Daily GPI

Sparked by demand to simplify the billing procedures in itsderegulated electricity and gas industries, the New York StatePublic Service Commission (NYPSC) approved a recommendationyesterday allowing customers who choose an alternative supplier theoption to receive a single, combined bill for each utility service.

Marking the start of what many expect to be a major trend overthe next few years, a Florida county authorized the construction ofa 460 MW gas-fired facility earlier this week. The $100 millionplant, which will be built and operated by Reliant Energy, willstart service in the fourth quarter of 2001. The Osceola CountyCommission Board approved the plan by a vote of 4-1.

Exelon Capital Partners, the energy services and marketing armof PECO Energy, and Orion Ltd., an international energy networkmanagement company, announced a partnership yesterday. The newcompany, called CIC Global, LLC, is an international technologycompany focused on providing real time energy and bill paymentinformation to residential and small commercial/industrialcustomers. CIC Global plans to reveal its products in Philadelphialater this year.

Tennessee expects its 300 Line in northern Pennsylvania to returnto service today following completion of repairs to Sunday morning’srupture (see Daily GPI, Feb. 29). Unlessconditions change, the pipeline will accept intra-day Cycle 1nomination increases beginning at 5 p.m. CST for all meters downstreamof Main Line Valve 314.

Prices for the last day of February were generally on theupswing Monday, ranging from flat in California to more than a dimehigher at a few Northeast points.

Fueled by positive expiration-day price action last Friday andprodded by continued anticipation of higher prices this summer,natural gas futures shuffled higher yesterday as bulls gave a warmbuying welcome to the new spot contract April. With that boost theApril contract closed up 6.9 cents at $2.686 while the summer stripwas up 5.3 cents at $2.721.

Columbia Energy Group’s eight-month refrain of “wrong price,wrong time, wrong company,” referring to NiSource’s hostile tenderoffer, was unexpectedly altered yesterday to the more upbeat tuneof right price, right time, right company. However, Columbia CEOOliver G. Richard III won’t be playing the lead fiddle much longer.

Although dwarfed by the news of the proposed NiSource-Columbiamarriage, LG&E Energy Corp. had some glad tidings of its ownyesterday — it signed off on a definitive merger agreement forBritain’s PowerGen plc to acquire the Louisville, KY-baseddiversified energy company in a cash-and-debt transaction valued at$5.4 billion.

Saying a takeover of Northeast Utilities (NU) by ConEdison wouldhurt the state’s consumers and economy, Connecticut AttorneyGeneral Richard Blumenthal recently filed statements at theConnecticut Department of Public Utility Control (DPUC) opposingthe merger. The DPUC is expected to issue its final decision on themerger in May.