Troubled

In an effort to protect jurisdictional companies from having their cash funds siphoned off by parent firms facing bankruptcy or other financial troubles, the Federal Energy Regulatory Commission last week proposed a rule that would set limits on the involvement of regulated public utilities and natural gas and oil pipelines in intra-corporate cash management programs, or money pools.

In an effort to protect jurisdictional companies from having their cash funds siphoned off by parent firms facing bankruptcy or other financial troubles, the Federal Energy Regulatory Commission last week proposed a rule that would set limits on the involvement of regulated public utilities and natural gas and oil pipelines in intra-corporate cash management programs, or money pools.

Enron Corp. was still not talking Monday, but the questions continue nonetheless about the troubled energy trading giant’s future. Is it — or parts of it — for sale? Is a takeover in sight? Is Chairman and CEO Kenneth L. Lay, most responsible for Enron’s meteoric rise from pipeline company to global trading giant, about to resign? There were no answers, only rumors Monday. But Fitch, a credit ratings service, downgraded the Houston-based corporation once again, and warned of even more downgrades if Enron fails to reduce its debt. Fitch advised Enron to consider selling some of its assets.

Emergency legislation designed to provide relief to the troubled California wholesale energy markets could get consideration by the full House Energy and Commerce Committee this week, a Capitol Hill staffer told NGI last week.

Emergency legislation designed to provide relief to the troubled California wholesale energy markets could get consideration by the full House Energy and Commerce Committee as early as next week, a Capitol Hill staffer told NGI yesterday.

A majority of those surveyed believe that California’s troubled energy situation will continue to deteriorate in the short-term and that the state’s ongoing woes will prove to be a drag on the national economy, according to Americans for Balanced Energy Choices (ABEC).

A majority of Americans who responded to a recent nationwide poll believe that California’s troubled energy situation will continue to deteriorate in the short-term and that the state’s ongoing woes will prove to be a drag on the national economy, according to Americans for Balanced Energy Choices (ABEC).

Rep. Joe Barton (R-TX) plans to release to the public today his emergency legislation that seeks to provide relief to the troubled California wholesale energy markets in the short term.

A group representing qualifying facility (QF) generators has called on FERC to immediately order California’s two troubled investor-owned utilities to provide “interconnection, scheduling, transmission and related services” to QF plants in California, and to “cease and desist” from carrying out actions that are blocking sales of QF power.