The Georgia House and Senate passed separate bills last week that would change the states deregulation program for the first time since its inception in 1998. The changes, however, are a far shot from the re-regulation that some legislators including Georgia Sen. Regina Thomas (D-Savannah) had sought.
Articles from Separate
Lawsuits Claim Sempra, El Paso Conspiracy
Separate class action lawsuits tied to California’s natural gasand electricity price spikes were filed Monday alleging that a”conspiracy” dating back to 1996 between Sempra Energy’s twoutility companies and El Paso Natural Gas has contributed to thestate’s skyrocketing energy prices and short supplies.
Laclede Moves to Split Regulated, Unregulated Units
Laclede Gas Co. has moved to separate its regulated andunregulated entities in an effort to give the unregulated arm ofthe natural gas distributor more flexibility and financing options.The St. Louis company’s board of directors voted for authorizationfrom the Securities and Exchange Commission to reorganize.
CA Gov. Vetoes San Diego Utility Bailout Funds
California Gov. Gray Davis over the weekend signed into law and vetoed separate measures addressing parts of the state’s ongoing electricity crisis. Davis acted on a half dozen initiatives as the deadline for enacting new state laws expired Saturday. Among the new laws are ones that will accelerate power plant siting and extend ratepayer-supported energy efficiency programs.
Federal Hearings Attract Ideas for California Power Market Fixes
Separate Congressional and regulatory hearings in San Diego lastweek turned up a wide array of potential prescriptions for curingwhat ails California’s still-convalescing wholesale power market,but it also exposed the continuing federal-state head-butting.State officials mostly want to first satisfy the consumer-relatedproblems, returning to regulated rates if necessary, while FederalEnergy Regulatory Commission members don’t want to abandon theiralmost decade-long push for market-based energy industries.
Southern Company Mounting IPO
In a move to attract investors, Southern Company plans to createa separate company for most of its non-utility businesses, sell19.9% of the company to the public through an initial publicoffering and spin the rest off to shareholders.
RTOs Continue Down Separate Paths
Congestion is about a $100 to $200 million problem in thePennsylvania-New Jersey-Maryland (PJM) independent system operator(ISO) area, but it is being addressed through a combination ofmanagement and capital improvement steps that include a long listof natural gas-fired new generating plants, according to anexecutive with the PJM ISO’s regional power district, the largestin the nation.
Western Resources Reorganizes Structure
Attempting to better organize its businesses and release hiddenvalue in its operations, Western Resources said yesterday it willseparate its electric utility businesses under a differentcorporate umbrella from its non-electric affiliates. Both companieswill be public entities. The separation is expected occur through avoluntary exchange offer expected to be completed prior toyear-end.
Royalty Owners Suit Targets UPR
More than 27,000 Texas royalty owners were granted class actionstatus in a suit against Ft. Worth-based Union Pacific ResourcesGroup Inc. Other defendants include UPR affiliates Union PacificResources Co., Union Pacific Fuels Inc., Union Pacific Oil and GasCo., and Union Pacific Austin Chalk Co.
Exxon-Mobil Marching Toward Marriage
Exxon Mobil launched a new organization structure built on aconcept of eleven separate global businesses designed to allow thecompany to compete more effectively in a changing worldwide energyindustry. Lee Raymond, CEO, said by mid-December the company willannounce a revised forecast of merger benefits that will likelyexceed the $2.8 billion annual level announced last year.