Seeking increased growth opportunities, Citizens Utilities ofStamford, CT, is getting out of the business of distributing gas,electricity and water in order to invest in telecommunications. Thecompany is divesting its Public Services distribution businesses,as well as its wastewater treatment business. As previouslyannounced, Citizens plans to fund $2.3 billion of telephone accessline acquisitions with sale proceeds.
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PSCo: Don’t Try to Resuscitate Front Runner
Given that the case is now before a court, FERC is “powerless”to act on KN Wattenberg Transmission LLC’s petition seeking aone-year extension of the construction and operation deadline forits proposed 109-mile Front Runner Pipeline, which was supposed tobegin service this month, says a competing pipeline.
Debt-Reprieved Costilla Seeking Options
Costilla Energy Inc. of Midland, TX, is examining its optionsafter lenders extended until June 1 a $10.2 million mandatoryprincipal payment due a bank credit facility. Petrie Parkman &Co. was hired to weigh potential deals.
Debt-Reprieved Costilla Seeking Options
Costilla Energy Inc. of Midland, TX, is examining its optionsafter lenders extended until June 1 a $10.2 million mandatoryprincipal payment due a bank credit facility. Petrie Parkman &Co. was hired to weigh potential deals.
Dominion, CNG Seeking Power Plant Options
Dominion Resources Inc. of Richmond, VA, and a subsidiary ofPittsburgh-based Consolidated Natural Gas Co. signed an agreementto develop gas-fired power generation facilities along CNG’spipeline system. Dominion Resources and CNG power company willidentify and evaluate potential sites for development of facilitiesalong CNG’s natural gas pipeline network in Ohio, Pennsylvania, NewYork, West Virginia and Virginia. Dominion Resources and CNGaffiliates will develop, own, operate and maintain the facilitieson a 50-50 ownership basis.
Palmetto Pipeline Declares Open Season
The Palmetto Pipeline, a proposed joint venture between CarolinaPower & Light (CP&L) and Sonat, announced an open seasonMonday seeking interest from potential firm gas transportationservice customers for terms of at least 20 years. The open seasonbegan April 1 and will continue through May 31.
East Tennessee Seeking Interest in Expansion
East Tennessee Natural Gas, a unit of Houston-based El PasoEnergy, is holding an open season for incremental capacity alongits mainline in Tennessee and Virginia. The proposed expansionwould entail construction of mainline pipeline, compression andrelated facilities. Service is targeted to begin Nov. 1, 2000.
Southern Energy Taking New Atlanta Office Space
Seeking to accommodate growth, Southern Energy Inc. will move toa new Atlanta office, with the Southern Company Energy Marketingunit relocating by December and the headquarters going a yearlater.
East Tennessee Seeking Interest in Expansion
East Tennessee Natural Gas, a unit of Houston-based El PasoEnergy, is holding an open season for incremental capacity alongits mainline in Tennessee and Virginia. The proposed expansionwould entail construction of mainline pipeline, compression andrelated facilities. Service is targeted to begin Nov. 1, 2000.
Southern Co. Taking New Atlanta Office Space
Seeking to accommodate growth, Southern Energy Inc. will move toa new Atlanta office, with the Southern Company Energy Marketingunit relocating by December and the headquarters going a yearlater.