In yet another short in the long unraveling wires holding Enron Corp. together, the bankrupt company and UBS Warburg on Monday delayed the official announcement of a transaction that would send Enron’s energy wholesale unit into the hands of the Swiss-based investment banking conglomerate. The transaction, set to be announced first Monday morning and then the afternoon, was instead moved to 11 p.m. EST Monday night.
Wires
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California Agrees to Buy SDG&E’s Wires
Conceding that federal regulators belatedly have taken steps to offer wholesale power price relief, California Gov. Gray Davis last week announced an agreement with Sempra Energy’s San Diego Gas and Electric Co. that wipes out a $740 million debt the utility was facing for uncovered wholesale electricity costs. The state will buy SDG&E’s transmission lines for just under $1 billion, or 2.3 times book value, and commit to provide all of its native generation to the state on a cost-based, below-market basis.
CA in Deal to Buy SDG&E Wires
Conceding that federal regulators belatedly have taken steps to offer wholesale power price relief, California Gov. Gray Davis Monday announced an agreement with Sempra Energy’s San Diego Gas and Electric Co. that wipes out a $740 million debt the utility was facing for uncovered wholesale electricity costs. The state will buy SDG&E’s transmission lines for just under $1 billion, or 2.3 times book value, and commit to provide all of its native generation to the state on a cost-based, below-market basis.
Pepco Preps for Competitive Power Market in D.C.
Potomac Electric Power Co.’s (Pepco) strategy of getting out ofpower generation, focusing on its wires and distribution businessesand emphasizing its non-regulated side is in full swing, says theutility’s top executive.
Pepco Preps for Competitive Power Market in D.C.
Potomac Electric Power Co.’s (Pepco) strategy of getting out ofpower generation, focusing on its wires and distribution businessesand emphasizing its non-regulated side is in full swing, says theutility’s top executive.
Sempra Expanding Distribution in Non-Traditional Areas
Sempra Energy is banking on a belief in the traditionalregulated pipes and wires business, but with a couple new twists.The holding company for San Diego Gas & Electric and SouthernCalifornia Gas is literally breaking new ground in North America,while buying into established utilities as far south as theSouthern Cone of South America.
Sempra Expanding Traditional Business in Non-Traditional Areas
Sempra Energy is banking on a belief in the traditionalregulated pipes and wires business but with a couple of new twists.The holding company for San Diego Gas & Electric and SouthernCalifornia Gas is literally breaking new ground in North America,while buying into established utilities as far south as theSouthern Cone of South America.