Boston-based NSTAR, Massachusetts’ largest combined utility, has asked state regulators to reduce its gas adjustment cost by 17% to 43.5 cents/therm effective Jan. 1, 2002. If approved, NSTAR’s gas adjustment cost will have dropped by 67.5 cents/therm for the year or by more than 60%.
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ChevronTexaco Raises Work Force Cuts to 4,500
In an effort to reach higher post merger goals, ChevronTexaco now estimates it will reduce its work force by 4,500 rather than the 4,000 announced last month. The move is part of a program designed to produce savings of $1.8 billion by March 2003 ($1.2 billion of it in six to nine months) and a 2-3% increase in return on capital employed in 2003-2004. The company also said it is expecting long-term production growth of 2.5-3% over the next five years.
ChevronTexaco Raises Work Force Cuts to 4,500
In an effort to reach higher post merger goals, ChevronTexaco now estimates it will reduce its work force by 4,500 rather than 4,000 announced last month. The move is part of a program designed to produce savings of $1.8 billion by March 2003 ($1.2 billion of it in six to nine months) and a 2-3% increase in return on capital employed in 2003-2004. The company also said it is expecting long-term production growth of 2.5-3% over the next five years.
Con Ed Seeks to Prevent Abuses Up Front
Consolidated Edison called on FERC yesterday to protect itscustomers this summer by instituting mechanisms to reduce potentialprice spikes in the New York wholesale power market.
TransCanada Cuts Capacity, Scraps Compressors
TransCanada PipeLines plans to remove 12 older compressors fromservice in an effort to lower maintenance costs and reduce theamount of excess pipeline capacity on its system following thestart-up of the 1.325 Bcf/d Alliance Pipeline on Dec. 1.
TransCanada Cuts Capacity, Scraps 12 Compressors
TransCanada PipeLines plans to remove 12 older compressors fromservice in an effort to lower maintenance costs and reduce theamount of excess pipeline capacity on its system following thestart-up of the 1.325 Bcf/d Alliance Pipeline on Dec. 1.
Transportation Notes
Williams declared force majeure Tuesday following a compressorunit failure at Ogallah (KS) Station, saying it had to reduce LineSegment 490 capacity by about 10,000 Dth/d. It anticipated repairswould take three to four days.
Design Changes OK’d for New England Power Market
FERC last week conditionally approved a significant re-design ofthe New England bulk power market in an attempt to reduce the pricevolatility stemming from congestion of the region’s transmissionsystem. But it could be as long as two years before the regionalmarket feels the benefits of the changes.
Design Changes OK’d for New England Power Market
FERC yesterday conditionally approved a significant re-design ofthe New England bulk electricity market in an attempt to reduce theprice volatility stemming from generation shortages and congestedtransmission systems. But it could be as much as two years beforethe regional market feels the effects of the changes.
Industry Briefs
Commonwealth Edison announced a voluntary pilot program thatwill automatically pay its customers if it fails to live up to itscommitment to reduce electric service interruptions, provide fasterservice restoration when outages do occur and deliver bettercommunication with customers and governmental bodies aboutservice-related issues. Developed in partnership with theMetropolitan Mayors Caucus and the City of Chicago, ComEd said itpledges to automatically pay business and residential customerswhose service has been interrupted as a result ofutility-controlled circumstances. Under the plan, qualifyingresidential and business customers will receive about the averageof one month’s electric service for each outage that exceeds eighthours or if they experience three or more outages, each of four ormore hours in length, during a two-month period. Business customerswould receive $100 credit on their account balance, whileresidential customers would receive a check for $60 for eachqualified outage. In addition, customers whose service isinterrupted for 12 hours or longer will automatically receive fullcredit of their monthly customer charge. Subsequent 12-hour outageswill result in an additional monthly credit for every outageincident. Payments will automatically be disbursed within 30 days,and do not require an additional call from the customer.