Archive for June, 2006
Posted by Edward G. Lanza, Esq. on 05 Jun 2006 | Tagged as: General
Energy Biz Insider:
The winter scare is over. But a summer storm could tip the nation’s natural gas balance. The concern is over whether a devastating hurricane such as the one experienced last summer could happen again. Right now, there’s enough natural gas in the supply chain to meet expected demand. But, a heated summer compounded by natural disasters could put a crimp in the system that could result in exacerbated prices.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
Chicago Tribune:
For many towns across the country, it once seemed like a good idea to have municipal water utilities in the hands of private companies.
Now, bristling against skyrocketing rates, spotty service and foreign ownership, a number of towns across Illinois and the U.S. are waging fierce battles to regain control of their drinking water. A host of them are fighting [RWE,] a German conglomerate that has snapped up more than 1,800 American water utilities.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
MSN Money:
Eastern Shore Natural Gas Co., a subsidiary of propane gas supplier Chesapeake Utilities Corp., said Friday that it intends to expand the capacity of a pipeline between Maryland and Delaware through a $93 million project.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
New Telephony:
The FCC on Thursday became officially rounded out when Chairman Kevin J. Martin swore in the group’s fifth member and third Republican, Robert M. McDowell.
McDowell’s term runs until June 30, 2009.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
From Bloomberg via the New York Times:
CenterPoint Energy and Duke Energy have proposed a 1,600-mile pipeline to transport natural gas to the Northeast from production areas in West Texas and the Rocky Mountain states to meet growing demand.
The pipeline, an expansion of an earlier plan, would extend from the Waha area, near Midland, Tex., to the Philadelphia area, the companies said in a joint statement yesterday. A 60-day auction will be held to determine interest in the project, which would have the capacity to move as much as 1.75 billion cubic feet of gas a day. No estimate of the cost was provided by the companies.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
The Newark (NJ) Star Ledger:
Exelon Chief Executive John Rowe yesterday defended the economic merits of its proposed acqui sition of Newark’s Public Service Enterprise Group, arguing the $16 billion deal still makes sense for shareholders despite a change in market conditions that has significantly boosted the value of each company.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
Law.com:
Enron Corp.’s former outside law firm, Vinson & Elkins, has agreed to pay the company $30 million to settle claims of contributing to the failed energy giant’s 2001 collapse by signing off on fraudulent or shaky deals.
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Posted by Edward G. Lanza, Esq. on 02 Jun 2006 | Tagged as: General
Baltimore Business Journal:
Thirteen executives at Constellation Energy Group Inc. stand to receive up to a total of $73 million in payouts from company stock and incentive plans if the company’s proposed merger with a Florida power company goes through.
Seven of those executives also could reap a share of $27.5 million in cash severance if they are fired after the $10 billion merger with FPL Group Inc of Juno Beach, Fla closes.
The disclosure came in a letter to leaders of the Maryland General Assembly, who made a broad request for information from the Baltimore-based energy company.
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Posted by Edward G. Lanza, Esq. on 01 Jun 2006 | Tagged as: General
Philadelphia Inquirer:
Power company Mirant Corp. yesterday sued rival energy producer NRG Energy Inc., contending that NRG was unfairly rejecting its nearly $8 billion takeover bid.
Atlanta-based Mirant sought a court order in Delaware directing NRG not to obstruct its attempts to acquire NRG. Mirant asserted that NRG is using a “transaction ploy” to turn aside the offer by contending that Mirant is using confidential information from NRG’s former financial adviser.
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Posted by Edward G. Lanza, Esq. on 01 Jun 2006 | Tagged as: General
Central PA Business Journal:
The Pennsylvania Public Utility Commission unanimously approved the $67 billion merger of AT&T Inc. and BellSouth Corp. Under the terms of the merger, BellSouth will become a wholly owned affiliate of AT&T. The change in ownership of BellSouth will be seamless for its Pennsylvania customers, who are mainly large businesses, according to the commission. The rates, terms and conditions will remain the same. On March 31, the companies filed a joint application for approval of a merger. While the Communications Workers of America filed a petition to intervene, the union never followed up with a formal objection, according to a statement from the commission.
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