Recognize

The Senate Finance Committee Thursday unveiled an $85 billion draft jobs package that calls for the extension of a number of energy tax breaks that expired at the end of 2009.

FERC last Thursday issued an advanced notice of proposed rulemaking (ANOPR) that seeks to make several reforms to improve the operations of the organized wholesale power markets, as well as requests public comment on the proposals.

Dallas-based Pioneer Natural Resources Co. said Wednesday that it expects to recognize an aftertax gain of $75-80 million on the sale of its three Canadian oil and natural gas properties to Ketch Resources Ltd.

Natural gas demand in New England, particularly for power generation, has grown rapidly over the last decade, and the addition of a liquefied natural gas (LNG) import terminal would provide the greatest enhancement to gas supply reserve margins in the region, according to a new report by the Power Planning Committee of the New England Governors’ Conference.

Natural gas demand in New England, particularly for power generation, has grown rapidly over the last decade, and the addition of a liquefied natural gas (LNG) import terminal would provide the greatest enhancement to gas supply reserve margins in the region, according to a new report by the Power Planning Committee of the New England Governors’ Conference.

FERC recently issued an order conditionally accepting an offer of settlement previously filed by Oklahoma Gas & Electric Co. (OG&E), clearing the way for the utility to move forward with its efforts to buy a majority stake in an Oklahoma power plant from NRG McClain.

FERC is not doing its job if it hides behind the letter of thelaw and refuses to recognize abuses of market power merely becausethe abusers are staying within the bounds of maximum lawful rates.That was the decision on April 9 of the D.C. Court of Appeals,which found an order by the Federal Energy Regulatory Commission ina case involving rates charged by Southern California Gas”arbitrary and capricious.” (Southern California Edison v. FERC,No. 97-1699). Now Exxon Co. U.S.A. has asked FERC to reopen a caseinvolving Dynegy’s long-term leasing of unsubscribed capacity on ElPaso Natural Gas (RP97-287-010), saying the two cases are directlyrelated.

It took FERC only a few days to recognize that ANR Pipeline’sMarch 8 application for a second Wisconsin expansion project in 18months fails to meet the Commission’s test for showing market need.

It took FERC only a few days to recognize that ANR PipelineCo.’s March 8 application for a second Wisconsin expansion projectin 18 months fails to meet the Commission’s test for showing marketneed.