DuPont’s board of directors approved the previously announcedinitial public offering (IPO) of Conoco common stock before the endof 1998. Following completion of the IPO, DuPont intends to offerits remaining Conoco shares to DuPont shareholders in exchange forDuPont shares in a tax-free split-off expected to be completedwithin 12 months.
Articles from Public
Marketers participating in the soon-to-be-unbundled Georgiamarket scored some key victories in a decision last week by theGeorgia Public Service Commission which will provide them withcomplete customer information from Atlanta Gas Light in electronicformat, allow them a chance to prove they can do their own meteringand allow free trading of daily imbalances.
Although the public’s overall awareness of energy deregulationhas inched up over the past three years, a majority of residentialand business customers surveyed say they still know next to nothingabout the issue and its potential effect on them, according to theresults of two major surveys issued last week.
Although the public’s overall awareness of energy deregulationhas inched up over the past three years, a majority of residentialand business customers surveyed say they still know next to nothingabout the issue and its potential effect on them, according to theresults of two major surveys issued this week.
Marketers lost a battle against LDCs last month when theMichigan Public Service Commission (MPSC) sided with MichiganConsolidated Gas (MichCon) and Consumers Energy in a dispute overfees charged for tracking title to gas that changes hands on theLDCs’ systems. The MPSC found it had no jurisdiction to regulatetitle transfer tracking fees.
The Pennsylvania Public Utility Commission has approved anexpansion of Columbia Gas of Pennsylvania’s customer choice pilotprogram to include 270,000 residential and small-commercialcustomers in south-central and western Pennsylvania, or about 70%of the company’s customers.
Atlanta Gas Light Services has vowed to fight a decision by aGeorgia Public Service Commission hearing officer that wouldprohibit the company from using the name of its utility affiliate,Atlanta Gas Light. The marketing affiliate filed an appeal June 26,contending the initial decision, if upheld, would “reducecompetition in direct violation of the statutory purposes of the[Georgia] Natural Gas Act” when the deregulated market opens thisfall.
Northern Indiana Public Service Co. (NIPSCO) announced it isexpanding its NIPSCO Choice program to an additional 32,000residential customers in the South Bend area this summer and willintroduce the program to Fort Wayne-area residents early next year.In addition, the number of commercial and small industrialcustomers eligible to choose alternate suppliers will increase to10,000.
South Jersey Gas received approval from the New Jersey Board ofPublic Utilities to expand its residential transportation programallowing 12,500 more customers to select an independent natural gasmarketer. “Last year, 13,000 customers tested the uncharted watersof deregulation by signing up with an independent marketer,” saidCharles Biscieglia, president of South Jersey. “Finding ways tohelp our customers reduce energy costs is important to us andanything we can do to create a potential for savings is a positivestep.” Enrollment for the expanded program closes July 31, 1999.South Jersey serves 260,000 residential, commercial and industrialcustomers in Atlantic, Cape May, Cumberland, Salem, and significantportions of Camden, Gloucester and Burlington counties.