FERC’s widely-anticipated move last week to extend price controls on bulk electricity transactions to the entire Western region around the clock blew through Washington with hurricane force, shifting the political winds away from price caps in the Senate. However, just as the volatile issue of price caps began to subside somewhat on Capitol Hill, a new debate emerged in Congress over whether the agency should be more aggressive in ordering generators to provide refunds for overcharges that California Gov. Gray Davis said run into the billions of dollars.
Widely
Articles from Widely
Industry Briefs
Chairman Joe Barton (R-TX) was expected to send out a “discussion draft” of his widely anticipated emergency legislation for California to members of the House Energy and Air Quality Subcommittee late yesterday, which means that it’s “still very open to change,” said Barton press aide Samantha Jordan. While “it’s more likely than not” that Barton will introduce a bill to aid California, “it’s not definite.” If he decides in favor of legislation, she said he will probably come out with it in late April after the congressional recess. Barton would then hold one hearing on the bill and move quickly to mark-up. Barton also is hoping to unveil omnibus energy legislation in the House by late May or early June, Jordan noted, and forward it to the White House by early fall.
Senate Postpones Republican Energy Bill
Sen. Frank Murkowski (R-AK) announced Friday he is putting offintroducing the Senate Republicans’ widely anticipatedcomprehensive energy legislation until the week of Feb. 26, at theearliest.
Senate Postpones Republican Energy Bill
Sen. Frank Murkowski (R-AK) announced Friday he is putting offintroducing the Senate Republicans’ widely anticipatedcomprehensive energy legislation until the week of Feb. 26, at theearliest.
Holiday Weekend Price Changes Are Widely Varied
The Christmas weekend market was a true hodgepodge of pricemovement. Friday’s changes ranged from more than $2 lower in theNorthern Natural Gas market area, despite a pipeline OFO still ineffect after nearly two weeks, to more than $2 higher in both ofTransco’s Zone 6 pools. Other points were arrayed at variouspositions in between, but most were flat to 20 cents down.
Powder River Basin Drilling Gathers Strength
The Powder River Basin, which is known widely for its coal-bedmethane (CBM) gas production, is without a doubt the “most active”onshore basin in the Lower 48, and will likely hold thisdistinction for a long time to come, according to a majorgatherer-processor in the basin.
Powder River Takes the Lead in Drilling Activity
The Powder River Basin, which is known widely for its coal-bedmethane (CBM) gas production, is without a doubt the “most active”onshore basin in the Lower 48, and will likely hold thisdistinction for a long time to come, according to a majorgatherer-processor in the basin.
Neighbors FirstEnergy, GPU, Combine
Surprise! FirstEnergy of Akron, OH and Morristown, NJ-based GPUInc. formally announced that Monday’s widely circulated and detailedrumors of a merger were indeed true (see Daily GPI, Aug. 8). In meetings yesterday, bothcompanies’ boards of directors unanimously approved the merger underwhich FirstEnergy would acquire all of GPU’s outstanding shares ofcommon stock for about $4.5 billion in cash and common stock.
INGAA: It Will Be Tough to Meet a 30 Tcf Market
A 30 Tcf market is “widely anticipated and economicallypossible” by 2010, but it will not be achieved easily as allsegments of the natural gas industry will face considerablefinancial and infrastructure challenges to help supply and servethat demand, said a study issued by the INGAA Foundation Inc. onMonday.
Industry Awaits Outcome of Exxon, Mobil Merger Talks
An announcement of the outcome of the merger talks between ExxonCorp. and Mobil Corp. is widely expected to occur today, with mostexpert industry-watchers anticipating the two energy behemoths willproduce a definitive deal, while a few say it’s still too close tocall.