Proposal

Sen. Dianne Feinstein (D-CA) and about a half a dozen other senators plan to soon introduce a “modified” version of her amendment to re-regulate the trading of over-the-counter (OTC) energy derivatives, a spokesman for her office said Monday. This marks the second time that Feinstein’s controversial measure to the Senate omnibus energy bill (S. 517) has been revised.

As the United States faces greater uncertainty from the Middle East in meeting its growing fuel demands, U.S. Ambassador Paul Celluci said that the country will rely even more on Canada to meet its “growing thirst” for oil, natural gas and electricity. Celluci’s comments followed claims this week by Alberta that it is winning more support from the energy industry to serve as a hub for “any” gas pipelines from the Arctic.

As the United States faces greater uncertainty from the Middle East in meeting its growing fuel demands, U.S. Ambassador Paul Celluci said that the country will rely even more on Canada to meet its “growing thirst” for oil, natural gas and electricity. Celluci’s comments followed claims this week by Alberta that it is winning more support from the energy industry to serve as a hub for “any” gas pipelines from the Arctic.

Xcel Energy Inc. has filed a proposal with the Colorado Public Utilities Commission to reduce the natural gas component of its Colorado retail rates by $571 million a year. If approved, the gas cost adjustment would reduce the delivered price of gas by more than 40% beginning in October. Under the plan, Xcel would reduce the cost of gas to $2.79/Mcf from the $6.91/Mcf that customers paid last winter during the escalating price swings. The costs are in addition to fixed delivery rates, which include metering, billing and distribution costs, and they vary depending on the customer.

Xcel Energy Inc. on Monday filed a proposal with the Colorado Public Utilities Commission to reduce the natural gas component of its Colorado retail rates by $571 million a year. If approved, the gas cost adjustment would reduce the delivered price of gas by more than 40% beginning in October.

The Philadelphia Gas Works (PGW) has filed a settlement proposal with the Pennsylvania Public Utility Commission, including a gas cost reduction of 20%, that adds up to about $171 million.

Although no one is willing to bet on its becoming law, the legislative proposal to rescue Southern California Edison Co. Friday was rested in place at a state Assembly appropriations committee, which will resume making technical amendments to it Tuesday after Labor Day. A vote by the full lower house of the legislature could come late Tuesday or Wednesday.

A proposal calling on FERC to conduct a formal investigation into wholesale power rates in western markets has been stripped out of the emergency legislation that was introduced Friday by Chairman Joe Barton (R-TX) of the House Energy and Air Quality Subcommittee.

A proposal calling on FERC to conduct a formal investigation into wholesale power rates in western markets has been stripped out of the latest discussion draft of emergency legislation that was released Tuesday by Chairman Joe Barton (R-TX) of the House Energy and Air Quality Subcommittee.