Preceding

FERC has unveiled its long-awaited final rule on expeditedcomplaint procedures, the focus of which is a “very innovative”fast-track process for resolving “highly time-sensitive” industrydisputes within 20 days after a response is filed. This compares toFERC’s target of up to 60 days for most standard complaints. TheCommission voted out the order notationally after its bi-weeklymeeting last Wednesday.

The storage-poor Pacific Northwest could get some needed reliefin the near future. Avista Corp. and PG&ampE GasTransmission-Northwest (PG&ampE GT-NW) have joined forces toinvestigate building another underground natural gas storagefacility in an aquifer in eastern Washington near theinterconnection of PG&ampE GT-NW and Williams (Northwest Pipeline)at Stanfield, OR.

Avista Corp.’s Internet specialty billing and informationservices affiliate, Avista Advantage, and Texas-based ReliantEnergy have made a product distribution agreement.

FERC has unveiled its long-awaited final rule on expeditedcomplaint procedures, the focus of which is its fast-track processfor resolving industry disputes within 20 to 60 days after aninitial complaint is filed. The Commission voted out the ordernotationally late Wednesday.

The storage-poor Pacific Northwest could get some needed reliefin the near future. Avista Corp. and PG&E GasTransmission-Northwest (PG&E GT-NW) have joined forces toinvestigate building another underground natural gas storagefacility in an aquifer in eastern Washington near theinterconnection of PG&E GT-NW and Williams (NorthwestPipeline).

CMS Energy, announcing completion of the $2.2 billion deal tobuy Duke Energy’s Panhandle Eastern and Trunkline pipeline and LNGassets, also has acquired a president and COO for the new CMSPanhandle Pipeline companies. Christopher A. Helms had been Duke’sgeneral manager of business development and managing director ofits PanEnergy Services Europe subsidiary.

Ocean Energy Inc. (OEI) announced two separate sales worth acombined $116 million and 164 Bcf of gas last week, as it carriedout a debt reduction plan aimed at preparing the company for itsmerger with Seagull Energy. OEI said shareholders for bothcompanies are holding special meetings March 30 to vote on themerger. If they vote in favor, the company will be officiallymerged that afternoon.

Commonwealth Edison (ComEd) parent Unicom received about $1.76billion over book value last week in the largest divestiture yet ofa utility’s fossil-fueled power plants. Edison International’sindependent power subsidiary is buying 9,772 MW of ComEd’s coal-and gas-fired baseload and peaking plants for $5 billion.

Inability to find a buyer for its “high-quality” Gulf of Mexicoproperties pushed Miami-based Forcenergy over the edge into Chapter11 bankruptcy last week, Chairman Stig Wennerstrom said in aconference call. At least one other debt-laden producing companycould follow in its footsteps.