Receiving

Unlike their neighbors in regulated states, consumers are paying higher prices and receiving less service in electricity-restructured states, according to a report released Thursday by the Consumer Federation of America (CFA). The non-profit CFA, composed of 285 pro-consumer groups, reported that “policymakers now face the prospect that the costs of ensuring retail competition in electricity markets will greatly exceed any efficiency gains, so electricity prices will rise, not decline.”

Days after receiving preliminary authorization from FERC for a $134 million, 24-mile Boston extension project (see NGI, April 16), Maritimes & Northeast is petitioning FERC for authorization to operate additional compression units at its existing compressor stations in Richmond and Baileyville, ME. The new compression will bring the pipeline’s capacity to 440,000 Dth/d from the current 400,000 Dth/d.

Days after receiving preliminary authorization from FERC for a $134 million, 24-mile Boston extension project (see Daily GPI, April 16), Maritimes & Northeast is petitioning FERC for authorization to operate additional compression units at its existing compressor stations in Richmond and Baileyville, ME. The new compression will bring the pipeline’s capacity to 440,000 Dth/d from the current 400,000 Dth/d.

DTE Energy and MCN Energy Group got one step closer to their merger after receiving approval from the Federal Trade Commission last week. The merger was first announced in October 1999 (see NGI, Oct. 11, 1999), and when finally completed as expected this summer, it would combine DTE’s Detroit Edison, Michigan’s largest electric utility, with MCN’s Michigan Consolidated Gas Co.

Just a week after receiving its final Federal Energy RegulatoryCommission certificate to proceed (see Daily GPI, Feb. 22),Gulfstream Natural Gas System LLC has an agreement with FloridaPower Corp. to provide firm natural gas transportation service tosome of its electric generating plants, including the Hines EnergyComplex in Polk County.

Nova Chemicals completed the sale of its 26% stake (38.8 millionshares) in Dynegy Corp. last week receiving total after-tax cashproceeds of $605 million, which is about $140 million more than wasexpected when the sale was first announced in August of 1998. Itsold its stake to the public in three packages over the past fivemonths.

Nova Chemicals said yesterday it has completed the sale of its26% stake (38.8 million shares) in Dynegy Corp. receiving totalafter-tax cash proceeds of $605 million, which is about $140million more than was expected when the sale was first announced inAugust of 1998. It sold its stake to the public in three packagesover the past five months.

A week after receiving Federal Energy Regulatory Commission(FERC) approval of the first phase of its Wisconsin 2000 ExpansionProject, Coastal’s ANR Pipeline announced plans to continueexpanding its pipeline given sufficient market demand.

Northwest reported that since mid-January it has been receiving”unprecedented levels” of liquid hydrocarbons from QuestarPipeline’s Clay Basin storage facility, “culminating in a criticalhigh of 21,000 gallons on Feb. 5.” Northwest has collected thecondensate at its Green River (WY) Compressor Station, but thefilter-separator system there was designed to collect only minimalamounts. Since last Monday, Northwest said, it has physicallytaken approximately 100,000 Dth/d from Clay Basin and was making upthe shortfall by withdrawing gas from Jackson Prairie. Northwestassured shippers it is working with Questar to keep Clay Basinnominations whole, but cautioned that at some point it may berequired “by prudent operations” to refuse gas nominated from ClayBasin.Northwest will provide 24 hours’ notice in such an event,but said Friday there would be no refusals over the weekend.Shippers can help ease the situation by voluntarily reducing ClayBasin nominations to whatever extent possible, Northwest said.