Supply

Southern Wholesale Energy, the trading arm of Southern Company,signed a wholesale power supply contract with Dynegy Energy toprovide 260 MW of power from its excess wholesale capacity. Theagreement is the second wholesale power agreement between the twocompanies within the last six months.

Panda Energy International inked a firm electrical transmissionagreement with Arizona Public Service to supply power from itsproposed natural gas-fired 2,000 MW plant to be located in the townof Gila Bend. The proposed plant is before the Arizona CorporationCommittee for review. Senior vice president of merchant plantdevelopment for Panda, Garry Hubbard, said that the firm contractis “a critical step forward for the plant.” The new plant is onschedule to commence construction later this year, with start up 18months later, he added. Powering the plant will be eight GeneralElectric 7 FA natural gas turbines operating in combined cycle.

On behalf of the Natural Gas Supply Association, Conoco GeneralManager Mike Johnson is scheduled today to recommend that thegovernment maintain a hands-off approach to the natural gas marketdespite concerns about a potential crisis from Senate Energy andNatural Resources Committee Chairman Frank Murkowski, Sen. CharlesE. Schumer (D-NY) and other lawmakers. Several congressmen andsenators have voiced concern recently about high prices, low storagelevels and rising demand (see Daily GPI, July 11).

With lofty goals of becoming a nationally recognized leader inretail energy supply, The New Power Company, formed in May throughan alliance of Enron, America Online, IBM, and General Electric,filed with the Securities and Exchange Commission (SEC) on Fridayto launch an initial public offering of $400 million.

CanWest Gas Supply Inc., an old-line natural gas aggregator in British Columbia — and also the largest — has agreed to allow Atlanta’s Southern Company Energy Marketing to manage its business.

In the wake of California’s latest round of electricity priceand supply shock concentrated in San Diego, some of the state’smajor energy industry participants have raised the level ofinterest in forward markets and hedging. San Diego Gas and ElectricCo., in particular, has been second guessed about why it did notuse available hedging instruments through the state’s nonprofitpower exchange to help ease the impact of recent wholesale pricespikes on its retail customers.

CanWest Gas Supply Inc., an old-line natural gas aggregators inBritish Columbia — and also the largest — has agreed to allowAtlanta’s Southern Company Energy Marketing to manage its business.

Parties will meet in an Atlanta courtroom today to decide whichcompany will win the right to supply the 50,000 customers of gasmarketer Titan Energy of Georgia, which filed for Chapter 11 overthe Fourth of July weekend. Titan became the second marketer toseek bankruptcy protection in Georgia in less than a year.

Parties will meet in an Atlanta courtroom today to decide whichcompany will win the right to supply the 50,000 customers of gasmarketerTitan Energy of Georgia, which filed for Chapter 11 overthe Fourth of July weekend. Titan became the second marketer toseek bankruptcy protection in Georgia in less than a year.