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Business 2004 P1
Loews Corporation Completes Acquisition of Gulf South Pipeline, LP
Loews Corporation announced that its wholly owned subsidiary, TGT Pipeline, LLC has completed its previously announced acquisition of Gulf South Pipeline, LP from Entergy-Koch, LP, a venture between Entergy Corporation and Koch Energy, Inc., a subsidiary of privately-owned Koch Industries, Inc. TGT Pipeline, LLC funded the $1.136 billion purchase price with $575 million of proceeds from an interim loan and the remaining approximately $561 million from cash provided by Loews.
OG&E adopts web-based approach to purchase power
Beginning in January 2005, OG&E Electric Services will begin buying some of its power online.
The Web-based application will allow the company to electronically accept offers from utilities and other electricity suppliers that may be selling power in the region.
NRG Energy completes $950 million senior debt refinancing
NRG Energy, Inc. announced that it amended and restated its $950 million senior secured credit facility. The amended and restated facility includes a $150 million revolving credit facility and an $800 million term loan, $350 million of which will be used to prefund a letter of credit facility to support working capital needs.
Commerce Energy Group reaches settlement with Saline and Ogundiji
Commerce Energy Group, Inc. a leading U.S. electricity service provider, announces that a full and comprehensive settlement agreement has been reached with former Director, Joseph P. Saline, and shareholder Joseph Ogundiji.
Sempra Energy fails in last attempt to dismiss $24 billion class action lawsuit
A final attempt by Sempra Energy to stop a major $24 billion antitrust class action lawsuit from going to trial has failed, following the denial of a writ of mandate last week by the California Court of Appeal, Fourth Appellate District, it was announced by plaintiffs' attorneys today.
Wisconsin Power and Light Company files fuel and purchased power cost rate increase for electric service
Wisconsin Power and Light Company (WP&L), a subsidiary of Alliant Energy Corporation, filed a $9.2 million (1.2%) annual fuel-only rate increase for electric service with the Public Service Commission of Wisconsin (PSCW). The request is based on increased fuel and purchased power costs incurred in November and December, and the expectation that total annual fuel and purchased power costs will exceed annual projections outside of monitoring levels.
TECO Energy closes the sale of its interest in Frontera Power Station
TECO Energy, Inc. announced that all required regulatory approvals have been obtained and its subsidiaries have closed the previously announced sale of Frontera Generation Limited Partnership, the owner of the Frontera Power Station in Texas, to a subsidiary of Centrica plc for $134 million.
Utilities worldwide can now benefit from a 'first of its kind,' comprehensive enterprise operational solution set
SPL WorldGroup, Inc., a provider of mission-critical software solutions for the global utility market, announced that GFI Energy Ventures, LLC has completed their majority share acquisition of SPL as well as the completion of the merger of Synergen, Inc. with SPL. The new company will be known as SPL WorldGroup, Inc.
Calpine completes $195 million project financing for 525-MW Valladolid III Energy Center in Mexico
Calpine Corporation announced that its indirect subsidiary Compania de Generacion Valladolid, S. de R.L. de C.V. (CGV) completed a $195 million, non-recourse project financing for the Valladolid III Energy Center in Valladolid, Mexico. The financing facility will fund the construction of the 525-megawatt generation project that Calpine is developing with partners Mitsui & Co., Ltd. and Chubu Electric Power Co., Inc.
Progress Energy's project share campaign raises more than $680,000 in 2004
Progress Energy announced that its annual Project Share campaign raised $681,000 in 2004. The entire amount of funds raised has already been distributed to families in the Carolinas who need assistance paying energy bills.
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