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Sir John Browne, BP Amoco’s CEO, gave a peek into the integratedenergy giant’s future Thursday as he told analysts in London of aworldwide three-year plan to cut $4 billion in costs, sell $10billion in non-core assets, and boost capital expenditures $26billion. The company’s overall goal is to add six percentage pointsto its return on capital by the end of the three-year period.Browne also announced plans for a shareholder meeting Sept. 1, whenthe merger with Arco will go to a vote.

In what was said to be a message for Wall Street rather thanstate energy regulators, PG&E Corp. announced Monday that itssecond quarter results due out July 21 will be lower-than-expectedbecause of continuing delays in getting a decision on its pendinggeneral rate case before the California Public UtilitiesCommission. The company made a similar announcement near the end ofthe first quarter.

The New York State Public Service Commission has approved thesale of all electricity generating facilities owned by Orange andRockland Utilities, including a facility owned jointly withConsolidated Edison of New York, to affiliates of Southern Energy,Inc. for $476.3 million. All net proceeds from the sale will beused for the benefit of O&R and Con Edison ratepayers.

Dominion Resources and Consolidated Natural Gas won approval for their merger from the Pennsylvania Public Utility Commission (PUC) in CNG’s home state, but not without concessions for both gas and electric ratepayers.

The Pennsylvania Public Utility Commission finalized rules forfull customer choice, setting the procedure for all of the state’s5.2 million electric customers to choose suppliers.

The Pennsylvania Public Utility Commission finalized rules forfull customer choice, setting the procedure by which all of thestate’s 5.2 million electric customers can choose suppliers.

In a draft order the FERC approved Northwest Pipeline’s mainlineexpansion plans in the Columbia River Gorge area of WashingtonState. The expansion will add 10,870 horsepower of compression atthree existing stations, increasing mainline capacity by 50,000Dth/d between the Stanfield, OR, meter station, where Northwestinterconnects with PG&E Gas Transmission-Northwest, andNorthwest’s interconnect with Sumas International Pipeline (SIPI)near Sumas, WA. (Dockets CP98-554-000 and CP98-554-001)

Texas’ electricity markets would open to competition Jan. 1,2002 if a bill making its way through the state legislature passesthe senate. An earlier version of the bill passed the senate, butanother vote is required there since the legislation changed in thehouse. The governor has voiced his support for deregulation.

Columbia Gas of Virginia filed a motion with the Virginia StateCorporation Commission (SCC) last week to extend its pilot programthrough Oct. 1, 2000. The two-year program is set to expire inOctober of this year. The SCC said no date has been set for aruling on the filing.