Raises

In a move that could have far-reaching legal repercussions for pipelines, producers and other companies operating on Indian lands, two affiliated Montana Indian tribes have brought a civil lawsuit in a tribal court seeking to collect more than $3 million in back taxes from Northern Border Pipeline.

Xcel Energy reported yesterday that it is expecting sizeable earnings growth through the next two years while realizing increased savings from the merger that formed the company in August 2000, when Minneapolis-based Northern States Power and Denver-based New Century Energies merged (see Daily GPI, Aug. 18, 2000). Xcel Energy CEO Wayne Brunetti reiterated previous statements that the company is growing rapidly due in part to the independent electricity generating company, NRG Energy, in which Xcel holds nearly a 75% stake.

Two certainties prevailed in California’s blighted energy landscape Thursday: wholesale power bills are getting bigger and state regulators are trying harder to salvage Gov. Gray Davis’ deal with Southern California Edison Co. But in the state legislature from which the ultimate solutions must come there was growing skepticism, despite a series of meetings with the governor earlier in the week.

With the company’s NRG Energy independent power producer unit leading the way, Xcel Energy Inc. is raising its earnings estimates for this year to $2.30 per share, up from previous estimates of $2.20 per share. Meanwhile, executives at the company last Tuesday sought to allay any possible concerns about Xcel’s supply position heading into the summer months.

With the company’s NRG Energy independent power producer unit leading the way, Xcel Energy Inc. is raising its earnings estimates for this year to $2.30 per share, up from previous estimates of $2.20 per share. Meanwhile, executives at the company Tuesday sought to allay any possible concerns about Xcel’s supply position heading into the summer months.

Due to cold weather and falling U.S. production, it is likelythat the oil and gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released last week. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.

The Energy Information Administration (EIA) again raised itswholesale and retail gas price projections for the winter andconfirmed that gas storage levels at the end of December were lowerby 10% than the previous record low set in 1976.

Due to cold weather and falling U.S. production, it is likelythat the oil & gas industry will not be able to refill naturalgas storage for the winter of 2001-2002, according to a LehmanBrothers exploration and production update released yesterday. Thelow storage levels will likely force gas prices higher for aprolonged period of time, the report stated.

The Energy Information Administration (EIA) again raised itswholesale and retail gas price projections for the winter andconfirmed that gas storage levels at the end of December were lowerby 10% than the previous record low set in 1976.