As Ivan pounded the Gulf Coast last week, playing havoc with both the electrical and natural gas infrastructures, FERC Chairman Patrick Wood said the agency would give regulated energy companies more time to report infractions of the Commission’s standards of conduct that may occur during their efforts to maintain system reliability.
Pounded
Articles from Pounded
CMS Shares Fall 5% After 2Q Loss
CMS shares were pounded down about 5% Tuesday morning to $6.12/share after the company reported a net loss of $45 million, or $0.31 per share, for the second quarter, and adjusted its estimates of full-year reported earnings from roughly break-even to a loss of about $1 per share. The full-year adjustments, which include results from discontinued operations, were due to pension expenses, increased financing costs and changes in the timing of asset sales, such as its Loy Yang power plant in Australia.
August 13, 2003
Dynegy, Other Energy Merchants Pounded by Investigations, Negative News
Merchant energy shares were hammered last week by multiple factors, the most significant being a FERC inquiry into the California electricity transactions of 150 energy merchants and power generators prompted by several Enron memos disclosed by FERC on Monday (see related story). Dynegy was struck particularly hard following an announcement on Tuesday that the Securities and Exchange Commission launched a formal investigation into its Alpha Project — a complex gas supply transaction. That was followed by news that some large “wash-out” power deals with CMS Energy might also be included in the probe.
May 13, 2002
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