Stick

Showing a carrot, but keeping a “stick” in reserve, CaliforniaGov. Gray Davis Friday outlined for federal regulators steps hewill pursue to fix the state’s ailing wholesale electricity market,stopping short of proposing a state takeover, but hinting he willgo further if federal measures fall short.

Both large and small exploration and production companies shoulduse the same philosophy to create value for their shareholders:manage the present to enable the future, advised Conoco Inc.Executive Vice President Robert McKee III at Arthur Andersen’sEnergy Symposium in Houston yesterday.

California may have gotten the short end of the power stick lastsummer, but according to a FERC staff report, it may just have beena matter of degree days separating other regions of the countryfrom a similar fate.

California may have gotten the short end of the power stick lastsummer, but according to a FERC staff report, it may just have beena matter of degree days separating other regions of the countryfrom a similar fate.

Oklahoma Corporation Commission Chairman Bob Anthony stillbelieves his state’s ratepayers are getting the short end of thestick in a 10-year supply contract that Oklahoma Natural Gas (ONG)originally made with now-bankrupt Dynamic Energy Resources. That1993 contract was divided and transferred to two other suppliersnow serving the utility under the original terms.

Oklahoma Corporation Commission Chairman Bob Anthony still isnot satisfied that his state’s ratepayers are not getting the shortend of the stick in a 10-year supply contract between OklahomaNatural Gas (ONG) and Dynamic Energy Resources. In a press releaseissued earlier this week, Anthony charges under the contract ONG ispaying 50% more than it should be for some of its gas supply andpassing the cost on to consumers.

The majority of residential gas customers interviewed inBrooklyn and Long Island said they want their existing utility as aprovider of choice in a competitive retail market, according tomarket research results presented by a Brooklyn Union (BU)executive yesterday. The findings fly in the face of the New YorkPublic Service Commission’s directive ordering all utilities toexit the merchant natural gas role.