PG&E Corp. on Tuesday said that it has entered into a settlement with its National Energy & Gas Transmission Inc. (NEGT) subsidiary to resolve claims that PG&E is obligated to compensate NEGT for tax savings resulting from the incorporation of losses and deductions related to NEGT or its subsidiaries in the utility’s consolidated federal income tax return.
Settles
Articles from Settles
Former BP Trader Settles with CFTC, Ex-El Paso Employees Said to be Targeted
A former trader for BP Energy Co. accused for six illegal “wash” trades between April and June 2000 last week settled with the Commodity Futures Trading Commission (CFTC) for $30,000. Byron G. Biggs, who did not admit or deny the findings, was employed as a power trader by BP from 1999-2003.
Former BP Trader Settles with CFTC, Ex-El Paso Employees Said to be Targeted
A former trader for BP Energy Co. accused for six illegal “wash” trades between April and June 2000 has settled with the Commodity Futures Trading Commission (CFTC) for $30,000. Byron G. Biggs, who did not admit or deny the findings, was employed as a power trader by BP from 1999-2003.
Dynegy Settles Watson Severance Claim, Reclassifies Tax Benefit
Dynegy Inc.’s founder and former CEO Chuck Watson last week settled his severance claims with the company for $22 million, according to a filing with the Securities and Exchange Commission. Watson, who had been seeking $28.7 million, resigned in May 2002 following a disastrous merger attempt with Enron Corp. (see NGI, June 3, 2002).
Dynegy Settles Watson Severance Claim, Reclassifies Tax Benefit
Dynegy Inc.’s founder and former CEO Chuck Watson has received $22 million in exchange for terminating his severance claims, the company said Wednesday in a Securities and Exchange filing (SEC). Watson, who had been seeking $28.7 million, resigned in May 2002 following a disastrous merger attempt with Enron Corp. (see Daily GPI, May 29, 2002).
Duke Energy Settles Power Claims in West, But Probe of Gas Activities Continues
Duke Energy said last Tuesday it reached a settlement agreement in principle that resolves all claims for refunds by California, Oregon and Washington parties arising out of the western electricity crisis in the 2000-2001 time period, as well as various class-action complaints against the company by several western states. But the agreement allows California’s attorney general to continue probing the company’s activities in the natural gas market for the next 30 days.
Former CIBC Director Settles SEC Charges Related to Enron
A former managing director with Canadian Imperial Bank of Commerce (CIBC) agreed last week to pay US$528,750 to settle charges brought by the Securities and Exchange Commission (SEC) last year in connection with Enron Corp.
Former CIBC Director Settles SEC Charges Related to Enron
A former managing director with Canadian Imperial Bank of Commerce (CIBC) agreed Tuesday to pay US$528,750 to settle charges brought by the Securities and Exchange Commission (SEC) last year in connection with Enron Corp.
Duke Energy Settles Power Claims in West, But Probe of Gas Activities Continues
Duke Energy said Tuesday it reached a settlement agreement in principle that resolves all claims for refunds by California, Oregon and Washington parties arising out of the western electricity crisis in the 2000-2001 time period, as well as various class-action complaints against the company by several western states. But the agreement allows California’s attorney general to continue probing the company’s activities in the natural gas market for the next 30 days.
AEP Settles with Enron, Buys Bammel Storage for $115M
American Electric Power (AEP) has agreed to pay Enron Corp. $115 million for all of Enron’s interests in the 7,000-acre underground Bammel gas storage reservoir near Houston and related pipeline and storage assets, including 10.5 Bcf of gas in the storage field.