A new coalition is forming to establish a “Consumers Alliance for Affordable Natural Gas,” which will be pursuing both supply and demand side solutions to the problem of increasing natural gas prices, according to spokesman Rob Marvin with Ogilvy & Mather.
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Coalition Forming for Affordable Natural Gas
A new coalition is forming to establish a “Consumers Alliance for Affordable Natural Gas,” which will be pursuing both supply and demand side solutions to the problem of increasing natural gas prices, according to spokesman Rob Marvin with Ogilvy & Mather.
Project Alpha Conviction Considered Significant for Prosecutors
In a significant victory for federal prosecutors who are pursuing other high-profile fraud cases post-Enron, a Houston jury late Thursday convicted former Dynegy Inc. executive Jamie Olis, 37, on six counts of fraud.
Battle Over Future of SMD, RTOs Escalates Among State Regulators
The question over how much leeway Congress should give FERC in pursuing its standard market design (SMD) proposal for U.S. wholesale power markets and the creation of regional transmission organizations (RTOs) was answered in very different ways last week by state utility regulatory commissioners meeting with federal lawmakers.
Lawmakers Press FERC to Abandon SMD for U.S. Power Markets
Several Pacific Northwest lawmakers are urging FERC to stop pursuing its proposed standard market design (SMD) for U.S. wholesale electricity markets, saying that Congress hasn’t given the federal agency the green light to pursue such an undertaking and arguing that the proposal does not take into account the distinct nature of the Northwest’s energy grid.
S&P: Deregulation’s Goals Remain ‘Frustratingly Elusive’
The goals of deregulation within the U.S. power markets “remain frustratingly elusive,” with more states retreating from the process and regulators pursuing investigations into trading and accounting practices, said Standard & Poor’s in a report released this month. Noting that restructuring was supposed to induce more efficiencies and reduced prices, S&P said widening credit spreads and equity prices have instead sent investors “fleeing” from the sector — and the trend may continue for some time.
Japanese Interests Plan LNG Terminal in Los Angeles Harbor
Japanese interests, including giant Mitsubishi Corp., are pursuing a possible liquefied natural gas (LNG) receiving terminal in Los Angeles Harbor, which combined with neighboring Long Beach is the busiest port in the United States and the third busiest in the world. Rather than suffer through the pitfalls of their predecessors by overlooking local concerns, the Japanese are making a grass roots effort to get this project off the ground.
Puget Energy Buys NY Pipeline Construction Firm
Pursuing a strategy to expand non-utility energy infrastructure businesses alongside its core utility operations in the Pacific Northwest, Bellevue, WA-based Puget Energy announced that it has bought Skibeck Pipeline Co., which it described as a “leading East Coast provider of natural gas transmission pipeline construction.” Skibeck will retain its name and 200 employees, operating regionally out of its headquarters in Randolph, NY, under Puget’s non-utility division, InfrastruX.
Enron Looking for Collateral to Guarantee Debts, Keep Ratings
In a 10-Q filing made after the close of the stock market on Monday, Enron Corp. revealed it will have to find some collateral to guarantee some of its debts, or it could be forced to pay off a $690 million note by next week, and a total of almost $3.9 billion more if its credit ratings drop another notch.
Chevron Seeking Terminal Site
Although no conclusions or commitments have been reached,Chevron is very actively pursuing studies leading to thedevelopment of a liquefied natural gas (LNG) receiving terminal ata still undetermined spot along the California coast to regasifythe equivalent of 500 MMcf/d of LNG from the Northwest Shelf offWestern Australia (see Daily GPI, March 20). Chevron is a one-sixthowner of the huge NW Shelf LNG Project involving 15 Tcf of gas nowbeing liquefied and shipped to markets in the Far East, and atwo-seventh partner in the not-yet-producing Gorgon Projectoffshore Western Australia.