With the number of players and volumes of energy deals slumping badly, large national industrial and commercial customers have fewer creditworthy parties to help hedge their portfolios, but for some of the energy service sector players this spells opportunity. San Diego-based Sempra Energy’s energy services firm pulled about half of it revenues and even more of its margin from hedging and related commodity services for large end-users this year, according to the company. For traditional traders, it is a different story.
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SoCalGas Sees Some Tight Spots Within Overall System with 20% Slack
Within the larger context of expanded capacity and a newly unbundling transmission/storage system, Sempra Energy’s Southern California Gas Co. utility has identified potential future constraints on its intrastate transmission pipeline system in the Imperial and San Joaquin Valleys where power plants and large industrial customers operate. These areas are potentially tight only on a seasonal basis, such as the summer in Imperial and winter in the San Joaquin valley, according to SoCalGas’ Steve Watson, capacity planning manager, who spoke Tuesday at a GasMart/Power panel discussion in Reno.
March 20, 2002
FPL Exits Northeast Retail; PP&L Picks Up Slack
Gas and electricity customers in Pennsylvania and New Jersey -previously served by Florida-based FPL Energy Services – soon willbecome customers of PP&L Energy Plus. PP&L EnergyPlus Co.,the retail marketing arm of PP&L Resources Inc., agreed toserve the customers after FPL Energy Services decided to exit thecompetitive energy markets in the Northeast. Terms of thetransaction were not disclosed.
January 14, 2000
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