Acting in concert with a stay issued by the InteriorDepartment’s Office of Hearings and Appeals, the Federal EnergyRegulatory Commission has ordered Southern Natural Gas to stop itsrecently-begun construction work in a wildlife preserve along itsmainline expansion route into northern Alabama.
With
Articles from With
Aquila Affiliate Takes $1.7 M Charge, Cuts 60 Employees
Citing a restructuring plan formulated to deal with poor 1998earnings, Aquila Energy’s Aquila Gas Pipeline Corp. (AQP)announced Tuesday it will cut 60 people from its staff of 310. Thecuts will inflict a $1.7 million pre tax charge on the company’searnings.
‘Groundhog Day’ Market: Same Place Every Morning
The usual demand fall-off associated with a holiday weekendfailed to prevent Friday’s cash market from rejecting the slightlysofter trend that had appeared to be developing Thursday. Insteadthe long-lasting trend of little to no price movement reasserteditself at nearly all points. A Western source said recent tradinghas been “like that movie Groundhog Day, because every morning Iwake up and the market is at the same place. The only difference isAndie McDowell [Bill Murray’s female co-star in the movie] has yetto show up.”
Once More, With Feeling: Gas Prices Are Flat
Like the “Row, row, row your boat” verse that repeats over andover, cash prices repeated their flat trading pattern Tuesday forthe umpteenth time in 1999. Several points made small gains of 1-3cents, likely deriving their modest firmness from a similar rise onthe futures screen.
Houston Industries Becomes Reliant Energy
Houston Industries said last week it will meet the deregulatingenergy industry with a new name, Reliant Energy, which will begintrading under its new ticker symbol (NYSE:REI) Feb. 8.
Canada’s SRI to Buy Hornet of Calgary
SRI Oil & Gas Ltd., a private Montreal company, agreed withCalgary-based Hornet Oil & Gas Ltd. to acquire all outstandingshares of Hornet in exchange for SRI shares. SRI already owns 11.8%of private company Hornet’s common shares. It is estimated about1,650,000 common shares of SRI will be issued in the event theoffer is successful. The exchange ratio will be based on the netvalue of each entity Dec. 31, 1998.
TriState Project Filed with NEB
Westcoast Energy said its subsidiary St. Clair Pipelinessubmitted an application to Canada’s National Energy Board forconstruction of the Canadian portion of the TriState PipelineProject. The project would provide 450 MMcf/d of new firmtransportation capacity from the Chicago Hub through Indiana andMichigan to the Dawn Hub in Ontario. Project partner CMS Energyfiled an application for the U.S. portion in November of last year.Westcoast has a 33.3% stake in TriState.
Briefs
South Jersey Gas Co. has signed an agreement with WeatherwiseUSA allowing the New Jersey LDC to offer its retail gas customers aWeatherProof Bill. The bill, which is based on historical gas usepatterns, utility rates, average temperatures, and administrativecosts, fixes a customer’s total gas costs for 12 months withouthigh settle-up charges to cover any excess gas use.
Westcoast Files TriState with NEB
Westcoast Energy said its subsidiary St. Clair Pipelinessubmitted an application to Canada’s National Energy Board forconstruction of the Canadian portion of the TriState PipelineProject, which would provide 450 MMcf/d of new firm transportationcapacity from the Chicago Hub through Indiana and Michigan to theDawn Hub in Ontario. Project partner CMS Energy filed anapplication for the U.S. portion in November of last year.Westcoast has a 33.3% stake in TriState.
Duke Leases South Bay Power Plant
Duke Energy Power Services (DEPS) has signed a 10-year leasewith the Port of San Diego to operate and eventually replace the706 MW South Bay Power Plant located just south of San Diego in thecity of Chula Vista.