The pending merger of American Electric Power (AEP) of Columbus,OH, and Central and South West Corp. of Dallas, TX, receivedantitrust clearance from the Department of Justice. Approvals thatremain include the Federal Energy Regulatory Commission (FERC), theFederal Communications Commission (FCC) and the Securities andExchange Commission (SEC). Upon completion of the merger, the newcompany will be called American Electric Power.
West
Articles from West
Transportation Notes
Tennessee reported Tuesday it had identified a minor valve leakon its 200 Line #2 near Main Line Valve 259 (West Granville, MA).Adverse weather is preventing repairs temporarily, Tennessee said,but it expects to make them Thursday. No nominations or schedulingcuts are anticipated before repairs begin, the pipeline said, butit may be required to limit meters downstream of Station 254 toprimary services for Thursday’s gas day.
El Paso Selling Sea Robin to CMS
El Paso Energy Corp. is selling Sea Robin Pipeline Co., a 1Bcf/d gas and condensate pipeline in the Gulf of Mexico offshoreLouisiana, to CMS Trunkline Gas Co., a subsidiary of CMS Energy.The system is west of Trunkline’s existing Terrebonne system. Thisacquisition is another stage in CMS Energy’s North American energyintegration strategy announced in March as part of the PanhandlePipe Line Companies acquisition. The sale of the asset by El Pasowas required by the FTC for approval of the company’s merger withSonat.
BP-Amoco-Arco Deal Closely Screened by States
Three West Coast states are coordinating their efforts with theFederal Trade Commission to resolve the antitrust problemsassociated with BP-Amoco’s acquisition of Atlantic Richfield. Inthe event the issues can’t be worked out, the states said they willbring a lawsuit to block the $26 billion marriage.
Avista Re-Directs Energy Trading Focus
Avista Energy, Avista Corp.’s trading and marketing affiliate,has decided to head west to find its fortune. The unit announced achange of corporate direction last week and will now embark on awestern-region based energy marketing and trading effort as opposedto its former national focus.
Avista Re-Directs Energy Trading Focus
Avista Energy, Avista Corp.’s trading and marketing affiliate,has decided to head west to find its fortune. The unit announced achange of corporate direction yesterday and will now embark on awestern-region based energy marketing and trading effort, asopposed to its former national focus.
Spot Market Continues to Fall Except in West
Mild weather and a weak futures screen combined to drop cashprices early for the second straight trading session yesterday. Butunlike last Friday, there was no late rally in the futures screento spark an afternoon rebound. The Northeast and Midcontinentexperienced the most significant drops, with many points in the tworegions falling more than a dime. Some western points avoided thegeneral weakness, with PG&E climbing almost a dime and theSoCal Border and Opal rising a few cents.
Northeast Gains, West Drops Stand Out in Flat Market
The cash market closed out last week on a somewhat balancednote, with new upticks of a nickel or more in the Northeast arrayedagainst drops between a nickel and a dime at western points. Inbetween there was a vast sea of mostly flatness.
Transportation Notes
Transwestern said the failure of a compressor unit at Station 4(Apache County, AZ) has lowered West of Thoreau capacity from850,000 MMbtu/d to about 750,000 MMbtu/d. The unit is expected toreturn to service Sunday.
Transportation Notes
Koch Gateway has planned maintenance for today and Friday forits Index 129 segment (West 30-inch mainline in East Texas). Exceptfor gas received and delivered south of Mile Post 98.33 (Koch’sColorado River crossing near the Wharton/Fort Bend County line),all other receipts south of 98.33 will be scheduled to zero.However, at shippers’ request, up to a total of 233,000 MMBtu/d ofdeliveries (the pipeline’s total firm obligation from the area)will be kept whole.