Shares of Allegheny Energy Inc. were off by more than an eye-popping 50% at one point last Tuesday after the company said that it is in technical default under its principal credit agreements and those of its subsidiaries, Allegheny Energy Supply Company LLC and Allegheny Generating Co., after it declined to post additional collateral in favor of several trading counterparties.
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Power Projects Popping Up Like Weeds in Texas
Texas Independent Energy, a 50-50 joint venture of PSEG Global of New Jersey and Panda Energy International of Dallas, plans to design, build and operate a third merchant power plant in Texas. This one, to be in Ector County, represents a total investment of about $300 million. The Ector County plant will burn an average of 145 MMcf/d with a peak gas consumption of 170 MMcf/d. Commercial operation is expected by summer 2001.
April 19, 1999
Power Projects Popping Up Like Weeds in Texas
Texas Independent Energy, a 50-50 joint venture of PSEG Globalof New Jersey and Panda Energy International of Dallas, plans todesign, build and operate a third merchant power plant in Texas.This one, to be in Ector County, represents a total investment ofabout $300 million. The Ector County plant will burn an average of145 MMcf/d with a peak gas consumption of 170 MMcf/d. Commercialoperation is expected by summer 2001.
April 15, 1999
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