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Business 2005 P19
SCE launches eighth solicitation for new power contracts
For the second time this year, and the eighth time in three years, Southern California Edison (SCE) issued a competitive Request for Offers (RFO) for new power contracts with independent generators and marketers.
Sierra Pacific Power files electric and gas energy rate updates
Sierra Pacific Power Company, a subsidiary of Sierra Pacific Resources, filed with the Public Utilities Commission of Nevada (PUCN) to update its rates in the face of escalating energy prices to reflect increasing costs for fuel and power purchased to serve its customers. The filings include an update of electric rates for northern Nevada customers, and a rate update for natural gas customers in the Reno-Sparks metropolitan area.
Lightyear Capital sells Ripon Cogeneration for $96 million
Lightyear Capital, LLC, a private equity firm that manages more than $2 billion in assets, announced it has sold its controlling interest in Ripon Cogeneration LLC ("Ripon") to Countryside Power Income Fund in a transaction valued at US$96 million.
Xcel head steps down
Wayne Brunetti, 62, chairman and CEO of Xcel Energy Inc., on Wednesday announced his retirement as CEO of the nation's fourth-largest combined natural gas and electricity utility.
CenterPoint Energy Gas Transmission Company reaches settlement of FERC investigation
CenterPoint Energy Gas Transmission Company (CEGT), a wholly-owned interstate natural gas pipeline subsidiary of CenterPoint Energy, Inc., received an Order from the Federal Energy Regulatory Commission (FERC) accepting the terms of a settlement agreed upon by CEGT with the Staff of the FERC's Office of Market Oversight and Investigations (OMOI). The settlement brings to a conclusion an investigation of CEGT initiated by OMOI in August of 2003.
Calpine Corporation agrees to sell its oil and gas properties for $1.05 billion
Calpine Corporation announced that it has agreed to sell all of its domestic oil and gas exploration and production assets for $1.05 billion, less transaction fees and expenses. The sale is scheduled to close on July 7, 2005.
Westar Energy selects Triple Point Solution for power trading, marketing, scheduling, settlement and transmission management
Triple Point Technology announced that Westar Energy has selected Triple Point Commodity XL™ for Power to manage its physical and financial trading, marketing, transmission, scheduling, and settlement in US electricity markets. Westar Energy is the largest electric energy provider in Kansas with more than 650,000 customers.
R. W. Beck, Mott MacDonald sign joint venture agreement
Management consulting and engineering firm R. W. Beck, Inc. and engineering, management and development consultancy Mott MacDonald Group have formed a joint venture, Beck-Mott MacDonald Power Systems, to offer a wider range of services to the electric power industry.
Northwestern reaches agreement in principle to settle Netexit, Inc. bankruptcy claims
NorthWestern Corporation d/b/a NorthWestern Energy reported that it has reached an agreement in principle with the creditors committee of Netexit, Inc., f/k/a Expanets, Inc., on a bankruptcy liquidation plan. Netexit, a subsidiary of NorthWestern, filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the District of Delaware on May 4, 2004.
Gestalt acquires Canadian division of energy and utility consulting firm Barker, Dunn & Rossi
Gestalt, a business and information technology services firm providing strategic consulting and decision support technologies to the defense and energy and utilities industries, announced that it has acquired the Canadian division of leading energy and utility management consulting firm Barker, Dunn & Rossi, Inc (BDR).
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