Electric Power news briefs, December 12

Constellation Energy Group Inc. said its subsidiary Constellation Nuclear will purchase 100% of Unit 1 and 82 percent of Unit 2 of the two Nine Mile Point nuclear plants, Scriba, NY, for $737 million, net of fuel, and $815 million, including fuel. Constellation will own a total of 1,550 Mw of Nine Mile Point's 1,757 Mw of total generating capacity. Acquisition of the Nine Mile Point plants will add immediately to Constellation Energy Group's earnings and is expected to contribute about 20�/share to its merchant energy business earnings in 2002. The sale is expected to close in mid-2001 after receipt of all regulatory approvals, the company said. Niagara Mohawk Power Corp. is the sole owner of Nine Mile Point Unit 1. Co-owners of Nine Mile Point Unit 2 who are selling their interests to Constellation include Niagara Mohawk, New York State Electric & Gas, Rochester Gas & Electric Corp., and Central Hudson Gas & Electric Corp. The Long Island Power Authority, which owns 18% of Nine Mile Point Unit 2, has chosen not to sell.

The US General Services Administration (GSA), Smithsonian Institution, and Washington Gas, a unit of WGL Holdings Inc., reported a $64 million agreement to modernize and expand GSA's central heating and refrigeration plant in Washington, DC. The project will reduce operating expenses and emissions, while increasing the plant's ability to meet the chilled water needs of eight Smithsonian Institution facilities, Washington Gas reported. More than half of the initial construction cost will be recouped in less than 8 years through energy and operational savings. Washington Gas will serve as the general contractor for the project. Project construction is expected to begin in February 2001, with completion expected by June 2002.

IdaTech, a subsidiary of IdaCorp Inc., said it executed a long-term license and distribution agreement for its patented fuel cell systems with Tokyo Boeki Ltd. of Japan. Tokyo Boeki also took an undisclosed minority equity position in IdaTech and agreed to promote the IdaTech brand name in Japan. Toyko Boeki is scheduled to begin field testing 1 kw and 3 kw fuel cells for Japanese residences. The initial test systems in 2001 will operate on methanol and, possibly, other fuels.

Calpine Corp. said it is considering developing a $500 million 1,100 Mw power plant in Alameda County, Calif. Calpine has proposed interconnecting the proposed East Altamont plant into the Western Area Power Administration's transmission system. Upon completion of its licensing through the California Energy Commission, Calpine said it would begin construction in June 2002, with commercial operations beginning in June 2004.

Cinergy Corp. unit Cinergy Capital & Trading Inc. (CCT), and Enron North America, a unit of Enron Corp., reported signing a definitive agreement under which CCT will purchase Enron's 494 Mw Brownsville generation facility in Haywood County, Tenn., and the 504 Mw Caledonia generation facility in Lowndes County, Miss. The transaction is anticipated to add to Cinergy's earnings in 2001. Financial terms were not disclosed.

Avista Corp.affiliate, Avista Utilities, said it chose the 280 Mw fully licensed Coyote Springs 2 site near Boardman, Ore., as the preferred supply-side resource option and three demand-side management bids yielding about 13 Mw to meet the utility's growing needs. Construction of Coyote Springs 2 is scheduled to begin in January 2001 and completion is projected by by June 1, 2002. Under the terms of the agreements, ownership of Coyote Springs 2 will be transferred at cost to Avista Utilities from Avista Corp. subsidiary Avista Power LLC, which acquired Coyote Springs 2 in July from Enron North America and Portland General Electric Co.

The UK's Centrica PLC said it will acquire Sempra Energy's stake in Energy America, a US energy marketing firm, for about $56 million. Under the transaction, a wholly owned subsidiary of Centrica will acquire Sempra Energy's 72.5% ownership of Energy America, which has nearly 400,000 residential and small-business customers in New Jersey, Michigan, Ohio, Georgia, Pennsylvania, and Maryland. Sempra Energy said it expects the sale to increase the company's 2001 earnings by about10�/share.

TNPC Inc., parent of the New Power Co., said it received its certificate as a retail natural gas marketer from the Georgia Public Service Commission. The New Power Co. will begin to serve natural gas consumers in Georgia in 2001.

