Houston-based Amerex Natural Gas Inc. and sister company AmerexPower Inc. together bought the gas and electricity brokeragebusinesses of Houston-based BTU Brokers Ltd. for an undisclosedprice. As a result, Amerex’s daily average of physical and papergas deals grew 12.4% to $287 million, and physical and paper powerdeals increased 5% to $175 million for a combined annual value of$121 billion in gas and power deals.
Southern
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TransTexas Chapter 11 Plan OK’d
TransTexas Gas Corp. said the United States Bankruptcy Court forthe Southern District of Texas confirmed the company’s Chapter 11reorganization plan, which takes effect as soon as possible.
SoCal Agrees to Pay Penalty in Storage Sale
In the aftermath of an extremely critical consultant’s report onits handling of a prospective asset sale, Southern California Gashas reached a settlement with one part of the state regulatorycommission and is separately trying to reopen the possible sale ofits smallest Los Angeles Basin underground natural gas storagefacility in an eastern Los Angeles suburb. An administrative lawjudge (ALJ) with the California Public Utilities Commission isconsidering whether to recommend the deal to the full five-memberCPUC.
SoCalGas to File Interim Draft Settlement
Southern California Gas Co. filed a draft interim settlementwith state regulators last week that has backing from most of themajor end-users on its system, along with some marketers andpipelines. An alternate draft proposal from a minority of thestakeholders led by Enron, calling itself the California Alliancefor Competition, also will be filed, but probably not until afterthe holidays.
Amoco, Burlington, SoCalGas Expand Attack on El Paso
Amoco, Burlington Resources and now Southern California Gas have broadened the attack on El Paso Natural Gas’ capacity allocation procedures and have requested that FERC block El Paso’s new $38 million contract with Enron for 1.2 Bcf/d of firm capacity.
Amoco, Burlington, SoCalGas Expand Attack on El Paso
Amoco, Burlington Resources and now Southern California Gas have broadened the attack on El Paso Natural Gas’ capacity allocation procedures and have requested that FERC block El Paso’s new $38 million contract with Enron for 1.2 Bcf/d of firm capacity.
SoCal Gas Resttructuring Proposal Due
Southern California Gas is expected to file with stateregulators a draft interim settlement this week that has backingfrom most of the major end users on its system, but California’sslow-moving gas industry restructuring process still has weeks andseveral alternate proposals to work through before there ismeasurable progress.
Industry Briefs
Southern Union Co. received final approval from the FederalEnergy Regulatory Commission for its merger with PennsylvaniaEnterprises Inc. The FERC approved transfer of control of powermarketing licenses held by Pacific Enterprises. The merger,announced June7, is expected to close Thursday.
Williams Wins Right to Challenge El Paso Settlement
No sooner has El Paso Natural Gas resolved its dispute withSouthern California Edison over the 1996 capacity-turnbacksettlement than another potential threat has cropped up. Last weekthe D.C. Circuit Court of Appeals gave Williams Field ServicesGroup Inc. another bite at the apple to challenge the rates in thecontroversial settlement.
Williams Wins Right to Challenge El Paso Settlement
No sooner has El Paso Natural Gas resolved its dispute withSouthern California Edison over the 1996 capacity-turnbacksettlement than another potential threat has cropped up. Last weekthe D.C. Circuit Court of Appeals gave Williams Field ServicesGroup Inc. another bite at the apple to challenge the rates in thecontroversial settlement.