SCANA Corp. subsidiary PSNC Energy has entered into a settlement agreement with staff of the North Carolina Utilities Commission (NCUC) and the Carolina Utility Customers Association that provides for an increase in PSNC Energy’s annual natural gas margin revenues of approximately $9.1 million, or 1.32% — nearly 56% less than the $20.4 million increase PSNC had requested. The settlement agreement also includes a reduction in PSNC fixed gas costs, which represents a pass-through for the company, of approximately $8.4 million and establishes an allowed return on common equity of 10.6%. The agreement also allows PSNC to implement a rate decoupling mechanism, which breaks the link between revenues and the amount of natural gas sold, allowing the company to periodically adjust its base rates based on customer consumption. If approved by the NCUC, the settlement agreement will become effective on Nov. 1. In June the NCUC approved an increase to the purchased gas component of the company’s retail natural gas rates, effective with July bills. The increase raised the company’s residential rate by 15%, taking it from approximately $1.50/therm to approximately $1.72/therm. Gastonia, NC-based PSNC distributes gas to approximately 458,000 customers in 28 North Carolina counties.
Staff
Articles from Staff
FERC OKs Start of Construction on REX-East
FERC staff last Wednesday granted Rockies Express LLC’s (REX) request to begin construction of facilities associated with the eastern leg of the 1,678-mile pipeline, which will transport Rocky Mountain natural gas to Midwest and eastern markets.
FERC OKs Start of Construction on REX-East
FERC staff Wednesday granted Rockies Express LLC’s (REX) request to begin construction of facilities associated with the eastern leg of the 1,678-mile pipeline, which will transport Rocky Mountain natural gas to Midwest and eastern markets.
FERC Approves Start-Up of Gulf South’s Southeast Expansion
The staff of the Federal Energy Regulatory Commission Friday gave Gulf South Pipeline Co. LP, a subsidiary of Boardwalk Pipeline Partners LP, the go-ahead to begin service on a major expansion that gives Texas, Oklahoma, Arkansas and Louisiana natural gas supplies greater access to Northeast, Florida and other Southeast markets.
FERC Approves Start-Up of Gulf South’s Southeast Expansion
FERC staff on Friday gave Gulf South Pipeline Co. LP, a subsidiary of Boardwalk Pipeline Partners LP, the go-ahead to begin service on a major expansion that gives Texas, Oklahoma, Arkansas and Louisiana natural gas supplies greater access to Northeast, Florida and other Southeast markets.
Industry Brief
Houston-based CenterPoint Energy and the staff of the Arkansas Public Service Commission (APSC) have filed a stipulation and agreement with the commission in the company’s pending rate case. If approved by the APSC, the settlement would resolve all issues in that proceeding. The settlement would increase the company’s natural gas distribution base rate revenues for Arkansas customers by about $20 million per year. Additionally, if approved, the settlement would implement a decoupling mechanism to help stabilize revenues by separating or decoupling company revenues from the volume of gas sold. Pending approval, the new rates would go into effect Nov. 1. Residential customer rates would increase less than 5% a month, CenterPoint said.
AmerenUE Gas Delivery Settlement Nets $5M Less Than Expected
Ameren Corp.’s utility subsidiary, AmerenUE, has entered into a settlement agreement with the staff of the Missouri Public Service Commission (MPSC), the Office of Public Counsel, the Missouri Department of Natural Resources and other parties to implement new natural gas delivery rates and terms for its Missouri gas customers.
AmerenUE Gas Delivery Settlement Would Give Utility $6M of $11M Revenue Request
Ameren Corp.’s utility subsidiary, AmerenUE, has entered into a settlement agreement with the staff of the Missouri Public Service Commission (MPSC), the Office of Public Counsel, the Missouri Department of Natural Resources and other parties to implement new natural gas delivery rates and terms for its Missouri gas customers.
After Tough Year, Stone Energy Poised to Take A Breather
As 2006 draws to a close the management and staff at Lafayette, LA-based independent Stone Energy Corp. are saying goodbye to what they likely will remember as the company’s annus horribilis.
Draft Environmental Statement Issued for Northeast Gateway LNG
FERC staff, in a notice issued Friday, said it has cooperated in a Draft Environmental Impact Statement (DEIS) on the Northeast Gateway offshore LNG project planned by Excelerate Energy LLC, with a 16-mile, 24-inch diameter pipeline to be built by Algonquin Gas Transmission to connect the proposed LNG facility with the HubLine pipeline in Massachusetts.
