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.
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AEP Restructures to Build Wholesale Business
Saying that “corporate separation is our highest priority,”American Electric Power’s CEO E. Linn Draper announced last weekthat the company is undergoing a restructuring, and will place morefocus on its U.S. wholesale power generation, marketing and tradingbusinesses. It also will scrap previously announced plans to expandits overseas markets.
November 6, 2000
Sabine Sells Pipe Assets, Restructures Business
Sabine Pipe Line Co. last week got the go-ahead from FERC tosell a small segment of its pipeline system in Texas and Louisianaas part of its effort to restructure its business into a limitedliability company.
February 28, 2000
PG&E Restructures Operations, Reduces Staff
PG&E Corp. is consolidating overall management of its PacificNorthwest and Texas natural gas operations to gain someefficiencies and prepare for expanding into unspecified marketsthroughout North America. A total of about 100 positions, less than10% of the 1,000-person work force, will be eliminated from PG&EGas Transmission (PG&E GT)-spread equally among the Texas andPortland, OR, operations.
March 8, 1999
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