Dominion issued what it called an “FTNN Hourly Limit OFO” advisory Thursday, saying it has determined that based upon current and forecasted weather, hourly quantities delivered to customers at several Mid-Atlantic delivery areas may exceed what it can deliver without jeopardizing its ability to provide firm services to other customers. “Each affected customer will take whatever action it may deem appropriate, including notification of IT shippers at affected delivery points,” the pipeline said. Dominion said it was providing four hours’ advance notice that it may issue an OFO requiring customers to limit delivery fluctuations to the designated areas within one hour. The customers on the PL-1 system in the southern portion of Dominion’s operating area that are impacted by the OFO until further notice are Baltimore Gas & Electric, Washington Gas Light, Quantico, Virginia Natural Gas, Doswell Meter, Virginia Power and the City of Richmond, VA. Dominion took similar action earlier this week for seven utility customers in New York state (see Daily GPI, Jan. 24). See the bulletin board for further OFO details.
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Transportation Notes
Dominion said it has determined, based upon current and forecasted weather, that hourly quantities delivered to customers at seven delivery areas in New York (Corning Natural Gas, New York State Electric & Gas, Rochester Gas & Electric, Niagara Mohawk, Niagara Mohawk East Gate, Fillmore Gas and National Fuel Gas Distribution) may exceed what it can deliver without jeopardizing its ability to provide firm services to other customers. Each affected customer “will take whatever action it may deem appropriate, including notification of IT shippers” at affected delivery points, Dominion said. The pipeline said Tuesday it was providing four hours of advance notice that it may issue an OFO that would require customers to limit delivery fluctuations to the areas within one hour. See the bulletin board for other information on the potential OFO.
Venture Capitalists See Energy as Hot Investment in 2007
Venture capitalists, which found energy an attractive investment during 2006, are expected to look favorably upon the sector again in the New Year, according to the results of a survey released by the National Venture Capital Association (NVCA) last Monday.
Venture Capitalists See Energy as Hot Investment in 2007
Venture capitalists, which found energy an attractive investment during 2006, are expected to look favorably upon the sector again in the New Year, according to the results of a survey released by the National Venture Capital Association (NVCA) Monday.
Industry Briefs
Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. said Monday that upon regulatory approval their combined company will be named Integrys. “In Integrys, we have a name that reflects our commitment to open and honest business practices, prudent decision-making and a strong financial foundation,” said WPS CEO Larry L. Weyers, who will be CEO of the new company. “These values will support the integration of the two companies and help us achieve our vision of becoming a stronger and more competitive, diversified energy company. Integrys also conveys the core values of our combined company.” The new parent company will be listed on the New York Stock Exchange under the ticker symbol TEG. The energy marketing subsidiary will be called Integrys Energy Services Inc. The names of the operating subsidiaries will not change: Wisconsin Public Service Corp., Upper Peninsula Power Co., Michigan Gas Utilities, Minnesota Energy Resources, Peoples Gas, and North Shore Gas. The merger is expected to close in the first quarter of 2007. The companies announced the signing of a definitive merger agreement on July 10. The pairing of WPS and Peoples will bring together 1.6 million gas customers and 477,000 electric customers.
Industry Briefs
Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. said Monday that upon regulatory approval their combined company will be named Integrys. “In Integrys, we have a name that reflects our commitment to open and honest business practices, prudent decision-making and a strong financial foundation,” said WPS CEO Larry L. Weyers, who will be CEO of the new company. “These values will support the integration of the two companies and help us achieve our vision of becoming a stronger and more competitive, diversified energy company. Integrys also conveys the core values of our combined company.” The new parent company will be listed on the New York Stock Exchange under the ticker symbol TEG. The energy marketing subsidiary will be called Integrys Energy Services Inc. The names of the operating subsidiaries will not change: Wisconsin Public Service Corp., Upper Peninsula Power Co., Michigan Gas Utilities, Minnesota Energy Resources, Peoples Gas, and North Shore Gas. The merger is expected to close in the first quarter of 2007. The companies announced the signing of a definitive merger agreement on July 10. The pairing of WPS and Peoples will bring together 1.6 million gas customers and 477,000 electric customers.
Fastow Asks Court to Go Easy on Him
As the day of reckoning arrives this week for ex-Enron Corp. CFO Andrew Fastow, his lawyers hope the judge looks kindly upon a sentencing recommendation requesting leniency. Fastow is to be sentenced to up to 10 years in prison on Tuesday.
What Heat Wave? Natural Gas Futures Drop 56.4 Cents
In spite of the sizzling heat wave that has descended upon the U.S. this week, natural gas futures on Monday departed from the last week’s upswing to explore lower price levels once again. August natural gas plummeted below the psychological $6 support level in Monday’s regular session to settle at $5.783, down a whopping 56.4 cents from Friday.
NGI The Weekly Gas Market Report
FERC Proposes to Expand Scope of Blanket Certificate Rules
At a meeting where natural gas dominated the agency’s agenda, FERC last Thursday looked favorably upon industry’s request for permanent regulatory and policy changes to promote the construction of interstate natural gas pipeline mainline expansions, certain storage facilities and takeaway facilities for liquefied natural gas (LNG) import terminals.
FERC Expands Scope of Blanket Certificate Rules
At a meeting where natural gas dominated the agency’s agenda, FERC on Thursday looked favorably upon industry’s request for permanent regulatory and policy changes to spur the construction of interstate natural gas pipeline mainline expansions, new storage capacity and takeaway facilities for liquefied natural gas (LNG) import terminals.
