Picks

LG&E Energy Corp. positioned itself to take advantage of theexpanding pipeline construction industry last week by purchasingCRC Holdings Corp., parent of the pipeline construction equipmentcompany CRC-Evans Pipeline International, for a total of $83.5million. The deal closed on Friday. No layoffs are expected.

Avista Energy, emphasizing people power in its drive to become anational energy marketing and technology company, has just namedsix new vice presidents, picking up talent from IllinoisPower/Illinova Energy and Enron Capital and Trade among others.

Packaged Ice Inc. plans to outsource energy management of 60U.S. ice manufacturing facilities to Enron Energy Services (EES).Enron will evaluate and implement capital projects related toPackaged Ice’s “private utility” to increase productivity andefficiency of the plants. Enron also will provide electricity ormanage energy procurement at the facilities.

In its latest bid to add generation assets to its growingportfolio, Reliant Energy selected a 125-acre plot of land inMcHenry County, IL, last week as the site to develop a 500 MW,gas-fired power plant. The cost of the project was not disclosed. AReliant spokesperson said the company hopes to have the plant inservice by mid-2001.

In its latest bid to add generation assets to its growingportfolio, Reliant Energy selected a 125-acre plot of land inMcHenry County, IL, Tuesday as the site to develop a 500 MW,gas-fired power plant. The cost of the project was not disclosed. AReliant spokesperson said the company hopes to have the plant inservice by mid-2001.

El Paso Field Services entered the energy project financingarena with last week’s purchase of En Cap Investment Co. for $52million in cash and stock. Robert Phillips, El Paso Field Services’president, said all regulatory issues have been settled and thedeal will be accretive to El Paso’s earnings beginning April 1.

Avista Energy, a Washington Water Power (WWP) affiliate,continued its expansion onslaught Thursday by announcing that itacquired Vitol Gas and Electric LLC, a full service energy marketerserving the eastern U.S. Terms of the agreement were not madepublic. The deal is expected to close in early 1999.

Natural Gas futures tumbled late in the trading session Tuesday,breaking momentarily below major support at $1.945, before settlingat $1.951. The nearly 15-cent slide exhibited by the Augustcontract comes on the heels of a nearly 3-week decline, leavingmany traders wondering if Tuesday’s big move lower was the end ofthe downtrend or one just picking up speed. Estimated volume of106,004 contracts favored the later.

AGL Resources, parent of LDC Atlanta Gas Light, said Atlanta GasLight Services will be the name of its non-regulated marketingaffiliate when competition begins in Georgia. Not everyone is happywith the choice.