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An attempt to score a quick tax-cut coup has been quietly abandoned by TransCanada PipeLines Ltd., which beat a retreat from a public airing of its political agenda in a potentially lengthy regulatory case. The company said it would hold off action on the case pending the report of a federal-provincial task force which is considering changes in the overall pipeline regulatory regime.

An attempt to score a quick tax-cut coup has been quietly abandoned by TransCanada PipeLines Ltd., which beat a retreat from a public airing of its political agenda in a potentially lengthy regulatory case. The company said it would hold off action on the case pending the report of a federal-provincial task force which is considering changes in the overall pipeline regulatory regime.

An attempt to score a quick tax-cut coup is stretching out into a federal case for TransCanada PipeLines Ltd., with governments that stand to lose the money being offered a chance to put up a fight. The National Energy Board has put off deciding even whether it has to approve the action until TransCanada explains itself much more fully. At the same time, the NEB is working on a procedure for collecting reactions by the provincial governments which stand to lose money as a result of the scheme. All have been officially informed by the board.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. has set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

An attempt to score a quick tax coup by TransCanada PipeLines Ltd. set off a flurry of activity among legal and regulatory experts before the National Energy Board. Savings of C$8 million (US$5.3 million) per year off continuing taxes — plus a reduction of C$75 million (US$50 million) off deferred tax liabilities — are projected by the company if it can carry out its plan.

Natural gas drilling in the shallow Central Gulf of Mexico drewthe most bids, which were mostly from U.S. independents, in thisweek’s Minerals Management Service lease sale. MMS reported that60% of the bids were for shallow water tracts in acreage less than200 meters deep, considered the best places for quick gasproduction, with total bidding of $227.654 million.

Enron Corp., the world’s largest energy trader, and DynegyCorp., which plans to try harder to be the second or third largesttrader in the next few years, reported over-the-top earnings forthe third quarter yesterday, reaping the benefits of skyrocketingenergy prices and a continued focus on asset expansion.

The pending merger of American Electric Power (AEP) of Columbus,OH, and Central and South West Corp. of Dallas, TX, receivedantitrust clearance from the Department of Justice. Approvals thatremain include the Federal Energy Regulatory Commission (FERC), theFederal Communications Commission (FCC) and the Securities andExchange Commission (SEC). Upon completion of the merger, the newcompany will be called American Electric Power.