Powerhouse

As it operates under a new oversight board and is looking for a permanent new general manager, the Imperial Irrigation District (IID), a public-sector powerhouse dealing water and electricity in the southeast corner of California, is still trying to recover from the aftermath of Hurricane Katrina two years ago and subsequent hedging deals for natural gas supplies that went sour.

As it operates under a new oversight board and is looking for a permanent new general manager, the Imperial Irrigation District (IID), a public-sector powerhouse dealing water and electricity in the southeast corner of California, is still trying to recover from the aftermath of Hurricane Katrina two years ago and subsequent hedging deals for natural gas supplies that went sour.

Spanish-based powerhouse Iberdrola SA agreed last week to acquire Portland, ME-based utility Energy East for an estimated $4.5 billion. The New England utility serves 1.8 million electricity customers and 900,000 natural gas customers along the East Coast in Maine, New Hampshire, Massachusetts, Connecticut and New York.

Chicago powerhouse Exelon announced new earnings targets for itsthree principal businesses yesterday, setting targets to grow at arate of about 10% a year through 2003. The company projectedearnings per share of $4.50 for 2001; $4.95 in 2002; and $5.40 in2003. Previous earnings per share had been $4.20 for 2001; $4.60 in2002; and $5.10 in 2003. Reduced amortization, partially offset byhigher spending for operations in its energy delivery business, isthe principal driver for the earnings increase said Exelonofficials. Exelon was formed in September 1999 in the merger ofPECO Energy Co. and Unicom Corp., and is one of the largestelectric utilities and the largest nuclear operator in the UnitedStates.

Houston’s Midcoast Energy Resources Inc., a pipeline powerhousein the southeastern United States, tightened its grip in Alabamaafter reaching an agreement last week with Calpine Corp. to provideup to 276 MMcf/d in natural gas transportation services to twofacilities in Alabama.

Houston’s Midcoast Energy Resources Inc., a pipeline powerhousein the southeastern United States, tightened its grip in Alabamaafter reaching an agreement yesterday with Calpine Corp. to provideup to 276 MMcf/d in natural gas transportation services to twofacilities in Alabama.

Two Louisiana companies announced Friday they’ve cooked up apowerhouse gumbo, a stew that is expected to heat up the wholesalepower market in regional hubs around the country. New Orleans-basedutility giant Entergy and the Baton Rouge-based construction firm,The Shaw Group, are blending their talents to form Entergy-Shaw, astrategic joint venture that is expected to accelerate Entergy’sgoal of becoming a dominant low-cost wholesale power provider inkey regional energy hubs.

Shareholders of NiSource Inc. and Columbia Energy Groupoverwhelmingly approved the merger of the two companies, whichwould create a mega energy powerhouse serving nine states and morethan 4 million customers, stretching from Chicago in the west toNew England in the east and south to the Gulf of Mexico.

Two Louisiana companies announced Friday they’ve cooked up apowerhouse gumbo, a stew that is expected to heat up the wholesalepower market in regional hubs around the country. New Orleans-basedutility giant Entergy and the Baton Rouge-based construction firm,The Shaw Group, are blending their talents to form Entergy-Shaw, astrategic joint venture that is expected to accelerate Entergy’sgoal of becoming a dominant low-cost wholesale power provider inkey regional energy hubs.