Unregulated

Despite the impact of “unfavorable weather” on its regulated electric utility operations, higher contributions from that segment, the gas transmission segment and the unregulated retail energy marketing segment helped catapult Dominion’s 3Q2009 earnings 17% above the year-ago quarter.

Despite the impact of “unfavorable weather” on its regulated electric utility operations, higher contributions from that segment, the gas transmission segment and the unregulated retail energy marketing segment helped catapult Dominion’s 3Q2009 earnings 17% above the year-ago quarter.

The Senate Thursday approved a bipartisan measure that would increase federal oversight of trading on currently unregulated electronic energy platforms, such as Atlanta-based IntercontinentalExchange (ICE). The proposal is part of the reauthorization of the Commodity Futures Modernization Act, which was folded into the $288 billion farm bill (HR 2419) that passed 79-14 Friday.

The Senate last Thursday approved a bipartisan measure that would increase federal oversight authority of trading on currently unregulated electronic energy platforms, such as Atlanta-based IntercontinentalExchange (ICE). The proposal is part of the reauthorization of the Commodity Futures Modernization Act, which was folded into the $288 billion farm bill (HR 2419) that was passed Friday.

Sen. Carl Levin (D-MI) last Monday said he and several other senators are drafting legislation to be debated in the fall that would subject unregulated electronic energy trading platforms, such as Atlanta-based IntercontinentalExchange (ICE), to the oversight of the Commodity Futures Trading Commission (CFTC). The CFTC also announced that it will hold a September hearing to review its level of regulation in energy markets.

Sen. Carl Levin (D-MI) Monday said he and several other senators are drafting legislation to be debated in the fall that would subject all currently unregulated electronic energy trading platforms, such as Atlanta-based IntercontinentalExchange (ICE), to the oversight of the Commodity Futures Trading Commission (CFTC).

Northeast Utilities (NU) said Tuesday it has followed through on plans announced last fall to exit the unregulated retail energy marketing business to focus on regulated utility operations. NU subsidiary Select Energy Inc. is selling its retail gas and power marketing business, including its wholly-owned subsidiary Select Energy New York Inc., to Amerada Hess. The sale is expected to close by June 1.

Sixty percent of the active retail gas sales plans offered by unregulated retail marketers in Illinois are bad deals that would have cost customers more money than sticking with their state utility supplier, according to an analysis done by the Citizens Utility Board (CUB), a state watchdog group created by the state legislature.

Noting it would take a “small loss” on the deal, Xcel Energy announced Thursday it has reached an agreement to sell its unregulated, Denver-based Utility Engineering Corp. (UE) subsidiary to Zachry Group Inc., a San Antonio, TX-based contractor. The parties did not make the terms of the sale public. It is expected to close next month.