Merrill Lynch urged investors in energy marketing stocks to”proceed with caution” during this period of “finger pointing” inCalifornia. “Outrageous claims and ignorance appear to be thethemes of the day,” the Wall Street analysts said in a bulletintitled “Santa Claus, the Tooth Fairy and Leprechauns Do Exist -Just Ask California.”
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As one of his first acts as president, Sen. Pete Domenici (R-NM)has called on President George W. Bush to order the three federalagencies that have jurisdiction over U.S. energy supply to craftcoordinated policies to address the energy crisis facing thenation.
As one of his first acts as president, Sen. Pete Domenici (R-NM)has called on President-elect George W. Bush to order the threefederal agencies that have jurisdiction over U.S. energy supply tocraft coordinated policies to address the energy crisis facing thenation.
Reliant Energy urged FERC on Friday not to force the financialuncertainty of the near-bankrupt California electric utilities onsuppliers across the entire western region by relaxing the creditprovisions of the Cal-ISO tariff. Reliant made an emergency filingwith the FERC, seeking a stay of such efforts.
The California Chamber of Commerce and the state’s BusinessRoundtable have urged the California Public Utilities Commission(CPUC) to “allow retail rates to at least moderately reflectwholesale rates,” in order to keep the state’s utilities inbusiness and assure “the lights will stay on.”
Power sellers have urged FERC to reject two complaints that seekto void a $6,000/MWh bid for imported electricity that was used toset the market clearing price in the New England Independent SystemOperator for five hours last May 8.
Armed with a “smoking gun” discovered in just-released data, theCalifornia Public Utilities Commission (CPUC) has launched a freshoffensive against El Paso Natural Gas’ 1.22 Bcf/d transportationcontract arrangement with affiliate El Paso Merchant Energy.
Electric generation’s growing appetite for natural gas ispropelling rapid changes in the gas industry’s traditional businesspractices that will pose greater challenges to pipeline safety,says the chairman of the INGAA Pipeline Safety Task Force.
Natural gas pipelines have come a long way in their effort toprotect the public and environment from the potential threats posedby their systems, but the journey is far from over, says a keypipeline safety official with the Department of Transportation(DOT).