Units

Allegheny Energy Inc. last Monday said that its subsidiaries, Allegheny Energy Supply Co. LLC and Allegheny Generating Co., have received waivers from bank lenders under their syndicated credit agreements that extend through Nov 29.

Citing necessary maintenance on the #3 and #4 compressor units at the Custer OK Station, Reliant limited capacity on Line 2 Monday to 110,000 Dth/day. The work is expected to be completed by the start of Friday’s gas day.

Duke Energy Corp., which employs close to 500 energy traders and support staff, is expected to follow the route of its fellow energy merchants and cut its trade staff, citing less business. Also as expected, UBS Warburg will cut about 20% of its 600-member trading staff, and may lay off even more employees in the near future.

Standard & Poor’s lowered the corporate credit rating on CMS Energy Corp.’s subsidiaries utility and pipeline subsidiaries, Consumers Energy Co. and CMS Panhandle Pipeline Cos, to double-‘B’, which is in line with the ratings of the parent company. S&P also lowered the senior unsecured rating on CMS Energy to single-‘B’-plus and removed all the ratings of CMS and its subsidiaries from CreditWatch with negative implications. The outlook for the company is still negative.

Standard & Poor’s lowered the corporate credit rating on CMS Energy Corp.’s subsidiaries utility and pipeline subsidiaries, Consumers Energy Co. and CMS Panhandle Pipeline Cos, to double-‘B’, which is in line with the ratings of the parent company. S&P also lowered the senior unsecured rating on CMS Energy to single-‘B’-plus and removed all the ratings of CMS and its subsidiaries from CreditWatch with negative implications. The outlook for the company is still negative.

El Paso had scheduled its Alamo Lake Station to be down Jan. 31 to change inlet scrubber and fuel filters. But because the units have tripped several times recently, the project has been accelerated to occur Friday. It will reduce capacity of the Havasu Crossover by 150 MMcf/d. The work will coincide with a scheduled outage of Line 1208 on the North Mainline to mitigate overall impact.

Third-quarter financial and operating results for natural gas and power companies indicate a continued — but slowing — surge in income increases from non-regulated activities, compared to earlier in the year, according to a survey by Energy Performance Review (EPR). While 3Q earnings for natural gas and power marketing and power generation were up about 50% from the same period last year, nine-month earnings, led by first quarter results, were up closer to 75%. Natural gas distribution earnings showed a greater seasonal loss this third quarter, compared to last, while electricity distribution gained slightly over last year’s 3Q.

Third-quarter financial and operating results for 118 natural gas and power companies indicate a continued, but slowing surge in income increases compared to earlier in the year from non-regulated activities, according to a survey by Energy Performance Review (EPR). While 3Q earnings were up about 50% from the same period last year, nine-month earnings, led by first quarter results, were up closer to 75%.

Vancouver-based Epic Oil and Gas Ltd. said Thursday that AEC Storage and Hub Services Inc., a subsidiary of Alberta Energy Co. Ltd., has given notice to Epic’s U.S. subsidiaries Rival Resources Inc. and American Safari Resources Inc. that it is terminating its letter of agreement on the Birch Bay Gas Storage Project in northwest Washington State.