Sound

The North American oil and natural gas industry’s liquidity remains sound despite the turbulence in the credit markets, but if natural gas prices continue to decline, it could lower the value of reserves and the borrowing base of many exploration and production (E&P) companies, Moody’s Investors Service said.

The liquidity of the North American oil and natural gas industry remains sound despite the turbulence in the credit markets, but if natural gas prices continue to decline, it could lower the value of reserves and the borrowing base of many exploration and production (E&P) companies, Moody’s Investors Service said.

With a new state global climate change law and increasing industry pressure, Bellevue, WA-based Puget Sound Energy (PSE) Thursday sent a considerably more conservation- and clean energy-focused integrated resource plan (IRP) to the Washington Utilities and Transportation Commission (WUTC). It emphasizes energy-saving programs, renewable resources and natural gas-produced electricity supplies over the next 20 years.

With a new state global climate change law and increasing industry pressure, Bellevue, WA-based Puget Sound Energy (PSE) Thursday sent a considerably more conservation- and clean energy-focused integrated resource plan (IRP) to the Washington Utilities and Transportation Commission (WUTC), carrying implications for future natural gas-fired power generation in the Pacific Northwest. The new IRP emphasizes energy-saving programs, renewable resources and natural gas-produced electricity supplies over the next 20 years.

Staff members of the Washington Utilities and Transportation Commission (WUTC) last Wednesday recommended that Washington State utility, Puget Sound Energy (PSE), be fined $2 million for failing to maintain accurate and complete records of suspected natural gas leaks.

Staff members of the Washington Utilities and Transportation Commission (UTC) have recommended that Washington State utility, Puget Sound Energy (PSE), be fined $2 million for failing to maintain accurate and complete records of suspected natural gas leaks.

Puget Energy and its principal utility subsidiary, Puget Sound Energy (PSE), expanded senior leadership. Eric Markell becomes executive vice president and CFO; Bertrand Valdman becomes executive vice president and COO; and Kimberly Harris becomes executive vice president and chief resource officer (CRO). Markell joined the company in 2002, Valdman in 2003 and Harris in 1999. “Their new assignments will broaden and focus the management expertise of our entire leadership team. This realignment adds more focus to our efforts to continue to improve our gas and electric [utility] service, to our development of a full range of energy and energy efficiency resources, and to improving our financial ability to deliver on our region’s expectations,” said CEO Stephen Reynolds. Puget’s PSE utility is the state of Washington’s oldest and largest private-sector utility, serving 1 million electric and 718,000 natural gas customers in 11 counties — primarily in western Washington.

In response to the industrywide sunburn developing from global warming concerns, Bellevue, WA-based Puget Sound Energy (PSE) this spring is rolling out a stepped-up smorgasbord of energy-saving programs with the dual purpose of combating global climate change and rising wholesale energy prices. The combination Puget Energy utility said it is increasingly directing more of its resources in western Washington state to “helping customers conserve electricity and natural gas.”

Gas utility business customers are “significantly” more satisfied with their service now than they were a year ago, according to a study by market researcher J.D. Power and Associates. At the 38 largest U.S. gas utilities, the study found the overall satisfaction index scores for business customers have increased an average of 37 points to 723 on a 1,000-point scale.