Uniform electricity markets across the Northeast and Mid-Atlantic regions moved one step closer to becoming reality last week as electricity market administrators, Independent System Operator (ISO) New England Inc. and PJM Interconnection LLC, reported that they have teamed up with systems developer ALSTOM ESCA Corp. to formalize an agreement that will standardize their electricity markets. The ISOs also believe the model could be adopted by wholesale markets across the country.
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ISO-NE, PJM Team Up for Uniform Market
Uniform electricity markets across the Northeast andMid-Atlantic regions moved one step closer to becoming reality onThursday as electricity market administrators, Independent SystemOperator (ISO) New England Inc. and PJM Interconnection LLC,reported that they have teamed up with systems developer ALSTOMESCA Corp. with the intent to formalize an agreement that willstandardize their electricity markets. The ISOs also believe themodel could be adopted by wholesale markets across the country.
Unocal, Ocean Team Up in GOM Deepwater
Unocal Corp. said yesterday that Ocean Energy Inc. and anunnamed company have agreed to participate in multiple prospects inits Keathley Canyon leases in the deepwater Gulf of Mexico. Theprospects are south and west of the Green Canyon area, and Unocalsaid the first wildcat would be on the Ponza prospect.
Newfield Ropes In Gas-Rich Lariat for $333 Million
Houston-based Newfield Exploration Co. entered the new Milleniumwith a bang, agreeing to buy rival Lariat Petroleum Inc. for nearly$333 million in cash, stock and assumed debt, and boosting itsreserves by about 40%. The properties, 90% in the Anadarko Basin ofOklahoma, produce 60 MMcf/d, and include 256 Bcf of reserves.
Coral and Pemex Team Up on Border Crossing Pipeline
Coral Energy and Mexico-based Petroleos Mexicanos (Pemex) completed their 104-mile pipeline linking the Pemex pipeline system at Arguelles in the Mexico state of Tamaulipas with Coral’s pipeline system on the King Ranch in South Texas.
Coral and Pemex Team for Border Crossing
Today began with one more operational cross-border natural gaspipeline in place than there was last month, as Coral Energy andMexico-based Petroleos Mexicanos (Pemex) announced yesterday thecompletion of their 104-mile pipeline linking the Pemex pipelinesystem at Arguelles in the Mexico state of Tamaulipas, with Coral’spipeline system on the King Ranch in South Texas.
FirstEnergy, GPU Form Mid-Atlantic Team
FirstEnergy of Akron, OH, will acquire New Jersey’s GPU Inc. ina $12 billion deal that will create the sixth largestinvestor-owned electric system in the country with the largestcustomer base in the Pennsylvania-New Jersey-Maryland (PJM) powerpool.
Hurricane Forecast Cut, But Season Still Active
Renowned hurricane forecaster Dr. William Gray and his team ofsoothsayers at Colorado State University have scaled back theirforecast made in early June for the 2000 hurricane season, butstill expect it to be more active than average.
Hurricane Forecast Cut, But Season Still Active
Renowned hurricane soothsayer Dr. William Gray and his team atColorado State University have scaled back their forecast for thehurricane season but still expect the season to be more active thanaverage. Seven rather than eight hurricanes are expected now andonly three of them are expected to be intense rather than the fourexpected in the group’s prior forecast on June 7. In round numbers,the August forecast is for three named storms, two hurricanes, andone intense or major hurricane.
GRI and IGT Form GTI
GRI and the Institute of Gas Technology (IGT) named theirrecently merged organizations the Gas Technology Institute (GTI)last week and formed a senior management team led by John F.Riordan, president and CEO. The research groups announced theirmerger in April, saying it was mainly an effort to reduceoverlapping dues paid by their members and to combine the variousstrengths of the two entities.