Rolls

Between 2000 and 2004, a total of 145,417 MW of nonutilitygeneration is expected to be added to the U.S. power grid and 83%of that total will be gas-fired power generation, according to anew survey by the Energy Information Administration.

Between 2000 and 2004, a total of 145,417 MW of nonutilitygeneration is expected to be added to the U.S. power grid and 83%of that total will be gas-fired power generation, according to anew survey by the Energy Information Administration.

The Public Service Commission of West Virginia (PSC) gave itsblessing yesterday to the proposed purchase of UtiliCorp United’s WestVirginia Power division by Allegheny Power, the energy deliverycompany of Allegheny Energy Inc. The $75 million purchase wasannounced last September (see Daily GPI, Sept. 10).Before completion, the Security and ExchangeCommission still must give its approval. Allegheny expects this to bedone later this month. The purchase has already received the go-aheadfrom the Federal Energy Regulatory Commission and the Federal TradeCommission.

Merger week in the energy industry continued yesterday with twomore convergence combinations in New England. The larger of the twoinvolved Energy East, the parent company of Upstate New York’scombination utility New York State Electric & Gas, buying CMPGroup, parent of Maine’s largest electric utility, Central MainePower, for $1.2 billion in cash and debt. The other transaction wasa $679 million purchase, including assumption of $201 million indebt, of Yankee Energy by its former parent company NortheastUtilities.

The October contract began its reign as the prompt month byfollowing in the footsteps of the freshly expired Septembercontract, and in doing so, added to the declines that have markedthe futures market since the downtrend began on April 8th. Thatleft October down 5.2 cents to $1.664 on Friday, capping a 31.7cent decline for the week.