Electric Power news briefs, September 25
Enterprise Products Partners LP ... Acadian Gas LLC ... Coral Energy LLC ... Vectren Corp. ... PSEG Power LLC ... Duke/Fluor Daniel ... TXU Energy Trading .... eSpeed .... Coral Energy ... Dominion Resources Inc. ... Koch Energy Trading Inc. ... Williams Energy Marketing & Trading Co. ... Cantor Fitzgerald LP ... Dynegy Inc. ... Reliant Energy Gas Transmission Co. ... Niagara Mohawk Power Corp. ... Excelergy Corp. ... Enmax Corp.
Enterprise Products Partners LP said an operating partnership has executed a definitive agreement to purchase Acadian Gas LLC from Coral Energy LLC, an affiliate of Shell Oil Co., for $226 million in cash, including working capital. Acadian's assets are comprised of the Acadian, Cypress, and Evangeline natural gas pipeline systems, which together include over 1,000 mi. of pipeline and 1 bcf/day of capacity. The system includes a leased natural gas storage facility at Napoleonville, La. with 3.4 bcf of capacity. Subject to various conditions, including regulatory approval, the purchase is expected to be completed in the fourth quarter of 2000.
Vectren Corp. reported the Indiana Supreme Court issued a decision affirming in all respects the Sept. 12, 1997, order of the Indiana Utility Regulatory Commission that found the gas supply agreements between ProLiance Energy LLC and Indiana Gas Co., and Citizens Gas and Coke Utility to be in the public interest. In March this year, Vectren was formed through the merger of Indiana Energy Inc., and SIGCORP Inc., the parent companies of Indiana Gas and Sigeco. ProLiance was created as a gas supply alliance to serve Citizens Gas and Indiana Gas and to market gas to commercial and industrial customers.
PSEG Power LLC, a unit of Public Service Enterprise Group Inc., has awarded Duke/Fluor Daniel, a partnership of Duke Energy Corp. and Fluor Corp., a contract to perform engineering and procurement services for a 500 Mw, natural gas-fired, combined cycle power generation facility at PSEG Power's Bergen generating station in Ridgefield, NJ. The Bergen 2 project is targeted for completion June 2002.
TXU Energy Trading, a subsidiary of TXU Corp., and eSpeed, a business-to-business e-commerce company, have signed an agreement to form an interactive electronic marketplace for natural gas, electricity, coal, weather derivatives, and emission credits, TXU reported. Other partners in the venture, known as TradeSpark, are Coral Energy, an affilate of Shell Oil Co; Dominion Resources Inc.; Koch Energy Trading Inc.; Williams Energy Marketing & Trading Co., a subsidiary of Williams; and broker Cantor Fitzgerald LP. Dynegy Inc. will be a future member in the TradeSpark partnership. Entergy Corp. also plans immediate participation in the marketplace, and will become an investor in TradeSpark through Entergy-Koch LP upon close of that venture later this year, TXU reported.
Reliant Energy Gas Transmission Co. (REGT), a unit of Reliant Energy Corp., said it has filed with the Federal Energy Regulatory Commission to add an 'in-kind' balancing option to Rate Schedule ANS (Automatic Nomination Service), its 'just-in-time' supply management service. REGT's in-kind balancing option can be used by AutoNom customers to eliminate the extra work and costs associated with tracking imbalances and cash-outs. REGT implemented its internet-based AutoNom service Aug. 1, 2000.
The Nine Mile Point Unit 1 nuclear plant will be taken out of service Sept. 24 for preplanned maintenance, Niagara Mohawk Power Corp. reported. The plant is expected to return to service in about 1 week. During the period repairs and maintenance will be conducted on the plant's high-pressure coolant injection system, control rod drive valves and other components.
CP&L Energy Inc.'s Brunswick nuclear plant declared an "Unusual Event," the result of an apparent fault on the Unit 2 main transformer B, the company reported Friday. The fault caused a fire on the main transformer B. The fire was extinguished and the plant was stabilized placing Unit 2 in hot shutdown. Unit 2 will be taken to the cold shutdown condition, while the main transformer is replaced, the company said. CPL&L noted an "Unusual Event" is the lowest level of the four classifications used by the Nuclear Regulatory Commission in categorizing problems at commercial nuclear power plants.
Excelergy Corp. said it has opened new offices in Bristol, UK. It said the move comes in response to growing demand in European energy markets for advanced software and IT systems dedicated to helping utilities and energy companies cope with the complexities of industry restructuring. Michael Baker will spearhead Excelergy's market development efforts throughout Europe, while Robert Samwell will lead the European professional services organization.
The towns of Cardston, Fort Macleod, and the municipality of Crowsnest Pass have contracted with Enmax Corp., a wholly owned subsidiary of the city of Calgary to supply electrical supply and services to these communities for 5 years. With deregulation of Alberta's retail electricity industry in January 2001, customers will be able to choose an electricity supplier. These municipal governments have appointed Enmax to be the incumbent retailer for approximately 4,500 customers, as well as providing all associated municipal services.