Saying

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.

Saying that the merger was in the best interest of the public, theOregon Public Utility Commission yesterday approved Sierra PacificResources’ application to acquire Portland General Electric(PGE). Sierra Pacific last year announced it would acquire PGE, awholly owned subsidiary of Enron Corp. for $2.1 billion, excludingdebt (see Daily GPI, Nov. 9, 1999).

Saying that “corporate separation is our highest priority,”American Electric Power’s CEO E. Linn Draper announced this 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.

Williams declared force majeure Tuesday following a compressorunit failure at Ogallah (KS) Station, saying it had to reduce LineSegment 490 capacity by about 10,000 Dth/d. It anticipated repairswould take three to four days.

Saying linepack was stabilized, El Paso canceled Thursday anUnauthorized Overpull Penalty situation that had been implementedTuesday.

TECO Energy raised its earnings forecast for this year and next,saying its core businesses are expected to post 10% growth, leadingto a 2000 upside for the company at 10 to 15 cents per share.

Saying linepack had stabilized, El Paso suspended Wednesday anUnauthorized Overpull Penalty alert that had been implementedSunday (see Daily GPI, Aug. 22).

Northwest continued to bar any on-system balancing or bankingMonday, saying its operational flexibility was “severely limited”by storage accounts being almost full.

Saying linepack had stabilized, El Paso canceled an UnauthorizedOverpull Penalty alert (see Daily, Aug. 11) Friday.