Voted

The Federal Energy Regulatory Commission voted out a final rule Wednesday that will require regulated natural gas and electric companies to provide full disclosure to the agency about their use of derivative instruments for hedging and trading activities. By its action, the Commission said it hopes to keep closer tabs on an energy industry that has been rocked by numerous scandals during the past year.

The Federal Energy Regulatory Commission voted Wednesday to push back the planned conversion on El Paso Natural Gas of full requirements (FR) service to contract demand (CD) service from Nov. 1, 2002 to May 1, 2003, allowing existing CD shippers whose transportation capacity may be subject to continuing pro rata cuts to receive demand charge credits in the interim period.

The House last week voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator (Cal-ISO) to speed up creation of day-ahead and ancillary services markets to Jan. 1, 2003, reform its governing board and get ready for the FERC personnel who will be installed in the Cal-ISO operations center.

The House late Wednesday voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

The House late Wednesday voted overwhelmingly to approve an amendment to an Interior Department spending bill that would block new oil and natural gas drilling on 36 disputed leases off the central coast of California.

FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator to speed up creation of a day-ahead and ancillary services markets to Jan. 1, 2003, and that FERC personnel would be installed in the Cal-ISO operations center.

FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator to speed up creation of a day-ahead and ancillary services markets to Jan. 1, 2003, and that FERC personnel would be installed in the Cal-ISO operations center.

The Senate Environment and Public Works Committee last Thursday voted out legislation that seeks to cut emissions of power plant pollutants, but several lawmakers predicted that the bill, S. 556, will not be able to muster the votes needed to pass the full Senate. They voiced concerns that it would result in dramatic fuel switching to natural gas, which they charged could threaten the reliability of the nation’s electric power system.