Yes Virginia, there still is an energy executive whom you can admire. Chicago-based Morningstar Inc., a worldwide investment research firm, has named Richard D. Kinder, chairman and CEO of Kinder Morgan Energy Partners LP (KMP), as one of four nominees for its CEO of the Year award for 2002. It will announce the winner live on CNBC on Jan. 3 at about 11:20 a.m. (Eastern time).
Reaches
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El Paso Electric Reaches Deal with FERC to Refund $14M
Without conceding any wrongdoing on its part, El Paso Electric Co. (EPE) has agreed to pay $14 million as part of a settlement with FERC trial staff that resolves issues arising from the agency’s investigation into the company and Enron Corp. [EL02-113-000]. The settlement was disclosed by the staff in written testimony filed Thursday.
El Paso Electric Reaches Deal with FERC to Refund $14M
Without conceding any wrongdoing on its part, El Paso Electric Co. (EPE) has agreed to pay $14 million and lose the right for market-based trading for two years as part of a settlement with FERC trial staff that resolves issues arising from the agency’s investigation into the company and Enron Corp. [EL02-113-000]. The settlement was disclosed by the staff in written testimony filed Thursday.
Questar Reaches Agreement to Unload Stake in TransColorado Pipe
Questar Corp. reported last week that it has entered into an agreement to sell its interests in the TransColorado Pipeline to Kinder Morgan Inc. (KMI) and affiliates for $105.5 million. The agreement, which was effective Oct. 1, is subject to review under the Hart-Rodino-Scott Antitrust Improvement Act of 1976.
Questar Finally Reaches Agreement to Unload Stake in TransColorado Pipe
Questar Corp. reported Monday that it has entered into an agreement to sell its interests in the TransColorado Pipeline to Kinder Morgan Inc. (KMI) and affiliates for $105.5 million. The agreement, which was effective Oct. 1, is subject to review under the Hart-Rodino-Scott Antitrust Improvement Act of 1976.
AGLC Reaches Deal with GPSC; Will share Excess Profits
Putting to rest a Georgia Public Service Commission (GPSC) complaint from August 2001, Atlanta Gas Light Co. said last week that it reached an agreement with the GPSC regarding its commission-imposed earnings review. Under the agreement, AGLC adopted a three-year performance-based rate plan that will reduce the base rates of its customers by $10 million annually. The company also reported its first quarter 2002 earnings, which showed a small decline from the similar quarter a year ago.
Avista Reaches Deal on Western Power Crisis Costs, Awaits WUTC Approval
Avista Corp. said last week that it has reached a settlement agreement with the staff of the Washington Utilities and Transportation Commission (WUTC), the Public Counsel Section of the Washington attorney general’s Office and the Industrial Customers of Northwest Utilities on payment of excess power costs stemming from the western power crisis and covering a period from mid-2000 until the end of 2001.
Storage Reaches 81% Full with 95 Bcf Injection
The American Gas Association reported a 95 Bcf injection into the nation’s natural gas storage facilities last week, which compares to a 72 Bcf injection during the same week a year ago. The injection came in slightly above consensus estimates around 85 Bcf and should be a bit of a reality check for traders caught up in the hype surrounding the impact the terrorist attacks might have on international crude supplies. However, the New York Mercantile Exchange remains closed and there was still no word yesterday evening on whether the exchange would attempt to open its doors on Thursday (see related story).
MI Reaches Major Gas Settlement with Consumers Energy
Michigan Attorney General Jennifer M. Granholm announced last week that her office reached a major settlement with Consumers Energy Co. (CECo) that is expected to save the company’s natural gas customers $190 million over the next nine months.
MI Reaches Major Gas Settlement with Consumers Energy
Michigan Attorney General Jennifer M. Granholm announced Monday that her office reached a settlement with Consumers Energy Co. (CECo) that will save the company’s natural gas customers $190 million over the next nine months.