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No Real Problems Seen in Gas Industry’s Y2K Transition

One of the “biggest issues” facing the natural gas industry inthe upcoming year with respect to Y2K will be the readiness of “keyproviders and dependent players,” namely the electricity andtelecommunications industries, said pipeline and LDC officials lastweek.

December 28, 1998

FL LDCs Prepay Williams for Supply

Williams Energy signed a 10-year agreement to supply more than16,000 Dth/d of pre-paid gas to Florida Gas Utility fordistribution to its members, consisting of 15 Florida LDCs.Williams Energy began supplying Florida Gas Utility Dec. 1.Historically, Florida Gas Utility bought gas using short-term (lessthan one month) and medium-term (up to three years) contracts. “Wechose Williams because of its competitive price and most favorablecontract terms,” said Katrina Vaughn, general manager of FloridaGas Utility.

December 22, 1998

GAO Reports on Slow Progress Of Gas Unbundling

A comprehensive report on gas unbundling released by the U.S.General Accounting Office found that as of July 31 of this yearonly about 3.9% of the of the residential gas customers eligible tobuy gas from suppliers other than their regulated gas utility weredoing so. Roughly 553,000 residential gas users behind thecitygates of 43 gas utilities in 16 states were participating incustomer choice programs. Commercial participation levels were notavailable. The report, titled Energy Deregulation: Status ofNatural Gas Customer Choice Programs, was requested by Sens. JeffBingaman (D-NM) and Dale L. Bumpers (D-AK).

December 21, 1998

Chevron Cuts Spending, Expenses

In a move similar to those of its peers, Chevron Corp. announcedit would cut expenses by $500 million next year, including someunspecified staff reductions, and spend about $5.1 billion, 8% lessthan was spent in 1998. Cuts in 1999 capital spending will beaccomplished primarily in the company’s mature North AmericanE&ampP business, as well as in refining and marketing and inchemicals.

December 21, 1998

Houston Industries Wholesale Group Supplies LGS

Houston Industries Wholesale Energy Group, an affiliate ofHouston Lighting & Power, has signed a 10-year contract tosupply up to 50 Bcf to LGS Natural Gas, an affiliate of LouisianaGas Service Co., the largest distributor in the state.

December 18, 1998

GAO Releases Report on Gas Unbundling

A comprehensive report on gas unbundling released by the U.S.General Accounting Office found that as of July 31 of this yearonly about 3.9% of the of the residential gas customers eligible tobuy gas from suppliers other than their regulated gas utility weredoing so. Roughly 553,000 residential gas users behind thecitygates of 43 gas utilities in 16 states were participating incustomer choice programs. Commercial participation levels were notavailable. The report, titled Energy Deregulation: Status ofNatural Gas Customer Choice Programs, was requested by Sens. JeffBingaman (D-NM) and Dale L. Bumpers (D-AK).

December 18, 1998

Aquila to Supply Gas to Maine Plant

UtiliCorp United subsidiary Aquila Energy signed an eight-yearcontract to supply gas to a 265 MW independent power project beingbuilt in Rumford, in the paper processing region of western Maine.The contract is valued at $500 million. The plant is one of thefirst merchant facilities being built without a dedicated ratebase, a trend in the gradual deregulation of electricity. The plantis expected to begin operation some time in 2000.

November 5, 1998

Southern to Manage Brazos Co-op’s Power

Southern Company Energy Marketing signed a five-year deal tomanage Brazos Electric Power Cooperative’s power generation andfuel supplies and deliver 1,650 MW of power to the co-op. Southerncan market the excess power on the open market. The deal alsoobligates Southern to expand the Texas co-op’s generation capacityby 600 MW to satisfy projected load growth, particularly in thearea surrounding Dallas-Fort Worth.

October 28, 1998

Anadarko Predicting 18% Annual Production Growth

Anadarko Petroleum said its annual energy production is expectedto grow at an average rate of 18% per year, from 48 million energyequivalent barrels (EEBs) in 1998 to an estimated 92 million EEBsin 2002. The company said the new production forecast is based ondevelopment of known fields and does not include any newexploration discoveries.

October 22, 1998

TransCanada Inks Its Largest Asset Management Deal

Last week’s agreement by Semco Energy Gas Co. to a three-yeardeal with TransCanada PipeLines Ltd. for management of its gassupply gives TransCanada its largest asset management relationshipto date. Semco also will buy the majority of its gas supplies fromTransCanada for the three years of the agreement, which iseffective April 1, 1999.

October 12, 1998