Pulls

Market changes and tough capital market conditions prompted NRG Energy Inc. to cancel plans last week to buy 794 MW of power generation from Conectiv subsidiary Atlantic City Electric Co.

Sierra Pacific Resources and Enron Corp. agreed last week to terminate their purchase and sale agreement for Enron’s wholly owned electric utility subsidiary, Portland General Electric. The termination had been hinted at during a recent conference call with Enron CEO Jeffrey Skilling. The western energy crisis was blamed for the cancellation.

Nine months after it began looking for a buyer, Canadian 88 Energy Corp. has taken itself off the selling block, announcing last Tuesday that financial and operating results have improved enough to succeed independently as a mid-sized natural gas producer. Company officials also acknowledged that in their opinion, potential buyers weren’t prepared to pay enough for the Calgary-based company’s increased gas production potential.

Enron Corp. has decided not to move forward with plans to construct a 500 MW power plant in Pompano Beach, FL, a decision that company spokesperson Eric Thode said is in keeping with Enron’s overall practice of going into a state with plans to build more plants than the company actually intends to construct. Thode emphasized that the move had nothing to do with public opposition to the facility.

Enron Corp. has decided not to move forward with plans to construct a 500 MW power plant in Pompano Beach, FL, a decision that company spokesperson Eric Thode said is in keeping with Enron’s overall practice of going into a state with plans to build more plants than the company actually intends to construct. Thode emphasized that the move had nothing to do with public opposition to the facility.

Nine months after it began looking for a buyer, Canadian 88 Energy Corp. has taken itself off the selling block, announcing Tuesday that financial and operating results have improved enough to succeed independently as a mid-sized natural gas producer. Company officials also acknowledged that in their opinion, potential buyers weren’t prepared to pay enough for the Calgary-based company’s increased gas production potential.

Sierra Pacific Resources and Enron Corp. agreed yesterday to terminate their purchase and sale agreement for Enron’s wholly owned electric utility subsidiary, Portland General Electric. The termination had been hinted at during a recent conference call with Enron CEO Jeffrey Skilling (see Daily GPI, March 26).

Even in the wake of the summer’s power crisis and emergencymeasures, San Diego Gas and Electric can’t find any long-term powerpurchase deals to its liking, and, in fact, it has pulled back arequest-for-proposal it had outstanding, soliciting longer-term,fixed price contracts.

In an “emergency motion,” the New York Public Service Commissionhas asked FERC not to award the proposed Millennium Pipeline finalenvironmental clearance until an alternate route is found for theproject in the state.