Unveils

One day after a rival project was announced, Enbridge Inc., part owner of Alliance and Vector pipelines, reported that it is considering constructing the Beacon Pipeline — a 1 Bcf/d pipeline from the Rockies to Chicago. The proposed $1.2 billion, 900-mile pipeline, which was first announced in rough draft form in late June, would come from either the Powder River Basin or Cheyenne, WY to Chicago with a possible northwest extension back to Opal (see Daily GPI, June 27).

Ontario Premier Ernie Eves’ controversial plan to cap electricity prices paid by residential and small business consumers at C4.3 cents through 2006 moved one step closer to becoming a reality last week after the province’s energy minister introduced a bill implementing the proposal.

The Minerals Management Service (MMS) Gulf of Mexico OCS Region on Wednesday introduced an online oil and gas public information database to allow viewing and downloading of public documents on the industry. Available documents will include Well Summary Reports, Sundry Notices, Applications for Permit to Drill, Plans, Pipeline Rights-of-Way Files and Suspensions of Production and Operations.

After half a century as the mainstay of natural gas transportation across Canada, TransCanada PipeLines Ltd. is charting a new course — out to sea, where it aims to launch an armada to serve offshore production projects.

After half a century as the mainstay of natural gas transportation across Canada, TransCanada PipeLines Ltd. is charting a new course — out to sea, where it aims to launch an armada to serve offshore production projects.

As its offshore energy sector grows and sets it further apart from other Canadian provinces, Nova Scotia on Wednesday released a new energy strategy that involves, among other things, establishing a Department of Energy, introducing limited competition for some electric power customers, adding a royalty trust from offshore proceeds and setting new air pollution standards. The strategy also expects “major future benefits” from using natural gas and has set a plan in motion to remove barriers that would allow the new system to operate on a firm commercial basis.

In an effort to bring greater certainty to utilities and power suppliers entering into wholesale power contracts, while at the same time hopefully slashing the amount of litigation that has arisen from those contracts, FERC last Wednesday issued a proposed policy statement that would set a standard of review that must be met in order to justify proposed changes to market-based rate contracts for wholesale sales of electric energy by utilities.

Faced with mounting concerns from investors and credit-rating agencies, energy giant Williams Cos. announced a $3 billion-plus plan last Tuesday to improve the company’s flailing balance sheet over the next 12 months. However, Williams’ strategy drew mixed reactions from the major ratings’ agencies and failed to stem its stock losses.

Seeking to improve market transparency and provide a better means to detect and discourage discriminatory practices, FERC last Wednesday said that it would replace a number of reporting filings currently made by the power industry with a quarterly electronic report, which the Commission believes will equalize reporting requirements for both traditional public utilities and power marketers and make information more easily available to the public.