Plan

Dominion Resources and Peoples Energy announced plans to expandElwood Energy LLC’s peaking gas-fired power plant in Elwood, IL, byan additional 600 MW. The expansion to the state’s first merchantpower facility will double the capacity to 1,200 MW and is thesecond phase in a process that is expected to eventually bringtotal capacity of the plant to 3,100 MW.

SCANA Corp. and Public Service Co. of North Carolina, Inc.(PSNC) received their merger approval from the SEC yesterday. Theapproval represents the last remaining federal or state approvalneeded to complete the transaction. The companies expect tocomplete the merger today.

BP Amoco and Atlantic Richfield Co. plan to take the next formalstep to close their merger by restarting the required 20-day noticeperiod, suspended Nov. 2, to the US Federal Trade Commission (FTC).The companies concede the FTC has concerns about their pairing, butthe merger partners said they don’t agree with the issues raised bythe commission.

Viking Gas Transmission has appealed to FERC not to “silencedebate” on a limited Section 4 proposal that would allow it tocharge higher incremental rates for historically lower-pricedcapacity as it opens up on its system, without having to file afull-scale rate case.

Viking Gas Transmission has appealed to FERC not to “silencedebate” on a limited Section 4 proposal that would allow it tocharge higher incremental rates for historically lower-pricedcapacity as it opens up on its system without having to file afull-scale rate case.

The Maryland Public Service Commission approved Potomac ElectricPower Co.’s (Pepco) plan to sell its power plants and usher incustomer choice of suppliers beginning July 1.

Plans for a new publicly-traded energy giant were revealed last week, as Duke Energy and Phillips Petroleum announced their intentions to form a midstream company called Duke Energy Field Services (DEFS). Expected to have an enterprise value of between $5 and $6 billion, DEFS will result from a merger of Duke’s gathering and processing businesses (also called Duke Energy Field Services) with Phillips’ Gas Processing and Marketing (GPM) unit. Subject to approval by the FTC under the Hart-Scott-Rodino act, the deal is expected to close by the first quarter 2000.

New York state’s senate majority revealed a proposal recently toeliminate the gross receipts tax (GRT) on gas and electricity. Theproposal will be included in the senate majority’s tax reductionplan for the 2000 session, which will convene in January. JosephBruno, the senate majority leader, announced the proposal in aspeech before the New York State Economic Development Council lastweek.

New York state’s senate majority revealed a proposal recently toeliminate the gross receipts tax (GRT) on gas and electricity. Theproposal will be included in the senate majority’s tax reductionplan for the 2000 session, which will convene in January. JosephBruno, the senate majority leader, announced the proposal in aspeech before the New York State Economic Development Council lastweek.