The Potomac-Appalachian Transmission Highline (PATH), a 765-kV electric transmission project planned to run between West Virginia and Frederick, MD, has been shelved in the wake of a PJM Interconnection analysis, which cited “the outlook for a slower economic recovery.”
Articles from Potomac
Extreme cold sent demand to record levels Tuesday in Washington Gas Light’s service territory, and the company said some of its equipment in Potomac, MD, failed under the stress of high usage, leaving about 660 customers without gas for about 24 hours.
Potomac Electric Power Co. (Pepco) and Mirant Corp. have reached a proposed settlement of all litigation between the companies arising from Mirant’s 2003 bankruptcy and related matters.
Transcontinental Gas Pipe Line Corp. said it executed precedent agreements for the Potomac Expansion Project with Washington Gas Light Co., Baltimore Gas and Electric and Columbia Gas of Virginia to transport a total of 165,000 Dth/d of gas from receipt points with Pine Needle LNG and East Tennessee Natural Gas in North Carolina to delivery points in Northern Virginia and Maryland beginning as early as November 2007.
The proposed merger between Potomac Electric Power Co. and Conectiv came one step closer to becoming a reality last Tuesday after the Delaware Public Service Commission (PSC) voted to approve the transaction.
Rumors last week about a potential marriage between Mid-Atlanticutilities Potomac Electric Power and Conectiv turned out to be onthe money. The two companies announced yesterday that Pepco willbuy Conectiv for a combination of cash and stock valued at $2.2billion or $25/CIV share, a 19% premium compared to Friday’s close.
Officials at Potomac Electric Power Co. (Pepco) would notconfirm nor deny a report in The Wall Street Journal last week thatPepco has made an offer to buy Delaware-based Conectiv Inc. for $2billion in cash and stock. A spokesman said it might be a good ideato check back with the Washington, D.C.-based utility this week.The Journal reported the deal would be announced within a few days.
Officials at Potomac Electric Power Co. (Pepco) would notconfirm nor deny a report in The Wall Street Journal yesterday thatPepco has made an offer to buy Delaware-based Conectiv Inc. for $2billion in cash and stock. A spokesman said it might be a good ideato check back with the Washington, D.C.-based utility next week.The Journal reported the deal would be announced within a few days.
Washington D.C.-based Potomac Electric Power Company (Pepco) isseeking a stay in a lower court in Maryland of a July 1 orderissued by state regulators, which restricts the businessrelationship between in-state electric and gas utilities and theirnon-regulated subsidiaries.