Sets

Committing to no electricity rate increases during the period, the nation’s largest municipal utility, the City of Los Angeles Department of Water and Power (LADWP), got approval last week from its oversight board for a five-year $3.2 billion capital expenditure plan, including a new natural gas supply pipeline to serve its LA Basin-based generation plants now under a massive repowering program.

The federal judge on Thursday approved Southern Union Co.’s benchmark bid of $2.35 billion for Enron Corp. subsidiary CrossCountry Energy LLC. However, more offers may be made before the deadline of Aug. 23, with the final auction set for Sept. 1.

Committing to no electricity rate increases during the period, the nation’s largest municipal utility, the City of Los Angeles Department of Water and Power (LADWP), got approval last week from its oversight board for a five-year $3.2 billion capital expenditure plan, including a new natural gas supply pipeline to serve its LA Basin-based generation plants now under a massive repowering program.

The Public Utilities Commission of Ohio (PUCO) last Wednesday ordered FirstEnergy Corp. to establish a competitive bidding process to determine standard offer generation service rates for the end of the company’s market development period, but provided for a modified rate stabilization plan if the bids are not acceptable to the Commission.

Depending on how well the U.S. economy fares going forward, Dynegy Inc. will not only recover, but will be an active player as the power sector consolidates, CFO Nick Caruso said last week.

Dallas-based independent Pioneer Natural Resources Co.’s first quarter oil and natural gas sales hit a new record, with both oil and gas sales up 54% from the same period a year ago. However, net income plummeted, partly on an accounting change that benefited 1Q2002’s income.

The Idaho Public Utilities Commission announced Tuesday that it will hold two days of public workshops the end of this month (May 25-26) regarding Spokane, WA-based Avista Utilities’ electric and natural gas rate increase proposals for 105,000 customers in northern Idaho.

Starting off 2004 right, Houston-based Swift Energy Co. said Monday that it has set a new company record for quarterly production for 1Q2004, attaining at least 14.1 Bcfe, an increase of 9% over 1Q2003 production of 12.9 Bcfe and at least 5% greater than the 13.4 Bcfe of production in the fourth quarter in 2003.

FERC has ordered a technical conference to be held to explore a proposed tariff filing in which Northern Natural Gas pipeline seeks to set more restrictive specifications on the quality and content of natural gas entering its system.