power

TransCanada Pipelines Ltd is on the move again. A week ago thecompany’s power subsidiary purchased Westcoast Energy’s interests infive Canadian cogeneration plants in a deal valued at C$512million. This week, its midstream subsidiary is selling its naturalgas gathering and processing assets in Saskatchewan to newcomer VISTAMidstream Solutions Ltd (see Daily GPI, Sept. 8).

Florida Power & Light announced that it has filed apreliminary action with the Florida Public Service Commission(FPSC) for permission to recover $518 million in excess expense dueto the “skyrocketing cost of oil and natural gas.”

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.

The Maryland Public Service Commission (PSC) has given a greenlight to the July 1 transfer of 1,300 MW of Allegheny Energy Inc.’sPotomac Edison generating assets to its non-regulated energy supplyaffiliate. The transfer of the generating assets to AlleghenyEnergy Supply Co. LLC will give it more than 5,400 MW of low-costgenerating capacity to sell in the deregulated marketplace.

El Paso Merchant Energy Co. will manage Niagara Mohawk PowerCorp.’s gas supply and storage refill program in a seven-monthasset management agreement announced last week. The agreement,signed April 1, gives El Paso Merchant management responsibilitiesover Niagara Mohawk’s existing term supply, interstatetransportation and underground storage. The total volume of gas tobe supplied over the term of the agreement is 40 Bcf. El PasoMerchant will handle storage for 20 Bcf.

Under terms of a deal already announced, Southern CaliforniaEdison last week continued shopping its interests in nuclear andcoal-fired generating plants in the Southwest. In play are 1,300MWs for which Edison already has an offer of $550 millioncollectively from Arizona-based Pinnacle West Energy Corp.

El Paso Merchant Energy Co. will manage Niagara Mohawk PowerCorp.’s gas supply and storage refill program in a seven-monthasset management agreement announced yesterday. The agreement,signed April 1, gives El Paso Merchant management responsibilitiesover Niagara Mohawk’s existing term supply, interstatetransportation and underground storage. The total volume of gas tobe supplied over the term of the agreement is 40 Bcf. El PasoMerchant will handle storage for 20 Bcf.

Cash quotes continued to rise Wednesday in both swing deals fortoday and in what little bit of bidweek business remained to bedone. However, doubt was growing about how much longer theunprecedented recent price strength can be maintained after futuresreacted negatively to a storage report for the first time in morethan a month.

Under terms of a deal already announced, Southern CaliforniaEdison last week continued shopping its interests in nuclear andcoal-fired generating plants in the Southwest. In play are 1,300MWs for which Edison already has an offer of $550 millioncollectively from Arizona-based Pinnacle West Energy Corp.