Subsidiaries

TransCanada Corp. subsidiaries TransCanada PipeLines Limited (TCPL) and TransCanada Keystone Pipeline GP Ltd. (Keystone) have filed an application with the National Energy Board (NEB) seeking approval to transfer a portion of TransCanada’s Canadian Mainline natural gas transmission facilities to the Keystone Oil Pipeline project for the purposes of transporting crude oil from Alberta to refining centers in the U.S. Midwest.

Standard & Poor’s Ratings Services (S&P) on Tuesday raised the long-term corporate credit rating on pipeline giant El Paso Corp. and its subsidiaries to “B+” from “B” following the progress the company has made to refocus its businesses. Its outlook is “positive.”

Oneok Inc. said it has been selected to provide subsidiaries of FirstEnergy Corp. with natural gas supply and gas management services for three natural gas-fired power plants. Under the three-year contract, Oneok Energy Services will serve as the exclusive gas commodity and services provider to FirstEnergy Generation Corp.’s power plants in Richland and West Lorain, OH, and Sumpter, MI.

Enron Corp. on Friday said that it has reached agreements to settle all civil and contractual claims between the company, including certain of its subsidiaries, and three parties — FERC trial staff, the city of Santa Clara, CA, and Valley Electric Association Inc.

Two Scana subsidiaries, South Carolina Pipeline Corp. (SCPC) and SCG Pipeline Inc. (SCG), filed a FERC application Monday to merge, forming a new 2,032-mile open-access interstate gas pipeline transportation only system with about 661,000 Dth/d of estimated firm capacity.

Moody’s Investors Service last week placed El Paso Corp. and its subsidiaries under review for a possible upgrade, reflecting the possibility the Houston-based company will reduce more of its debt in the near future than previously expected and because there are “signs of recovery” within its revamped exploration and production operations.

Moody’s Investors Service on Wednesday placed El Paso Corp. and its subsidiaries under review for a possible upgrade, reflecting the possibility it will reduce more of its debt in the near future than previously expected and because there are “signs of recovery” in its exploration and production operations.

Sempra Energy and its two major utility subsidiaries Wednesday announced they have reached a $350 million settlement agreement resolving claims in several class action lawsuits related to the 2000-2001 western U.S. energy crisis, including the Continental Forge, Nevada and some natural gas price reporting cases. The agreement is subject to the approvals of the San Diego Superior Court where a jury trial is now ongoing, the Nevada District Court for Clark County, City of Los Angeles and the City of Long Beach, CA (see Daily GPI, Nov. 1, 2005).

Sempra Energy and its California utility subsidiaries, Southern California Gas and San Diego Gas & Electric, agreed to settle with 12 plaintiffs in the “Continental Forge” class action lawsuit over the weekend. Terms of the deal were not disclosed. However, the multibillion dollar case involving allegations of natural gas price manipulation continues in California Superior Court in San Diego County. Jury selection started last week.