Reliant Energy said its subsidiary Reliant Resources, Inc., whichincludes all of its unregulated energy operations, has filed aregistration statement with the Securities and Exchange Commission foran initial public offering of common stock. The IPO was announced inJuly as part of a corporate reorganization plan designed to separatethe company’s regulated and unregulated businesses into two publiclytraded companies (see Daily GPI, July28).
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National Fuel Reaches Deal, Lowers 3Q
National Fuel Gas Co. announced yesterday that it has reached arate settlement agreement with the staff of the Department ofPublic Service, the Consumer Protection Board and multiple otherinterveners. The New York Public Service Commission approved theagreement at its regular session on Oct. 11.
October 18, 2000
Michigan Adopts Terms of Permanent Gas Choice
Gas customer choice appears to be taking hold in yet anotherstate, as the Michigan Public Service Commission last week adoptedterms and conditions to make gas choice programs for residentialand commercial customers a permanent fixture in the state.
October 18, 2000
Trans Energy Forms Acquisition Subsidiary
West Virginia-based Trans Energy Inc. is creating awholly-owned subsidiary, Trans Energy Acquisition, to aggressivelypursue acquisitions and mergers within the oil and natural gassector, appointing industry veteran Gary Lawyer to the executiveacquisition committee.
October 18, 2000
Southeast RTO Proposals Lack ‘Regionality’
Amid the crush of proposals to join or create regionaltransmission organizations (RTOs) filed Monday, the owner andoperator of an electric cooperative system in Alabama urged FERC tofocus its attention on the RTO filings for the Southeast, sayingthey lack genuine regional participation.
October 18, 2000
AGA Forms New Council for Members
The American Gas Association (AGA) has formed a new LeadershipCouncil to serve as a forum for member company senior executives tomanage and participate in association activities. The council willinclude senior executives not serving on the AGA board.
October 18, 2000
EIA: Regional Wholesale Markets to Grow
Boosted by the momentum gained through the 1980s and 1990s withgrowing regional wholesale electricity trading markets inCalifornia, New York, Pennsylvania, New Jersey, Maryland and theNew England states, more U.S. regions now are open to electricitycompetition, according to a report by the Energy InformationAdministration.
October 18, 2000
CA Utilities Seek $100 Power Cap
Following up on earlier requests for federal help, California’slargest electric utilities and their usual adversary, The UtilityReform Network (TURN), a utility watchdog group, jointly filed withthe Federal Energy Regulatory Commission Monday for a $100across-the-board cap on all wholesale electricity prices and forlonger term fixes, including a declaration that the state’selectricity market is unworkable under its current framework.
October 18, 2000
People
The Board of Directors of the Interstate Natural Gas Associationof America (INGAA) elected Stanley C. Horton, CEO of EnronTransportation Services Co., as INGAA’s chairman for 2001. Hortonsucceeds David A. Arledge, CEO of Coastal Corp. INGAA completed itsslate of officers by electing Michael E. J. Phelps, CEO ofWestcoast Energy Inc., as first vice chairman and John W.Somerhalder II, executive vice president of El Paso Energy PipelineGroup, as second vice chairman. Jerald V. Halvorsen was re-electedpresident of INGAA.
October 18, 2000
West Again Mostly Higher in Face of Overall Softening
Once again several western points defied the overall downwardtrend of the cash market Tuesday. Most eastern quotes ranged 2-3cents to either side of down a nickel, but Rockies/San Juan andNorthern California increases went as high as a dime-plus.
October 18, 2000
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