After engaging in a Northeast LDC eating binge last year, EnergyEast Corp. started the digestion phase of its strategy yesterday byannouncing the completion of its Connecticut Energy purchase. Thetransaction gives Energy East control over Southern Connecticut GasCo., an LDC serving 160,000 customers. The original purchase offerwas made last April for $617 million. Energy East (formerly knownas NYSEG) still has a full plate, however, as its transactions withCTG Resources, CMP Energy and Berkshire Energy are still beingprocessed. Following the completion of all the acquisitions, EnergyEast will have more than 1.3 million electric customers and morethan 542,000 gas customers, excluding any added through CMP NaturalGas, the Maine gas distribution partnership of Energy East and CMP.With CTG and Connecticut Energy, Energy East becomes the largestgas distributor in the state with about 300,000 customers.
Year
Articles from Year
NGPL Internet Auctions Moving Closer to Reality
Kinder Morgan’s Natural Gas Pipeline Company of America (NGPL)moved a step closer to fulfilling its year-and-a-half-old promiseto FERC yesterday, with the announcement that Akili, an e-businesscompany, has moved into an application and development phase of theonline capacity auction project for the pipeline system. The targetcompletion date of the auction application is mid-March, Akilisaid.
Panhandle Inks Supply Deal with FirstEnergy
Thanks to a new deal with CMS Energy’s Panhandle EasternPipeline Co., three FirstEnergy gas turbines in Defiance, OH, willenjoy a 15-year supply of gas. The agreement makes FirstEnergyPanhandle’s seventh power plant customer.
El Paso Managing Assets for Boston Gas
El Paso Merchant Energy Co. made a three-year asset managementagreement with Boston Gas Co., a subsidiary of Eastern Enterpriseseffective Nov. 1, 1999. El Paso will provide gas supply managementto Boston Gas and affiliated LDCs Colonial Gas Co. and Essex GasCo. Service includes arranging gas supply, managing interstatetransportation, and optimizing underground storage. Massachusetts’Department of Telecommunications and Energy approved the deal Oct.18.
Panhandle Inks FirstEnergy to Supply Deal
Thanks to a new deal with CMS Energy’s Panhandle EasternPipeline Co., three FirstEnergy gas turbines in Defiance, OH, willenjoy a 15-year supply of gas. The agreement, announced yesterday,makes FirstEnergy Panhandle’s seventh power plant customer. Neitherthe volumes nor the financial terms of the transaction weredisclosed.
Midcoast, GASP Lose Court Fight over AL Line
Midcoast Interstate Transmission and two groups oflandowners/environmentalists have lost their year-long battle incourt to overturn FERC orders awarding a certificate to SouthernNatural Gas to build and operate an extension into northernAlabama.
EIA: 1998 Spending Strong Despite Price Collapse
Although 1998 saw a 25-year low in world oil prices, capitalexpenditures by major U.S. producers totaled $75.1 billion, thesecond highest level since 1974. Expenditures were up 21% from1997, according to data released by the Energy InformationAdministration (EIA) in “Performance Profiles of Major EnergyProducers 1998.”
EIA: 1998 Spending Strong Despite Price Collapse
Although 1998 saw a 25-year low in world oil prices, capitalexpenditures by major U.S. producers totaled $75.1 billion, thesecond highest level since 1974. Expenditures were up 21% from1997, according to data released by the Energy InformationAdministration (EIA) in “Performance Profiles of Major EnergyProducers 1998.”
Maritimes Begins Gas Flow To Start the New Year
Maritimes & Northeast Pipeline celebrated the new millenniumwith the rattle and hum of initial gas flowing from the shorelineof Nova Scotia 650 miles to markets in the northeastern UnitedStates. After struggling through an 11th hour Indian dispute inCanada, the pipeline company said it opened its valves Jan. 1.
Maritimes Begins Gas Flow to Start the New Year
Maritimes & Northeast Pipeline celebrated the new millenniumwith the rattle and hum of initial gas flowing from the shorelineof Nova Scotia 650 miles to markets in the northeastern UnitedStates. After struggling through an 11th hour Indian dispute inCanada, the pipeline company said it opened its valves Jan. 1.
