Units

Yankee Energy System, part of the Northeast Utilities system, has completed the divestiture of several non-regulated energy development businesses.

While ONEOK’s energy marketing and trading and production units prospered in the second quarter, gathering and processing suffered as a result of lower processing spreads, cutting net income to $23.6 million or 20 cents per diluted share, compared to $27.2 million or 23 cents per diluted share for the same period a year ago.

The Northeast may be getting another high deliverability salt cavern gas storage project. El Paso Corp. and GDF Energy Inc., a subsidiary of Gaz de France, are holding an open season for a proposed storage facility in Schuyler County, NY, where Energy East subsidiaries already have one bedded salt cavern facility operating and another planned.

The Northeast may be getting another high deliverability salt cavern gas storage project. El Paso Corp. and GDF Energy Inc., a subsidiary of Gaz de France, are holding an open season for a proposed storage facility in Schuyler County, NY, where Energy East subsidiaries already have one bedded salt cavern facility operating and another planned.

Units of Exelon and Peoples Energy announced that they will jointly develop and operate a 350 MW, natural gas-fired peaker electric plant on Chicago’s southeast side. The plant will provide electricity to the city in periods of high electric demand. Exelon’s wholesale power marketing division, Power Team, will market the energy output of the plant for its affiliate Exelon Generation. Peoples Energy Resources, a subsidiary of Peoples Energy, will provide fuel procurement. The plant will operate only during periods of peak electricity use and emergencies to help ensure reliability of the local and regional electricity supply. Also, eight General Electric turbines, equipped with dry, low NOx burner coal technology to reduce emissions, will be installed. Construction of the plant will take about 10 months and it is targeted to begin operations in late spring 2002.

Executives of companies looking to increase the use of small electric generation units known as microturbines last week sought to promote some of the nascent technology’s benefits, including a minimal amount of maintenance and the ability to make use of heat-generated energy that would otherwise go to waste.

Executives with companies looking to increase the use of small electric generation units known as microturbines yesterday sought to promote some of the nascent technology’s benefits, including a minimal amount of maintenance and the ability to make use of heat-generated energy that would otherwise go to waste.

While power outages were still viewed as an inevitability thissummer in California, a comprehensive legislative, regulatory andcommercial solution to mounting energy debts was less certain lastweek as reports surfaced that creditors might force bankruptcy onthe state’s two ailing utilities.

Koch Gateway is performing both scheduled and unscheduledmaintenance at its Jackson (MS) Compressor Station. Work on units#3 and #4 has been completed, unit #2 will remain unavailable untilDec. 10, reducing station capacity by 75 MMcf/d.