Unload

After agreeing to unload its electric subsidiary last week to OrionPower Holdings for about $200 million plus the assumption of debt,Columbia Energy Group announced that it has found a buyer for itselectric subsidiary’s interests in four power generation QualifyingFacilities (QF). The interests, which were excluded from the Oriondeal, will be sold to a partnership between Morristown, NJ,-basedDelta Power Co. and John Hancock Life Insurance for an undisclosedamount (see Daily GPI, Oct. 3).

Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.

Less than one month after announcing the sale of its Cove PointLNG facilities to Williams for $150 million, Columbia already isputting more assets on the block. It has decided to sell ColumbiaPropane Corp. and Columbia Petroleum.

Butte-based Montana Power made the expected decision last weekto give its stock a chance to trade among the telecommunicationsand technology giants rather than the languishing energy utilitysector. The company announced a bold plan to reinvent itself bydivesting $1.5 billion in regulated and unregulated energy assetsand shifting its focus on current subsidiary Touch America, itsthriving telecommunications business.

Reliant Energy’s increased focus on the non-regulated side ofthe energy business has apparently made the former pipeline anddistribution assets of NorAm Energy no longer attractive to thecompany. Reliant said last week it hired an investment banking firmto evaluate strategic alternatives for two of its gas distributioncompanies and its gas pipeline operations.

Reliant Energy’s increased focus on the non-regulated side ofthe energy business has apparently made the former pipeline anddistribution assets of subsidiary NorAm Energy no longer attractiveto the company. Reliant said last week it hired an investmentbanking firm to evaluate strategic alternatives for two of its gasdistribution companies and its gas pipeline operations.