The New Jersey Board of Public Utilities (BPU) earlier this weekapproved a comprehensive agreement with New Jersey Resources (NJR),parent of New Jersey Natural Gas (NJNG), that would put it on afast-track to provide supplier choice to its residential customersby Jan. 1.
Week
Articles from Week
Prices Show Little Indication of New Direction
Prices began the week with a mixed performance Monday. Flatnesswas dominant at most points, with small drops outweighing smallgains at others. Mild weather throughout much of the nation lent nofundamental support to gas demand. However, sources saw a goodchance for at least modest increases today based on Monday’sfutures uptick.
FPL to Add 2,500 MW of Gas-Fired Generation
Florida Power & Light Co. announced plans last week toaccelerate by one year an expansion of its power generating system.The expansion will take place in phases with the first phase beingcompleted in 2001. In total, the expansion will add 2,500 MW of newgas-fired generation capacity at three power plant locations overthe next eight years with the majority coming on line by 2003.
UPR Makes Another De-Leveraging Sale
Union Pacific Resources Group (UPR) continues to march aheadwith its de-leveraging program, announcing last week that it agreedto sell interests in certain South Texas oil and gas properties toCollins & Ware Inc. for $148 million. The sale is scheduled toclose Oct. 30, subject to conditions, with an effective date ofSept. 1.
Another Power Marketer Bites the Dust
New York-based York Research Corp. announced this week it plansto exit the power marketing business following the pricing turmoilin the Midwest electricity market this summer, making it about theeighth or ninth marketer to take this action.
CPUC Tries to Save Gas Restructuring
California energy regulators, all appointees of outgoing Gov.Pete Wilson, last week requested a meeting after Labor Day with thegovernor in an attempt to head off new state legislation that couldfurther hinder ongoing attempts to streamline regulation and injectmore competition into the natural gas industry. The president ofthe California Public Utilities Commission calls one of the bills”truly anti-competitive.”
Viking Proposes Series of Expansions
Viking Gas Transmission last week proposed plans for a 45-mile,28 MMcf/d looping of its existing system in northwestern andcentral Minnesota in 1999. This is “a smaller project matched tomeet incremental market demand,” said Viking Gas President GregoryH. Palmer, but he noted it’s the first of a series of expansionsthe pipeline plans to carry out over the next couple of years.
Prices Soar on Gulf Storm Shut-Ins, Western Heat
Last week gas buyers were pooh-poohing the “hurricane hype” theyhad been hearing earlier about Tropical Storm Charley. Well, sorry,Charley, you may have been a small fish when it came to impactinggas production, but Earl is the real thing.
Natural’s Negotiated-Rate Plan ‘Premature’
FERC earlier this week rejected Natural Gas Pipeline Company ofAmerica’s (NGPL) proposal to implement negotiated rates on itssystem, saying that such a move would be “premature” until it couldact on the pipeline’s proposed auction procedures that are pendingas part of a comprehensive settlement.
Rehearing of EDI Rules Sought by Gas Groups
Four major gas associations last week urged FERC to reconsider”as soon as possible” an April rule requiring interstate pipelinesto conduct electronic communication using only electronic datainterchange (EDI) over the Internet by June 1, 1999.