FPL Group Inc. announced that Lewis Hay III has been elected president, CEO and a director of the $7 billion electricity-related services company. He succeeds James L. Broadhead, who will remain as chairman through the end of the year. Since March 2000, Hay had been serving as president of FPL Energy, the company’s independent power production company and its fastest growing business. He joined FPL Group in August 1999 as CFO. Hay will continue to serve as president of FPL Energy until a replacement is named, the company said.
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FERC To Convene RTO Conference In Near Future
The Federal Energy Regulatory Commission will convene a conference in the near future examining issues that have cropped up related to regional transmission organizations (RTOs), Curt Hebert, the Commission’s chairman, said yesterday. Although specifics on the conference remain somewhat sketchy, it appears that the issue of seams in the broader context of RTO formation will be a key topic of discussion at the gathering.
Futures Test Support Amid Storage and Weather Woes
With little or no air-conditioning related demand on the horizon and amid a quickly eroding year-on-year storage deficit, natural gas futures slumped to new 9-month lows Monday as traders pressed the market’s downside yet again. After opening lower, the June contract was hit with a steady procession of commercial and speculative selling that took the market down to a previous low at $4.10 just before the closing bell. Unable to rebound, June closed just off that level at $4.113, down 17.3 cents for the day.
CA Bills Seek to Boost Gas Supply, Cut Prices
Acknowledging that federal regulators hold most of the trump cards related to lowering natural gas costs, the California legislature nevertheless has produced four bills aimed indirectly at cutting consumer costs by developing more underground storage (AB 78X), producing more in-state gas supplies (AB 73X), eliminating anti-competitive tariffs (AB 23X), and shortening new pipeline permitting processes (AB 42X).
CA Bill Would Augment Gas Supplies
Acknowledging that federal regulators hold most of the trump cards related to lowering natural gas costs, the California legislature nevertheless has produced four bills aimed indirectly at cutting consumer costs by developing more underground storage (AB 78X); producing more in-state gas supplies (AB 73X); eliminating anti-competitive tariffs (AB 23X); and shortening new pipeline permitting processes (AB 42X).
New Publication Says CA Woes Not Slowing Retail Competition
California’s well documented difficulties related to electric restructuring and a sluggish response from consumers to retail electric competition in key parts of the country have not deterred most U.S. electric utilities from continuing to pursue competitive retail plans. The situation has not kept several states from moving forward with restructuring efforts, according to an industry analysis by Chartwell in its new publication, Competition in the Energy Industry, 2001, which was unveiled last week.
FERC Accepts Framework Of RTO West, Related ITC
FERC last Wednesday accepted parts of a proposal to form RTO West — a hybrid regional transmission organization (RTO) and transco structure for the Pacific Northwest region — as the first step in its plan to create a much larger western-wide RTO in the future. It marked the fifth RTO that the Commission has approved.
FERC Accepts Framework Of RTO West, Related ITC
FERC late Wednesday accepted parts of a proposal to form RTO West — a hybrid regional transmission organization (RTO) and transco structure for the Pacific Northwest region — as the first step in its plan to create a much larger western-wide RTO in the future. It marked the fifth RTO that the Commission has approved.
Publication Says CA Woes Not Slowing Competition
California’s well documented difficulties related to electric restructuring and a sluggish response from consumers to retail electric competition in key parts of the country have not deterred most U.S. electric utilities from continuing to pursue competitive retail plans. Nor has it kept several states from moving forward with restructuring efforts, according to an industry analysis by Chartwell included in its new publication, Competition in the Energy Industry, 2001.
Transportation Notes
CIG said the Strained Operating Condition it had declared for the gas days of Wednesday and Thursday, which was caused by power outages related to blizzard conditions, was lifted Thursday.