Regulatory

Under mounting pressure from Capitol Hill, the Federal Energy Regulatory Commission has kicked off an investigation into whether the once-powerful Enron Corp. manipulated long-term electricity prices during the energy crisis that rocked California last year. If manipulation is found, FERC Chairman Pat Wood earlier this week said federal regulators or the courts could void some of the long-term forward contracts that the state signed.

The Federal Energy Regulatory Commission issued a formal order Wednesday initiating a fact-finding investigation into possible manipulation of short-term prices for natural gas and electricity in West Coast markets. The agency’s action was sparked by the Enron Corp. financial debacle, Chairman Pat Wood said, and was a follow-up to his pledge before a congressional committee two weeks ago (see Daily GPI, Feb. 4).

The Federal Energy Regulatory Commission (FERC) on Wednesday approved two significant energy mergers, Reliant Resources Inc.’s $2.9 billion acquisition of Orion Power Holdings Inc. and Northwest Natural Gas Co.’s $1.8 billion acquisition of Portland General Electric Co., the Oregon utility owned by bankrupt Enron Corp.

The Federal Energy Regulatory Commission said last Thursday that a final decision on whether to revoke a certificate allowing Williams to reactivate and expand its Cove Point liquefied natural gas (LNG) terminal plant in Maryland won’t be made until late January.

Maritimes & Northeast Pipeline LLC. said Monday that it has submitted an application to the Federal Energy Regulatory Commission (FERC) to further expand its natural gas pipeline system. Designated as the Phase IV project, the $250 million expansion will allow Maritimes to nearly double its capacity to transport natural gas from offshore Nova Scotia to markets in the northeastern United States.

Dynegy Inc. has named Marian Davenport senior vice president of legislative and regulatory affairs, reporting to Kenneth Randolph, executive vice president and general counsel. Davenport has had various executive positions with Dynegy since it acquired Destec Energy in 1997, where she was director of project development.

The Federal Energy Regulatory Commission cut a break last week to transporters and sellers of natural gas to the California market. It voted not to extend an initiative that requires them to report extensive information on their sales’ prices and volumes on a monthly basis.

The Federal Energy Regulatory Commission last Wednesday okayed a certificate for Tuscarora Gas Transmission’s Wadsworth Lateral, a 14.2-mile pipeline extension and associated facilities that would increase Tuscarora’s transportation capacity by 95,912 Dth/d. The lateral would extend from Tuscarora’s mainline in northern Washoe County, NV, to an interconnect with Paiute Pipeline in Nevada.

The Federal Energy Regulatory Commission cut transporters and sellers of natural gas to the California market a major break Wednesday when it voted not to extend an initiative that requires them to report extensive information on their sales’ prices and volumes on a monthly basis.