BP Energy Co. said that it sold 170 Bcf of gas to Public Energy Authority of Kentucky Inc. (PEAK) under a 10-year, $1 billion prepaid contract. PEAK, which financed the prepayment with the proceeds of revenue bonds underwritten by Banc of America Securities LLC, will use the gas to serve the baseload requirements of its municipal members and customers in Kentucky, Tennessee and Missouri.
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Articles from Prepayment
NUI Expects to Announce Sales Agreement in Third Quarter
NUI Corp., which put itself up for sale last year after struggling financially, on Thursday announced it had amended its Form 10-Qs for the first and second quarters of fiscal 2004 to reflect prepayments related to its natural gas supply. The Bedminster, NJ-based gas utility said it expects to sign a definitive agreement with a purchaser in the third quarter of this year.
June 18, 2004
Marketer Urges FERC to Revoke PG&E Transmission’s $1.5M Prepayment Demand
In the first action of its kind, a Denver, CO-based marketer is challenging the right of an interstate natural gas pipeline to demand up-front payment of collateral equal to a full year of reservation charges from shippers that are perceived to be potential credit risks.
November 4, 2002
Marketer Urges FERC to Revoke PG&E Transmission’s $1.5M Prepayment Demand
In the first action of its kind, a Denver, CO-based marketer is challenging the right of an interstate natural gas pipeline to demand up-front payment of collateral equal to a full year of reservation charges from shippers that are perceived to be potential credit risks.
October 29, 2002
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