Archive for December, 2006
Posted by Edward G. Lanza, Esq. on 26 Dec 2006 | Tagged as: General
The Toronto Star:
TransCanada Corp. and its United States affiliate are spending about $3.39 billion (U.S.) in cash for some of El Paso Corp.’s pipelines and storage facilities as El Paso works to cut debt.
TransCanada, Canada’s biggest pipeline company, will acquire ANR Pipeline, storage facilities in Michigan and a 50 per cent stake in Great Lakes Gas Transmission from El Paso, the largest North American natural gas-pipeline owner.
The transaction includes assumption of $744 million in debt by TransCanada and TC Pipelines LP.
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Posted by Edward G. Lanza, Esq. on 26 Dec 2006 | Tagged as: General
Seeking Alpha has some interesting analysis on two (2) small cap water stocks: York Water Company and Pennichuck Corp.
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Posted by Edward G. Lanza, Esq. on 26 Dec 2006 | Tagged as: General
MarketWatch:
A steep decline in natural-gas futures amid forecasts for above-average temperatures in the eastern United States this week weighed across the energy sector Tuesday, dragging crude futures off the early highs hit as Iran vowed to defy United Nations sanctions on its nuclear research.
Natural-gas futures for January delivery tumbled 52.2 cents, or 7.9%, to close at $6.113 per million British thermal units, the contract’s lowest level since July 2004.
“Storage and weather — these are the two factors that control the market, and neither one is going to exert a positive influence anytime soon,” said Mike Fitzpatrick, an energy analyst at Fimat USA.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
WHSV.com:
Dominion Virginia Power will ask state legislators to end Virginia’s five year experiment with retail competition in the electricity business.
The state’s largest public utility called for a return to state regulation of electric rates yesterday, five years after Virginia fixed rates and allowed retail customers to shop for their power supplies.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
The Pittsburgh Tribune-Review:
The sale of Duquesne Light Holdings Inc. to a group led by Australia’s Macquarie Infrastructure Partners has received federal approval.
The Federal Energy Regulatory Commission approved the deal today at a meeting in Washington, D.C. Stockholders of the Downtown-based company, the parent of Duquesne Light, voted overwhelmingly in favor of the $3 billion deal earlier this month, and the state Public Utility Commission still must act on it.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
NY Newsday:
Public Service Enterprise Group Inc. on Wednesday said it plans to again directly manage its Salem and Hope Creek nuclear plants, taking over from Exelon Corp. after a merger of the two utility giants fell through earlier this year.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
The State Journal (WV):
The parent company of West Virginia’s largest water utility company hopes a recent public hearing in front of the state’s Public Service Commission will result in a green light allowing the company to sell off the utility.
German-based RWE AG is hoping to divest itself of American Water Co. and its subsidiary companies, including West Virginia American Water. RWE AG has said it would like to sell off the water utility companies through an initial public offering, or IPO, of stock sometime in 2007.
But before RWE AG can launch the IPO, public service commissions in 13 of the 29 states American Water Co. operates in must approve of the sale.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
State Journal Register:
State utility regulators, saying they want to ease the “rate shock” that soon will hit consumers, on Wednesday approved Ameren’s plan to gradually impose dramatically higher electricity prices that take effect Jan. 2.
The Illinois Commerce Commission voted 5-0 for the Ameren phase-in proposal and a similar one from Chicago-based Commonwealth Edison.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
The Palm Beach Post:
Wisconsin Energy Corp. is selling its only nuclear power plant to Florida-based FPL Energy in a deal worth about $1 billion, the companies announced Wednesday.
We Energies’ agreement with the subsidiary of FPL Group Inc. includes $783 million for the plant and $215 million for its nuclear fuel and other inventories.
Milwaukee-based We Energies will buy the entire output of the plant, whose two reactors generate about a quarter of the company’s energy needs.
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Posted by Edward G. Lanza, Esq. on 21 Dec 2006 | Tagged as: General
MetNews.com:
In upholding future wholesale energy contracts negotiated during the California Electricity Crisis, the Federal Energy Regulatory Commission incorrectly relied on a “public interest” standard of review, the Ninth U.S. Circuit Court of Appeals ruled yesterday.
The panel, in a consolidated appeal of FERC rulings, remanded actions by various retail power companies and state agencies to the commission, directing that it make a new determination as to the validity of the challenged contracts.
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