The Western Governors’ Association (WGA) is urging Congress to move quickly on federal electricity reliability legislation, saying that such a move is needed to ensure reliability in the western interconnection. Meanwhile, Western governors last week are expected to receive a draft report that will detail where in the region it is economically feasible to build transmission lines in order to relieve congestion.
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Western Govs Urge Congress to Act on Electric Reliability
The Western Governors’ Association (WGA) is urging Congress to move quickly on federal electricity reliability legislation, saying that such a move is needed to ensure reliability in the Western interconnection. Meanwhile, Western governors this week are expected to receive a draft report that will detail where in the region it is economically feasible to build transmission lines in order to relieve congestion.
GPU Bid to Bypass PA Rate Cap Stirs Debate
A bid by GPU to raise rates by approximately $316 million in Pennsylvania is quickly turning into a larger debate over whether the utility should be allowed to avoid electricity rate caps already in place in the state. As the Pennsylvania Public Utility Commission prepares to consider GPU’s rate increase request later this week, the plan has received criticism from a number of fronts, including PUC Commissioner Nora Mead Brownell and Pennsylvania’s consumer advocate.
GPU Bid For PA Electric Rate Cap Exception Stirs Controversy
A bid by GPU to raise rates by approximately $316 million in Pennsylvania is quickly turning into a larger debate over whether the utility should be allowed to avoid electricity rate caps already in place in the state. As the Pennsylvania Public Utility Commission prepares to consider GPU’s rate increase request later this week, the plan has received criticism from a number of fronts, including PUC Commissioner Nora Mead Brownell and Pennsylvania’s consumer advocate.
Kaiser-Francis’ Canadian Gas Fields on Sale Block
In an offer expected to be quickly picked up by one of the many natural gas-thirsty majors or independents, Tulsa-based Kaiser-Francis Oil Co. put nearly one-third of its Canadian production up for sale. The gas fields in northeastern British Columbia hold an estimated 55 Bcf, worth about C$202.5 million ($131 million). The fields’ 2001 net income is expected to be C$45.3 million.
Futures Test Support Amid Storage and Weather Woes
With little or no air-conditioning related demand on the horizon and amid a quickly eroding year-on-year storage deficit, natural gas futures slumped to new 9-month lows Monday as traders pressed the market’s downside yet again. After opening lower, the June contract was hit with a steady procession of commercial and speculative selling that took the market down to a previous low at $4.10 just before the closing bell. Unable to rebound, June closed just off that level at $4.113, down 17.3 cents for the day.
Schumer Presses NYPSC for Approval of Millennium
U.S. Sen. Charles E. Schumer (D-NY) urged the New York PublicService Commission (PSC) last week to quickly approve thecompromise route for the 442-mile Millennium Pipeline, which hasbeen languishing in a regulatory quagmire since December 1997. TheFederal Energy Regulatory Commission issued a supplemental draftenvironmental impact statement last month approving the new routefor the project, which would bring 715 MMcf/d of gas to New YorkCity from connections with the Canadian pipeline grid under LakeErie.
Northern Border Banks on Midwestern Gas to ‘Really Blossom’
Northern Border Partners L.P. says it’s moving quickly to scoopup Midwestern Gas Transmission from El Paso Corp. because itbelieves the pipeline is destined to become strategically moreimportant as an outlet for western Canadian gas and eventuallyAlaskan gas, as well as a key supplier for gas-fired powergeneration plants in the Midwest.
Northern Border Expects Midwestern Gas to ‘Blossom’
Northern Border Partners L.P. is moving quickly to scoop upMidwestern Gas Transmission from El Paso Corp. because it believesthe pipeline is destined to become strategically more important asan outlet for western Canadian gas and eventually Alaskan gas, aswell as a key supplier for generation plants in the Midwest.
Most Points Dump 50 Cents; California Still the Exception
What was gained on Wednesday was quickly lost yesterday as mostcash prices tumbled about 40 to 50 cents on average following theafternoon post-storage-report dip in Nymex futures the day prior.Southern California prices lost several dollars but most borderspot quotes still came in above $30.