Under

Cash Swoons Under Weather, Weekend Lethargy

“The Three Stooges didn’t fall as fast or as hard,” one traderremarked, as the usual weekend demand crunch, a bearish 6- to10-day forecast and Thursday’s futures market plunge were cited asreasons for the nearly universal drops of over a nickel. New YorkCitygate prices were among the hardest hit Friday, as Monday’shighpoint of $2.75 has given way to the mid $2.40s at the week’sclose.

June 14, 1999

Transco’s SouthCoast Project Comes Under Fire

Existing shippers on Transcontinental Gas Pipeline haveexpressed widespread opposition to the pipeline’s request to rollin the costs associated with its SouthCoast expansion project inGeorgia and Alabama.

June 7, 1999

ProvGas Touts Cost Recovery Program

Under the “Energize RI” program, Providence Gas Co. (ProvGas)has been awarded $2.45 million by the Rhode Island Public UtilitiesCommission (PUC) for losses attributable to external forces theutility experienced last winter. The original request was grantedby the the PUC’s Division of Public Utilities and Carriers (theDivision) in March but it was subject to PUC approval.

June 7, 1999

ProvGas Touts Cost Recovery Program

Under the “Energize RI” program, Providence Gas Co. (ProvGas)was awarded $2.45 million Wednesday by the Rhode Island PublicUtilities Commission (PUC) for losses attributable to externalforces the utility experienced last winter. The original requestwas granted by the the PUC’s Division of Public Utilities andCarriers (the Division) in March but it was subject to PUCapproval.

June 3, 1999

GAO Report of Utilities’ Y2K Readiness Attacked

A new General Accounting Office (GA0) report concluding that theelectric utilities are lagging behind on Y2K readiness came underfire in industry circles for being based on data that was sixmonths old. The GAO report, which was released last Friday,followed a Senate study of the issue that industry critics contendalso was founded on out-dated, faulty information.

April 20, 1999

BGE Okays Launch of Constellation Energy

BGE shareholders approved the formation of holding companyConstellation Energy Group Inc. Constellation Energy is now set tobe launched May 3, trading under the CEG ticker symbol on the NewYork Stock Exchange. Constellation Energy will be the parentcompany that holds BGE’s common stock and the common stock of allof BGE’s current subsidiaries. BGE will become a sibling to itscurrent subsidiaries and will remain regulated by the MarylandPublic Service Commission.

April 19, 1999

Transportation Note

Replacement of its A-Line north of Stanfield, OR, is keepingKingsgate capacity of PG&E GT-NW limited to 2,250 MMcf/d-370MMcf/d under the April norm-through Friday. Hydrostatic testing ofthe line at Station 6-A will further limit Kinggate to 2,190 MMcf/dApril 19-22.

April 15, 1999

FTC Approves Sempra-KNE Merger

The Sempra Energy-KN Energy merger leaped its first hurdle last Monday, as the Federal Trade Commission (FTC) cleared it under the Hart Scott Rodino Act. Shareholders from both companies as well as other federal and state regulatory authorities still need to approve the deal.

April 12, 1999

FTC Approves Sempra-KNE Merger

The Sempra Energy-KN Energy merger leaped its first hurdleMonday, as the Federal Trade Commission (FTC) cleared it under theHart Scott Rodino Act. Shareholders from both companies as well asother federal and state regulatory authorities still need toapprove the deal.

April 6, 1999

Industry Talks on NOPR, NOI ‘Suspended’

The formal, bi-weekly negotiations on major gas restructuringinitiatives, which had been under way for more than two months,were “suspended” when various industry segments decided that a”unified proposal” wasn’t likely, sources said. This action was nottotally unexpected (See NGI, March 1 issue).

March 15, 1999