Powers

Normal temperatures have returned to North America, but naturalgas usage, which powers nearly three quarters of the continent,remains high, said El Paso Corp.’s John Somerhalder II, who made itclear that the market will continue to grow at a rapid rate — buthe muddied his forecast by questioning where the gas would befound, calling the “challenges more severe than we anticipated.”

Iroquois Gas Transmission System LP’s Eastchester ExtensionProject became fully subscribed last week and is slated to bring230 MDth/d to power electric generation to serve residential,industrial and commercial customers in New York City – now servedby Consolidated Edison Energy Inc., KeySpan Ravenswood Inc., OrionPower Holdings Inc., Mirant New York Management Inc. and VirginiaPower Energy Marketing Inc.

Iroquois Gas Transmission System LP’s Eastchester ExtensionProject has been fully subscribed and will bring 230 MDth/d topower electric generation to serve residential, industrial andcommercial customers in New York City served by Consolidated EdisonEnergy Inc., KeySpan Ravenswood Inc., Orion Power Holdings Inc.,Mirant New York Management Inc. and Virginia Power Energy MarketingInc.

CA Gov. Gray Davis yesterday used his emergency powers again toseize a state utility’s defaulted contracts in the California PowerExchange (Cal-PX). In an afternoon press briefing, the governordeclined to discuss the details of the initial long-term powercontracts signed by the state with electric suppliers so far,saying only that an announcement will be made today and will be”positive.”

Add a few letters, along with a few major acquisitions, and”Dynegy” is quickly becoming “Dynamo” in the power generatingbusiness. Last week, the Houston company said it was buying twoupstate New York fossil fuel power plants for $903 million, adding1,700 MW of electricity to its portfolio, but more important,increasing its geographic impact on the generation marketnationwide.

Add a few letters, along with a few major acquisitions, and”Dynegy” is quickly becoming “Dynamo” in the power generatingbusiness. Yesterday, the Houston company said it was buying twoupstate New York fossil fuel power plants for $903 million, adding1,700 MW of electricity to its portfolio, but more important,increasing its geographic impact on the generation marketnationwide.

Finding superlatives to match the second-quarter earnings reports for energy companies across the United States in the past few weeks has been difficult at best. With earnings doubled, tripled, and for some even quadrupled, there was little bad news to report. High natural gas and crude prices, coupled with high demand, have guaranteed magnificent returns across the board.

Finding superlatives to match the second-quarter earningsreports for energy companies across the United States in the pastfew weeks has been difficult at best. With earnings doubled,tripled, and for some even quadrupled, there was little bad news toreport. High natural gas and crude prices, coupled with highdemand, have guaranteed magnificent returns across the board.

Southern Company opened its new energy trading floor in Atlantayesterday, establishing the electronic nerve center of thecompany’s growing body of North American assets.