Establishment of the Emirates Power Linkage Corp. has been approved by local government authorities, according to Mideast news reports, and linking of power grids in Dubai and Abu Dhabi will be completed in the first quarter of 2003. The corporation would link all power transfer networks in two phases. Sources said the projects were approved in a meeting attended by representatives from electricity authorities in the Emirates of Abu Dhabi, Dubai, and Sharjah. The Gulf Cooperation Council recently approved a specialized corporation for linking power grids in the six member countries with a budget of $1.1 billion (US). The first phase of the project includes linking the power grids of Saudi Arabia, Bahrain, Qatar, and Kuwait, while the second phase includes Qatar and the United Arab Emirates (UAE) and the third includes the UAE and Oman, the report added.

US power giant Enron Corp. is set to increase its equity investment in India's Dabhol power project by 23.6%, from the existing $886.9 million to $1.12 billion (US). The additional $233 million would be brought in during the second phase of the 2,184 Mw project at Dabhol in southern Maharashtra. Enron has sought government approval to dilute the Maharashtra State Electricity Board�s (MSEB) shareholding in the project to below the originally planned limit of 30%. Presently, Dabhol Power Co. is a wholly owned subsidiary of Enron Mauritius Co., a unit of Enron Corp.

Related Articles

MOL completes Ithaca Norge acquisition

07/09/2015 MOL Group, Budapest, has completed its acquisition of Ithaca Petroleum Norge from Ithaca Energy Inc. for $60 million plus possible bonuses of up to...

AER orders Apache Canada to address integrity of pipeline system

07/08/2015 Alberta Energy Regulator has directed Apache Canada Ltd. to address the integrity of its pipeline management system because of “failure to follow p...

AER shuts in 16 Murphy Oil sites in Peace River region for noncompliance

07/07/2015 Alberta Energy Regulator said it has shut in or partially shut in 16 sites operated by Murphy Oil Co. Ltd. in the Peace River region. The sites wer...

Buru awarded onshore Canning licenses

07/06/2015 Buru Energy Ltd., Perth, and Mitsubish Corp. have been granted two production licenses for Ungani oil field in the onshore Canning basin of Western...

Cenovus sells royalty business for $3.3 billion

07/06/2015 Cenovus Energy Inc., Calgary, inked an agreement to sell its wholly owned subsidiary Heritage Royalty LP to Ontario Teachers’ Pension Plan for gros...

CERI: Energy, operational efficiencies possible in Canadian oil, gas

07/06/2015 Measures can be taken by operators in the expanding resource-intensive Canadian oil and gas sector to improve both energy efficiency and operationa...

AGL Energy to scale back upstream gas operations


Gas retailer AGL Energy Ltd., Sydney, says it will exit the oil business and massively scaling back its upstream gas operations.

Macondo settlement seen ‘positive’ for BP

07/06/2015 BP Exploration & Production Inc.’s recent agreement to settle federal and state claims related to the 2010 Macondo blowout and spill improves t...

Emerging producers offered guidelines for governance

07/06/2015 Like most worthy endeavors, governing oil and gas activity at the national level is easier said than done-especially where oil and gas never before...
White Papers

Definitive Guide to Cybersecurity for the Oil & Gas Industry

In the Oil and Gas industry, there is no single adversary and no single threat to the information tech...

UAS Integration for Infrastructure: More than Just Flying

Oil and gas companies recognize the benefits that the use of drones or unmanned aerial systems (UAS) c...

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by
Available Webcasts

Operating a Sustainable Oil & Gas Supply Chain in North America

When Tue, Oct 20, 2015

Short lead times and unpredictable conditions in the Oil & Gas industry can create costly challenges in supply chains. By implementing a LEAN culture of continuous improvement you can eliminate waste, increase productivity and gain end-to-end visibility leading to a sustainable and well-oiled supply chain.

Please join us for this webcast sponsored by Ryder System, Inc.


On Demand

Leveraging technology to improve safety & reliability

Tue, Sep 22, 2015

Attend this informative webinar to learn more about how to leverage technology to meet the new OSHA standards and protect your employees from the hazards of arc flash explosions.


The Resilient Oilfield in the Internet of Things World

Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.


Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected