Class-action lawsuits overshadowed the political finger-pointing in California last week as multiple El Paso Energy and Sempra Energy subsidiaries were hit with complaints for alleged conspiracy and price manipulation that led to abnormally high gas prices for consumers.
Tag / Subsidiaries
SubscribeSubsidiaries
Articles from Subsidiaries
Customers Call for Expansion of Pipeline Affiliate Rules
Expansion of the FERC definition of interstate pipelineaffiliate to include other subsidiaries beside marketingaffiliates, and rigorous market monitoring by the Commission,appeared to be the most popular of the solutions offered last weekby pipeline customers to level the playing field in the face of theincreasing convergence of pipeline and power companies.
Customers Call for Expansion of Pipeline Affiliate Rules
Expansion of the FERC definition of interstate pipelineaffiliate to include other subsidiaries beside marketingaffiliates, and rigorous market monitoring by the Commission,appeared to be the most popular of the solutions offered lastThursday to level the playing field in the face of the increasingconvergence of pipeline and power companies.
NRG Energy Joins SRW Cogeneration LP With 50% Share
Conoco subsidiary, Conoco Global Power (CGP) has tappedsubsidiaries of NRG Energy to help own and operate SRW CogenerationLP, and its holdings. NRG Energy purchased a 50% stake in thecompany at an undisclosed cost. Currently, the partnership owns,and will operate a $260 million power facility near Orange, TX, nowunder construction.
NRG Energy Joins SRW Cogeneration LP
Conoco subsidiary, Conoco Global Power (CGP) is selling a 50%stake in SRW Cogeneration Ltd. Partnership to subsidiaries of NRGEnergy. Currently, the partnership owns, and will operate a $260million power facility near Orange, TX, now under construction.
Industry Brief
Asset sales within the energy industry continue to be the nameof the game as the winter heating season begins to set in. Two ofQuestar Corp.’s subsidiaries are the latest participants, as theyhave entered into agreements to sell working interests in oil andgas producing properties in Oklahoma and northern Texas as well asan Oklahoma gas-gathering system. Chesapeake Energy Corp. hasagreed to acquire the assets from Questar Exploration andProduction and Questar Gas Management for $27 million dollars. Thesale includes working interests in 290 properties with a currentcombined net production of about 4.3 MMcf/d and 180 b/d. Theagreement was effective on the first of this month, and thecompanies hope to close the deal by Dec. 31, 2000. The producingproperties do not have long-term strategic importance to Questar,said Gary Nordloh, president of Questar Exploration and Production.The asset sale will help improve operating efficiency and result inan immediate decrease in Questar’s amortization rate, he added.
Industry Briefs
WGL Holdings is the new the parent company of Washington GasLight Co., a regulated natural gas utility that serves over 875,000customers in Washington D.C., and other subsidiaries formerly underWashington Gas before this restructuring. “The creation of this newstructure strengthens our competitive position in the new energyera,” said James H. DeGraffenreidt, Jr., CEO of WGL Holdings. “Itprovides greater financial and regulatory flexibility and enhancesour ability to continue improving our utility operations andgrowing profitable energy-related retail businesses.”
Enterprise Buys Conoco’s Interest in Dixie Pipe
Enterprise Products Partners L.P. and its subsidiaries, leadersin the midstream liquids business, have upped their ownershipinterest in the Dixie Pipeline Co. to 20% with the purchase ofConoco’s 8.3% interest.
El Paso Energy Plans Deep Water Platform
El Paso Energy yesterday announced subsidiaries would developits interest in the Prince prospect, installing a multi-purposetension leg platform (TLP), in the Ewing Bank Block 958 unit in theGulf of Mexico.
NRG Buys 1,875 MW of Generation from Conectiv
Conectiv is selling 1,875 MW of fossil-fired generation andrelated assets that are owned by its subsidiaries, Atlantic CityElectric Co. and Delmarva Power & Light, to NRG Energy ofMinneapolis, a subsidiary of Northern States Power, for $800million. The deal includes a power sales contract at closing, inwhich Delmarva will buy 500 MW from NRG.