on Northeastern Frontier Picks Up Speed
The northern frontier on the eastern side of the continent isstepping up work on adding new supplies to the North Americannatural-gas market, along with promoters of a development andpipeline revival in Alaska and the Northwest Territories.
Search for Gas on Northeastern Frontier Picks Up Speed
The northern frontier on the eastern side of the continent isstepping up work on adding new supplies to the North Americannatural-gas market, along with promoters of a development andpipeline revival in Alaska and the Northwest Territories.
Allegheny Energy Picks Up power Assets
The Maryland Public Service Commission (PSC) has given a greenlight to the July 1 transfer of 1,300 MW of Allegheny Energy Inc.’sPotomac Edison generating assets to its non-regulated energy supplyaffiliate. The transfer of the generating assets to AlleghenyEnergy Supply Co. LLC will give it more than 5,400 MW of low-costgenerating capacity to sell in the deregulated marketplace.
ECONnergy Picks Up Venture Capital
ECONnergy Energy Co., a competitive energy services providerthat serves the tri-state area of New York, New Jersey andConnecticut, gained financial fuel yesterday with a $15 millionRevolving Enterprise Value Loan from RFC Capital Corp. – a boostexpected to drive ECONnergy’s plans to become an energy alternativeleader in the Northeast.
Atmos Picks Up Citizens’ Louisiana Distribution Assets
Continuing its aggressive acquisitions strategy, Atmos EnergyCorp. said last week it has reached a definitive agreement to pay$375 million for the gas operations of two Citizens Utilities Co.distribution subsidiaries – Louisiana Gas Service Co. and LGSNatural Gas Co. Atmos said the acquisitions will make it thelargest natural gas distributor in Louisiana with 359,000customers.