FERC last week denied a complaint in which several Nevadaindustrial shippers sought exemption from continual must-flowoperational flow orders (OFOs) on Northwest Pipeline’s system, andto be reimbursed for the costs of complying with those OFOs. Butthe Commission did hold out some hope for the shippers, saying itwould consider proposals to provide future relief from thepipeline’s constant OFOs.
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FERC Rejects OFO Complaint Against Northwest
FERC yesterday denied a complaint in which several Nevadaindustrial shippers sought exemption from continual must-flowoperation flow orders (OFOs) on Northwest Pipeline’s system, and tobe reimbursed for the costs of complying with the OFOs. But theCommission did hold out some hope for the shippers, saying it wouldconsider proposals to provide relief from the pipeline’s constantOFOs.
Berkley Rejects Hunt Offer, Breakup Possible
Calgary-based Berkley Petroleum Corp. unanimously rejected the takeover bid last week by a Hunt Oil Co. subsidiary, which offered to purchase all of the common shares of the company for $10 per share. Analysts were meanwhile speculating that without a white knight, Berkley might be worth more if it’s broken up and sold.
CA-ISO Rejects Further Cap Cuts
With growing concerns about the fragility of California’selectricity market under summer peak demand stresses, theCalifornia Independent System Operator (Cal-ISO) Board of GovernorsThursday laid out an aggressive agenda to transform the state’spower market into a “workably competitive” model while narrowlydrawing short of further tightening of price caps. It was thesecond time in a week the Cal-ISO board wrestled with the price capissue.
CA-ISO Rejects Further Cap Cuts, Launches New Power Market Plan
With growing concerns about the fragility of California’selectricity market under summer peak demand stresses, theCalifornia Independent System Operator (Cal-ISO) Board of GovernorsThursday laid out an aggressive agenda to transform the state’spower market into a “workably competitive” model while narrowlyrejecting further reduction in price caps. It was the second timein a week the Cal-ISO board wrestled with the price cap issue.
High Court Rejects Kansas Tax Case
The Supreme Court last week refused to review a case in whichKansas gas producers could wind up paying millions of dollars incustomer refunds for selling gas in the 1980s at prices that,because they incorporated the state’s ad valorem tax, may have beenabove the allowed legal limit.
High Court Rejects Kansas Tax Case
The Supreme Court earlier this week refused to review a case inwhich Kansas gas producers could wind up paying millions of dollarsin customer refunds for selling gas in the 1980s at prices that,because they incorporated the state’s ad valorem tax, may have beenabove the allowed legal limit.
CPUC Rejects Western’s Pipeline Plan
On a 3-2 split vote, California regulators last week dismissed aproposal for allowing gas distribution competition in anindustrialized part of the East San Francisco Bay. The majority,led by the current president of the California Public UtilitiesCommission, rejected an alternative proposal by two members of thefive-member CPUC.
CPUC Rejects Western’s Pipeline Plan
California regulators last week on a 3-2 split vote dismissed aproposal for allowing natural gas distribution competition in anindustrialized part of the East San Francisco Bay. The majority,led by the current president of the California Public UtilitiesCommission, rejected an alternative proposal by two members of thefive-member CPUC.
Columbia Rejects NiSource Again, Ponders Options
In rejecting NiSource’s revised tender offer of $6.1 billion ($74/share) last week, Columbia Energy Group’s board announced that it authorized management to begin considering all options, including a sale of all or part of the company to a third party, possibly even NiSource.