Ruled

Allegheny Energy shares were down more than 3% to $21.94 by 2:30 p.m. EDT Wednesday after a judge ruled that the company will have to pay $115 million plus interest to buy Merrill Lynch and Co.’s 2% equity stake in Allegheny Energy Supply Co., the generation and marketing unit that Allegheny bought from Merrill Lynch in 2001.

Agrium Inc., one of the largest manufacturers in Alaska, has successfully negotiated a new natural gas supply contract with Cook Inlet producers to allow its Kenai, AK-based fertilizer plant to continue to operate until at least November 2006. Agrium’s continued operations are seen as one of the keys to progress on the long proposed North Slope gas pipeline.

A federal appeals court in Washington, DC last Tuesday ruled that FERC acted correctly when it rejected a rate settlement that was supported by the majority of Equitrans LP’s shippers in favor of a preexisting settlement that was backed by non-shipper producers.

A federal appeals court in Washington, DC on Tuesday ruled that FERC acted correctly when it rejected a rate settlement that was supported by the majority of Equitrans LP’s shippers in favor of a prior settlement that was backed by non-shipper producers.

The Utah Public Service Commission (PSC) last week ruled that Questar Gas cannot recover through customer rates the $28 million the utility spent to process natural gas over a four-year period.

The Utah Public Service Commission (PSC) on Monday ruled that Questar Gas cannot recover through customer rates the $28 million the utility spent to process natural gas over a four-year period.

In a unanimous 5-0 decision Thursday, the Supreme Court of Canada ruled that oil and gas producers may keep the natural gas that they extract from their leases located along the Canadian Pacific Railway (CPR). Landowners for many years had argued that they were entitled to the gas. As a result, the ruling relieves a major legal headache for producers.

In a unanimous 5-0 decision Thursday, the Supreme Court of Canada ruled that oil and gas producers may keep the natural gas that they extract from their leases located along the Canadian Pacific Railway (CPR). Landowners for many years had argued that they were entitled to the gas. As a result, the ruling relieves a major legal headache for producers.

A federal judge has ruled that only the shareholders who owned shares in Northeast Utilities (NU) on March 5, 2001 — the date of a failed $3.8 billion merger with Con Edison (excluding assumption of $3.9 billion in NU debt) — are entitled to claim a lost $1 billion merger premium. NU had argued that the right to recover the merger premium was built into NU’s shares and was transferred by sellers to subsequent purchasers of the shares.