Reflecting

Pacific Gas & Electric did not extend a systemwide high-inventory OFO beyond Saturday.

Reflecting the continuing race in California to stay out front on energy efficiency through massive ratepayer-funded programs, Sempra Energy’s Southern California Gas Co. Tuesday announced it has recently signed contracts totaling $26 million with outside providers to expand residential and small business energy efficiency programs through 2008.

Reflecting the continuing race in California to stay out front on energy efficiency through massive ratepayer-funded programs, Sempra Energy’s Southern California Gas Co. Tuesday announced it has recently signed contracts totaling $26 million with outside providers to expand residential and small business energy efficiency programs through 2008.

Vectren Corp.’s second quarter net income dropped 68% to $4.3 million, or $0.06 per share, compared to $13.4 million, or $0.18 per share, reflecting the company’s decision to exit the synthetic fuels production business and the continuing challenge of declining gas demand due to high gas prices.

Reflecting its strong business ties to Mexico, San Diego-based Sempra Energy Friday named Luis Tellez, a business and high-ranking national government leader in Mexico City, to its board of directors, expanding the board’s number to 11 directors. Tellez, 47, is managing director of the Carlyle Group private investment firm’s Mexico City office. Prior to joining Carlyle, Tellez was an executive vice president with one of Mexico’s largest companies, DESC, SA de CV, and held several senior positions in the Mexican federal government. Tellez served as Mexico’s Secretary of Energy from 1997 to 2000, during which he led the restructuring of the Mexican electricity industry. It was Tellez’s efforts that opened up more opportunities for private investment in Mexico’s power industry, something that Sempra and other U.S.-based companies rushed to take advantage of. Tellez also served as chief of staff to former Mexican President Ernesto Zedillo. With a bachelor’s degree from the Instituto Tecnologico Autonomo de Mexico, and an economics doctorate from Massachusetts Institute of Technology, Tellez has gained past interest in U.S. news media as a rising leader in Mexico.

Reflecting higher wholesale costs for fuel over the past 12 months and estimates of what the future holds, Sierra Pacific Power Co. Monday made its annual mandatory natural gas deferred-energy filing with the Nevada Public Utilities Commission, seeking a 10% boost in retail gas rates, effective Dec. 1. The Sierra Pacific Resources’ Reno-based utility said the filing reflects the “continuing high energy costs around the country.”

Moody’s Investors Service last week placed El Paso Corp. and its subsidiaries under review for a possible upgrade, reflecting the possibility the Houston-based company will reduce more of its debt in the near future than previously expected and because there are “signs of recovery” within its revamped exploration and production operations.

Moody’s Investors Service on Wednesday placed El Paso Corp. and its subsidiaries under review for a possible upgrade, reflecting the possibility it will reduce more of its debt in the near future than previously expected and because there are “signs of recovery” in its exploration and production operations.

Reflecting full ownership of its downstream and growth in upstream income, Marathon Oil Corp.’s 4Q2005 profit soared, with net income reaching $1.27 billion ($3.43/share), compared with $429 million, ($1.23) a year ago. Revenue was up 21% to $17.3 billion from $14.3 billion. U.S. natural gas sales grew in the quarter, but they were down overall for the year.