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General Interest 2000 P

  • 12/20/2000 -- California ISO invokes federal order to buy power
    The California Independent System Operator (ISO) Wednesday issued a request for 3,000 Mw in supplemental bids and was operating under 'no touch' conditions, after invoking a federal order Tuesday requiring generators and marketers throughout the West to sell surplus power to California with 12 hours notice from the ISO. The order was issued late last week by US Energy Sec. Bill Richardson.
  • 12/20/2000 -- Market watch, Dec. 20
    International energy futures continued to waffle Tuesday as rumors of large imports of home heating oil into the US sent crude prices tumbling on the International Petroleum Exchange in London. The January contract for benchmark US light, sweet crudes dropped 43� to 29.33/bbl on the New York Mercantile Exchange.
  • 12/19/2000 -- US Energy Sec. Richardson warns of 'liquidity crisis'
    US Energy Sec. Bill Richardson Tuesday warned California utilities could be facing a 'liquidity crisis' in a meeting in Washington with federal regulators, utilities, and California electricity marketers. Electricity supplies are tight, natural gas prices are high, and wholesale electricity prices remain much higher than historic norms, Richardson explained, putting the state's utilities at risk.
  • 12/19/2000 -- Crown Central to merge with Rosemore
    Crown Central Petroleum Corp. Monday announced plans to merge with Rosemore Inc.. Rosemore will offer $10.50/share for shares of Crown it does not already own. The third largest shareholding group in Crown has agreed to vote for the merger. Previously, shareholders had voted against a merger with Rosemore.
  • 12/19/2000 -- Market watch, Dec. 19
    The weatherman continued to set international energy futures prices, pushing them up Monday with forecasts of another wave of cold weather for key Northeast US markets. On the New York Mercantile Exchange, the January contract for benchmark US light, sweet crudes climbed 88� to $28.87/bbl.
  • 12/18/2000 -- California back on emergency status, after 3-day respite
    Ending a 3-day hiatus, the California Independent System Operator Monday afternoon declared a Stage 1 electrical emergency, signifying reserves were below 7%. According to market operations, the problem is again associated with a power deficit in northern California. Last week, the ISO battled to get power to the northern part of the state on Path 15, the frequently overloaded south-to-north transmission line.
  • 12/18/2000 -- Petro-Canada to sell seven gas properties
    Petro-Canada, Calgary, has completed sales agreements for seven non-core natural gas producing properties in northeastern British Columbia and north-central Alberta. Buyers were not named for the properties, which together produce about 55 MMcfd. Petro-Canada will realize about $270 million (Can.) for the assets.
  • 12/18/2000 -- 'We're not California,' New York ISO says
    Cutting the price cap on bids to $150/Mw-hr from $1,000/Mw-hr could deter the 'very power generation' needed to moderate prices and insure reliability, the New York Independent System Operator said in response to a recommendation by the Public Service Commission of New York (PSC) staff. State regulators called for the much lower price cap on bids into the wholesale electricity market in a Dec.14 report. The PSC initiated the examination after New York experienced prices spikes this past summer.
  • 12/18/2000 -- Issues & Analysis: Norway opens debate on partial privatization of Statoil
    Norwegian Petroleum and Energy Minister Olav Akselsen has released a long-awaited White Paper on the privatization of 25% Statoil and the sale of part of the government's interest in 150 Norwegian exploration and production licenses.
  • 12/18/2000 -- NOIA calls for long-term leasing policy
    The National Ocean Industries Association is urging the US Minerals Management Service to create a long-term energy policy. MMS earlier this month asked industry for input on a new 5-year plan for the federal offshore oil and natural gas leasing program. The plan will determine where and when companies can lease parcels of ocean lands on which to explore and produce for the years 2002-2007.
  • 12/18/2000 -- Market watch, Dec. 18
    Energy futures prices soared in trading on the New York Mercantile Exchange Friday. Weather forecasts formed the basis of trading in the highly volatile session. According to the latest US National Weather Service forecast, temperatures are expected to be below normal for the next several weeks in the US Northeast.
  • 12/15/2000 -- DOE order sends more electricity to California
    For the first time in almost 2 weeks, the California Independent System Operator didn�t call a Stage 1 emergency Friday and the likelihood of a Stage 2 or 3 has diminished substantially. The ISO attributes improving conditions to increased availability of electricity imports thanks to direct intervention by US Energy Sec. Bill Richardson. Imports all but dried up in California causing threats of rolling blackouts and a daily crisis atmosphere earlier this week.
  • 12/15/2000 -- Central Gulf sale to offer first blocks in Western Gap since 1997
    Fifty-three partial or entire lease blocks in the Western Gap area were added to the proposed notice for Central Gulf of Mexico Lease Sale 178, the US Minerals Management Service announced. A June treaty between the US and Mexico drew a dividing line through the gap, freeing the MMS to resume lease offerings in the region.
  • 12/15/2000 -- New York regulators call for cut in price cap
    The Public Service Commission of New York staff called for a price cap of $150/ Mw-hr for bids by generators into the wholesale electricity market in a report issued Thursday. Presently, the New York Independent System Operator is operating under a $1,000/Mw-hr cap.
  • 12/15/2000 -- US Energy Sec. Richardson issues California order
    With California on the brink of blackouts Thursday for the second time this week, US Energy Sec. Bill Richardson formally issued an emergency order requiring generators and marketers to make power available to the California grid operator. The Federal Energy Regulatory Commission, which governs interstate transportation of natural gas and electricity, is scheduled to issue its formal rule changes for the California market Friday afternoon
  • 12/15/2000 -- Market watch, Dec. 15
    Energy futures prices continued to tumble Thursday as traders took profits from recent run-ups and the falling market triggered automatic sell orders. The January contract for benchmark US light, sweet crudes dropped 75� to 27.90/bbl on the New York Mercantile Exchange, while the February contract lost 95� to $27.17/bbl.
  • 12/15/2000 -- Norway to sell off up to 25% of Statoil
    Norway�s Statoil was lined up for partial privatization next year, as the country�s Labour government Thursday announced long-delayed plans to restructure ownership of both the energy giant and the package of reserves on the Norwegian Continental Shelf owned directly by the state, known as the SDFI. Under the proposal, 10-25% of Statoil would be floated as early as next summer on the stock market as an initial public offering, and 20% of the SDFI assets sold.
  • 12/15/2000 -- UK government rolls out green fuel scheme
    UK Environment Minister Michael Meacher Thursday put out an open invitation to fuel producers, automobile manufacturers, and environmental groups to submit information on a range of environmental, health and safety, and vehicle performance issues as part of a government initiative looking into alternative fuels.
  • 12/14/2000 -- FERC sets sanction higher than Northeast ISO requests
    The Federal Energy Regulatory Commission rejected an ISO New England's request to cap rates for its so-called installed capability (ICAP) market at 17�/kw-month, calling it a �token� amount, and reinstated an $8.75/kw-month charge. The charge is intended to encourage new generation and is levied against New England utilities or other load entities that don�t contract for enough electricity to serve customers and maintain a reasonable generation margin. The fine is paid to generators.
  • 12/14/2000 -- Generators deny California charges; ISO in Stage 2 alert
    With the California Independent System Operator operating under its 31st Stage 2 electricity emergency called just after midnight Thursday, state regulators said they would reconsider calls by California utilities to lift a rate freeze that is edging them toward insolvency. Southern Energy and Dynegy denied withholding power from the California market. Calif. Gov. Gray Davis Wednesday alleged certain out-of-state generators declined to sell power in the state out of fear they might not be paid.

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