Avista Power said Tuesday it purchased a 20-acre site inLordsburg, NM from TNP Technologies and plans to put a $70 millionpower plant into service on the acreage by early 2000. The terms ofthe sale were not disclosed. The land contains four oldergenerators, which were in the process of being updated. All permitsand licenses will transfer to Avista Power and the transaction isexpected to close within 60 days.
Plans
Articles from Plans
Millennium, Southern Plan Extension to Power Plant
The Millennium Pipeline Project and Southern Energy New York,the company that manages Southern Energy’s New York assets, jointlyannounced Wednesday a plan to build an extension from the proposedMillennium Pipeline to the Bowline Power Plant in Rockland County,NY. The interconnect will be counted as an addition to Millenniumwhich still awaits FERC approval.
Transportation Note
Florida Gas Transmission plans a smart pig run April 5-9 betweenStations 2 (Robstown, TX) and 3 (Port Lavaca, TX). The project willlimit capacity at these interconnects upstream of Station 3:Duke-Robstown (40 MMcf/d), Valero Nueces (35 MMcf/d) and MOPS (75MMcf/d).
FERC Plans ‘Discussion Only’ for New Pipes
The Federal Energy Regulatory Commission is expected to go onthe record this Wednesday with thoughts, but not votes, on thecompeting Independence and Millennium pipeline projects which arevying to be the last link in the new path for western Canadian gasdelivered to the U.S. Northeast.
The Merge Surge Continues: UtiliCorp Buys St. Joseph L&P
UtiliCorp joined the merger-mania Friday as it announced plans to acquire St. Joseph Light &Power in Missouri for $190.6 million. The agreement has been approved by the boards of directors for both companies but still needs approval from Light &Power shareholders and state and regulatory officials. Both companies expect the deal to close in 2000.
PNGTS Plans to Begin Service in March
The Portland Natural Gas Transmission System (PNGTS) andTransQuebec & Maritimes Pipeline (TQM) held a ribbon-cuttingceremony yesterday at the U.S./Canada border to announce completionof the first high-capacity gas pipeline to serve northern NewEngland. Commercial operations, however, are not expected to beginuntil March 6. And PNGTS probably will not be transporting its fullcertificated capacity of 178,000 MMBtu/d until the end of the year,said spokesman John Flumerfelt, because several of the power plantsand paper mills to be served by the pipeline are not completed.
ONEOK Investing in Costilla Acquisition
Midland, TX-based Costilla Energy Inc. and ONEOK Inc. formed astrategic alliance to capitalize on properties Costilla plans toacquire from Pioneer Natural Resources Co. as well as otherpotential transactions. Tulsa, OK-based ONEOK will participate inCostilla’s previously announced $335 million acquisition of oil andgas properties from Pioneer (assuming it is successful) through anequity investment in Costilla preferred stock.
Calpine Plant to Burn Sable Gas
Calpine Corp., a San Jose-based independent power company,announced plans to build, own and operate a 540-megawatt gas-firedpower plant in Westbrook, ME. Calpine acquired development rightsfor the Westbrook Power Plant from Genesis Power Corp. of Needham,MA. Construction of the $300 million facility is scheduled to beginlater this month. The plant, which will burn about 90 MMcf/d, isscheduled to begin power deliveries as early as November 2000 andwill serve the New England market. Westbrook is Calpine’s fourthcombined-cycle facility under development in the New Englandmarket.
DOE Electric Bill Destined For Congress in March
The Department of Energy (DOE) said last week that it plans tosend the long-awaited Clinton administration’s legislation onretail choice for electricity customers to Capitol Hill in thelatter half of March.
CME Plans New Weather-Based Indexes
The Chicago Mercantile Exchange announced Thursday it has filedfor regulatory approval to offer exchange-traded, heating degreeday (HDD) and cooling degree day (CDD) futures and optionscontracts. The CME said these indexes will help companies manageweather-related financial risks. A start date will be set afterCommodity Futures Trading Commission (CFTC) approval.