Another shoe dropped Tuesday in the debate over creating national subsidies for natural gas used in vehicular transportation as the large manufacturing sector expressed strong opposition to a proposal released earlier this month in the U.S. Senate (S 1863) to expand tax credits for gas transportation infrastructure and vehicles (see Daily GPI, Nov. 17). At the same time, industrial users struck back against potential widespread U.S. exports of gas.
Shoe
Articles from Shoe
SEC, U.S. Attorney Charge Former Nicor Energy Execs With Fraud
The waiting for the other shoe to drop regarding Nicor Energy LLC is over as rumors of fraudulent accounting, which have been swirling since last year, have turned into suits filed by the Securities and Exchange Commission (SEC) and the U.S. Attorney for the Northern District of Illinois.
December 15, 2003
SEC, U.S. Attorney Charge Nicor Energy Execs With Fraud
The waiting for the other shoe to drop regarding Nicor Energy LLC is over as rumors of fraudulent accounting that have been swirling since last year have turned into suits filed by the Securities and Exchange Commission (SEC) and the U.S. Attorney for the Northern District of Illinois.
December 12, 2003
NRG Energy, Reliant Stoke Bankruptcy Fears in SEC Filings
Is the second shoe of another bankruptcy filing in the energy merchant sector about to drop? No doubt it’s a question on the minds of a lot of energy industry executives after Xcel Energy last Monday said that there is a “substantial likelihood” that its NRG Energy unit will be the subject of a bankruptcy proceeding and Reliant Resources warned that it may need to pursue Chapter 11 if it can’t cobble together financing deals on acceptable terms.
November 25, 2002
Houston Jury Raps HL&P With $30M in Damages
The other shoe – five times larger than the first – dropped onReliant Energy’s Houston Lighting & Power Co. (HL&P) lastweek in a case that found the utility defrauded three Texas citiesof fees owed for its exclusive right to sell electricity. Adistrict court jury in Houston awarded the three cities $10 millioneach in punitive damages. That’s on top of $4.2 million in actualdamages (about $6 million including interest and attorneys’ fees)awarded two weeks ago.
April 10, 2000
Houston Jury Hits HL&P With $30M Damages
The other shoe – five times larger than the first – dropped on Reliant Energy’s Houston Lighting & Power Co. (HL&P) Tuesday in a case that found the utility defrauded three Texas cities of fees owed for its exclusive right to sell electricity. Yesterday, a district court jury in Houston awarded the three cities $10 million each in punitive damages. That’s on top of $4.2 million in actual damages (about $6 million including interest and attorneys’ fees) awarded last week (see Daily GPI April 3).
April 5, 2000
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