Steering

BP plc still faces legal hurdles, but it jumped a big one late Friday after clinching a hard-fought settlement with the Plaintiff’s Steering Committee (PSC) to resolve a “substantial majority of legitimate economic loss and medical claims” from the Macondo well blowout two years ago in the deepwater Gulf of Mexico. The PSC acts on behalf of thousands of individuals and businesses in the multi-district litigation (MDL) proceedings pending in New Orleans (MDL 2179).

A coalition of 151 North Texas cities known as the Atmos Cities Steering Committee (ACSC) negotiated an agreement with the Mid-Tex Division of Atmos Energy Corp. that will reduce that company’s latest residential rate increase request by more than 80% — from a proposed $52 million to $10 million. The group said last week it has recommended approval of the settlement to its members.

A coalition of 151 North Texas cities known as the Atmos Cities Steering Committee (ACSC) negotiated an agreement with the Mid-Tex Division of Atmos Energy Corp. that will reduce that company’s latest residential rate increase request by more than 80% — from a proposed $52 million to $10 million. The group said Monday it has recommended approval of the settlement to its members.

For those who would generate and sell electricity in thecompetitive marketplace, the future is one of many opportunitiesand at least as many challenges. “There’s no guaranteed costrecovery. You’re going to have to manage your fuel cost and youroperational excellence outside of the rate base mentality,” saidWilliam J. Grealis, chief strategic officer and vice president forcorporate services for Cinergy Corp. “You’re going to have tounderstand with your generation portfolio how many additionalmillion megawatt hours can you generate at what price to dispatchinto the market to make money.

For those who would generate and sell electricity in thecompetitive marketplace, the future is one of many opportunitiesand at least as many challenges. “There’s no guaranteed costrecovery. You’re going to have to manage your fuel cost and youroperational excellence outside of the rate base mentality,” saidWilliam J. Grealis, chief strategic officer and vice president forcorporate services for Cinergy Corp. “You’re going to have tounderstand with your generation portfolio how many additionalmillion megawatt hours can you generate at what price to dispatchinto the market to make money.