Responding

Responding to investor concerns related to California’s energycrisis, Tulsa-based Williams Cos. said Tuesday that its fourthquarter earnings will be well above expected earnings estimates.Shares of the company had dropped to a 52-week low last week afternews surfaced that California’s utilities — one of Williams’largest markets — might not be able to pay their power bills.

Responding to tight energy supplies in the Pacific Northwest and California, PG&E Corp.’s National Energy Group revealed plans last week to begin an open season early next year, kicking off a five-year expansion effort. The first phase would add 200 MMcf/d of firm transportation capacity out of western Canada on its Gas Transmission-Northwest (GTN) pipeline system. The PG&E GTN group expects the phase one expansion to be in service by November 2002 at the latest.

Responding to tight energy supplies in the Pacific Northwest andCalifornia, PG&E Corp.’s National Energy Group revealed plansWednesday to begin an open season early next year, kicking off afive-year expansion effort. The first phase would add 200 MMcf/d offirm transportation capacity out of western Canada on its GasTransmission-Northwest (GTN) pipeline system. The PG&E GTNgroup expects the phase one expansion to be in service by November2002 at the latest.

Responding to a California power market gone haywire and teetering on the brink of operational and financial disaster, FERC Friday issued a series of remedial measures, virtually stripping the Cal-PX and Cal-ISO of their control of the market and calling market stakeholders together to negotiate bilateral forward contracts.

Responding to a California power market gone haywire andteetering on the brink of operational and financial disaster, FERCFriday issued a series of remedial measures, virtually strippingthe Cal-PX and Cal-ISO of their control of the market and callingmarket stakeholders together to negotiate bilateral forwardcontracts.

Responding to persistent rumors over the Thanksgiving weekend ofa possible profit warning, Enron COO Jeffrey Skilling has deniedproblems with earnings for any of the myriad energy andcommunications businesses for North America’s largest buyer andseller of natural gas and electricity. Enron’s stock did fall lastweek, however, as did other energy stocks.

Responding to persistent rumors over the Thanksgiving weekend ofa possible profit warning, Enron COO Jeff Skilling last week deniedproblems with earnings for any of the myriad energy andcommunications businesses for North America’s largest buyer andseller of natural gas and electricity.

Responding to state regulators, California’s two largestelectric utilities in separate filings last week proposed that thestate end the four-year-old rate freeze and permit them to buy moresupplies outside of the state-chartered wholesale spot power marketas a means of bringing down excessively high wholesale prices. Partof the means of bringing stability would include rate increases forthe utilities and price caps for merchant generators and marketersselling electricity in California.

Responding to state regulators, California’s two largestelectric utilities in separate filings last week proposed that thestate end the four-year-old rate freeze and permit them to buy moresupplies outside of the state-chartered wholesale spot power marketas a means of bringing down excessively high wholesale prices. Partof the means of bringing stability would include rate increases forthe utilities and price caps for merchant generators and marketersselling electricity in California.