Policy

Invoking a new policy, albeit with conditions, the Arizona Corporation Commission (ACC) last Thursday pre-approved Southwest Gas Corp.’s participation in a proposed 750,000 Dth/d interstate natural gas pipeline that Kinder Morgan intends to build from the San Juan Basin to the Phoenix area and then West to the California border. Arizona’s deep thirst for new gas supplies prompted the move, regulators indicated in approving the gas utility’s pre-approval request.

Bedminster, New Jersey-based NUI Corp., which is on the auction block, reported a 62-cent loss per share from continuing operations for the quarter compared to a loss of 16 cents/share in the same quarter last year and analysts’ expectations of a 40 cents/share quarterly loss. The company also announced that it is considering cutting its dividend.

Bedminster, New Jersey-based NUI Corp. which is on the auction block, reported a 62-cent loss per share from continuing operations for the quarter compared to a loss of 16 cents/share in the same quarter last year and analysts’ expectations of a 40 cents/share quarterly loss. The company also announced that it is considering cutting its dividend.

Canadian natural gas producers have found a procedural crack in Alberta’s bitumen policy and widened it into a doorway to gain at least a temporary reprieve from an order to shut in 938 wells found to jeopardize oil sands projects in northern Alberta. About 80% of the wells stayed open after the Sept. 1 shut-in date set by the July order, when 11 production companies filed a flood of about 740 exemption applications with the Alberta Energy and Utilities Board.

Canadian natural gas producers have found a procedural crack in Alberta’s bitumen policy and widened it into a doorway to gain at least a temporary reprieve from an order to shut in 938 wells found to jeopardize oil sands projects in northern Alberta. About 80% of the wells stayed open after the Sept. 1 shut-in date set by the July order, when 11 production companies filed a flood of about 740 exemption applications with the Alberta Energy and Utilities Board.

Driven by pipeline earnings within its master limited partnership (MLP) and a solid performance from fee-based assets, Kinder Morgan Inc. (KMI) reported a 29% increase in second quarter earnings on Wednesday. The company also announced major changes to its executive compensation policies to more closely align with what the CEO called shareholder interests.

Driven by pipeline earnings within its master limited partnership (MLP) and a solid performance from fee-based assets, Kinder Morgan Inc. (KMI) reported a 29% increase in second quarter earnings on Wednesday. The company also announced major changes to its executive compensation policies to more closely align with what the CEO called shareholder interests.

Echoing the warnings of many other utilities across the country, Alabama Gas Corp. (Alagasco) told its gas customers Wednesday that higher bills are on the way this coming heating season. Following Piedmont Natural Gas’ lead earlier in the week, the utility also called for the implementation of a comprehensive national energy strategy, which it believes is necessary to address high natural gas prices (see Daily GPI, July 8).

Major policymakers will speak about national energy policy issues at a major conference on Tuesday (Sept. 24) to be hosted by the U.S. Chamber of Commerce in Washington, DC. Scheduled speakers will include FERC Chairman Pat Wood, Rep. W.J. “Billy” Tauzin (R-LA), chairman of the House Energy and Commerce Committee, and Sen. Jeff Bingaman (D-NM), chairman of the Senate Natural Resources Committee. The conference, “Energy Summit 2002, Ensuring America’s Energy Supply,” will run from 8:30 a.m.-5 p.m. at the Chamber headquarters, located at 1615 H St. NW. For further information, parties should contract Chris Merida at (202) 463-5648 or go to www.uschamber.com. Chamber members will be charged $325 to attend the event; non-members, $425. The price at the door will be $500.