Promises

The coming decade promises to reveal a different utilityindustry than the one today, which already is bursting around theedges from the speed-of-light changes, according to Victor A. Burk,a managing partner in Arthur Andersen’s energy and utilitiesindustry sector. Burk offered what he termed his “megatrends” athis company’s energy symposium last week in Houston.

The coming decade promises to reveal a different utilityindustry than the one today, which already is bursting around theedges from the speed-of-light changes, according to Victor A. Burk,a managing partner in Arthur Andersen’s energy and utilitiesindustry sector. Burk offered what he termed his “megatrends” athis company’s energy symposium this week in Houston.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake laggard stock performance and the disclosure of accountingirregularities that have launched a slew of investor lawsuits.

Joe B. Foster, the new chief — at least for now — of BakerHughes Inc., is promising improved performance to shareholders inthe wake of the disclosure of accounting irregularities that havelaunched a slew of investor lawsuits.

This Wednesday’s FERC meeting promises to be a blockbuster. Forone, the Commission has placed the hotly contestedSupplyLink-Independence Pipeline-MarketLink projects on the agenda,essentially thumbing its nose at New Jersey Gov. Christine ToddWhitman’s request for at least a 60-day delay [CP97-319, CP97-315,CP98-540].

Next Wednesday’s FERC meeting promises to be a blockbuster. TheCommission has placed the hotly contested SupplyLink-IndependencePipeline-MarketLink projects on the agenda, essentially thumbingits nose at New Jersey Gov. Christine Todd Whitman’s request for a60-day delay [CP97-319, CP97-315, CP98-540].

FERC Chairman James J. Hoecker announced last week that staffhas developed new timelines that could reduce the litigation timeby one-third for cases set for hearing before the Commission’sadministrative law judges (ALJ). The new timelines take effectimmediately, and apply to new cases and any pending cases thathaven’t had a procedural schedule set by a presiding judge.

It’s been a year since the completion of its C$11 billion mergerwith Nova Corp., but TransCanada Pipelines finally came through onpromised savings yesterday. The pipeline company said it will give$70 million in merger-related savings to its pipeline customersthrough “targeted operating cost reductions.” An agreement on thereductions was filed with Canada’s National Energy Board and theAlberta Energy and Utilities Board yesterday.

With promises for the “de-carbonization of energy,” more stateinvolvement in Energy Department’s initiatives, and “help for ourown people-domestic oil and gas producers,” the new DOE SecretaryBill Richardson sparked a standing ovation from approximately 400attendees at the DOE-NARUC Natural Gas Conference in Pittsburghlast week.