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Greenburg, PA-based Allegheny Energy Inc. announced that it has reached an agreement with a coalition of interested parties regarding an increase in natural gas base rates, clearing the way for the sale of its West Virginia gas business.

Adding to the growing Western paranoia regarding China’s bold energy plays internationally, the northern Alberta, Canada oil sand deposits are now receiving hundreds of millions of dollars for development from the Chinese government, according to a report in Monday’s Los Angeles Times, citing growing concerns in the Bush Administration, which is monitoring the situation closely.

Enron Corp. agreed late Monday to a $356.25 million payment to settle litigation against the company regarding its bankrupt retirement plans that were brought by the Department of Labor (DOL) and former and current employees.

Zeroing in on a portion of the state that may be the most problematic regarding peak-demand electricity supplies this summer, the California Independent System Operator (CAISO) and San Diego Gas and Electric Co. last week urged more conservation in San Diego County this summer as an added precaution against supplies getting tight during periods of high peak demand.

Marathon Oil Corp. issued a statement on Friday to clarify comments made by CEO Clarence P. Cazalot last week regarding its position on whether it is soliciting or is interested in offers to purchase the company. At a media roundtable on April 7 with 11 journalists Cazalot was asked whether the company was a takeover target. His response was that Marathon is “for sale every day on the New York Stock Exchange. To the extent that someone wants to offer a premium, the board would consider it.” Some news reports following the roundtable indicated the company was actively soliciting offers. “Marathon remains convinced that its strategy to remain a fully-integrated company presents the greatest value to its shareholders,” the company said in its statement.

In light of the continuing flow of information regarding alleged past energy market manipulation by Enron and other companies, U.S. Sens. Dianne Feinstein (D-CA), Maria Cantwell (D-WA), Ron Wyden (D-OR), and Tom Harkin (D-IA) have introduced legislation that would increase penalties for natural gas and power market manipulation, improve price transparency and give regulators new tools to oversee energy markets.

In light of the continuing flow of information regarding past energy market manipulation by Enron and other companies, U.S. Sens. Dianne Feinstein (D-CA), Maria Cantwell (D-WA), Ron Wyden (D-OR), and Tom Harkin (D-IA) have introduced legislation that would increase penalties for natural gas and power market manipulation, improve price transparency and give regulators new tools to oversee energy markets.

Municipal utility company Philadelphia Gas Works (PGW) has issued a request for proposals (RFP) from energy companies regarding plans to convert its existing Richmond Plant LNG peak shaving facility, the largest facility of its kind in the nation in terms of storage and vaporization capacity, into a full-time import terminal on the Delaware River.

American Electric Power (AEP) reported Monday that two separate shareholder derivative cases against the company and individual members of its board of directors were dismissed Nov. 5. The cases charged that the defendants failed to maintain adequate internal controls over their natural gas trading operations.