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Business 2005 P29
Fidelity Exploration & Production announces agreement to acquire South Texas production assets
MDU Resources Group, Inc. announced that, on April 19, 2005, its indirect wholly owned subsidiary, Fidelity Exploration & Production Company (Fidelity), signed Purchase and Sale Agreements to acquire natural gas and oil properties from a Houston-based independent producer for an aggregate cash purchase price of $145 million, subject to accounting and purchase price adjustments customary for oil and natural gas acquisitions of this type.
Endesa signs euro 2,000 million syndicated loan, its largest ever
ENDESA signed a Euro 2,000 million syndicated loan with 38 financial institutions to cover its financing needs, namely to fund planned capex and short-term debt redemption.
Duke Energy announces rotational assignments within financial operations
Duke Energy announced a number of rotational assignments within the company's financial operations. These changes will be effective June 1, 2005.
Commerce Energy Group, Inc. announces settlement with former CEO
Commerce Energy Group, Inc., a leading independent U.S. electricity and natural gas marketing company, announced that it and its principal operating subsidiary, Commerce Energy, Inc., had entered into a settlement agreement and release with its director and former Chief Executive Officer, Ian B. Carter. The settlement agreement provides for payments to Carter totaling $3 million and the payment of two months of COBRA coverage for Carter.
AmerenUE set to serve as Noranda Aluminum's long-term electricity supplier through first-of-its-kind arrangement
AmerenUE, Missouri's largest electric company, has received all regulatory approvals that will allow the company to deliver electricity to Noranda Aluminum, Inc., the state's largest consumer of electricity. AmerenUE has presented its notice of intent to serve Noranda, with service to begin on June 1.
Black Hills Corporation announces agreement to sell communications subsidiary
Black Hills Corporation announced it has entered into a definitive agreement to sell its communications subsidiary, Black Hills FiberCom and related businesses, to PrairieWave Communications, Inc.
Wisconsin Power and Light receives approval to defer $13.2 million in incremental fuel costs related to Kewaunee Nuclear Power Plant outage
Wisconsin Power and Light Company (WP&L), a subsidiary of Alliant Energy Corporation, received approval from the Public Service Commission of Wisconsin (PSCW) to defer continuing fuel-related incremental costs associated with the extension of the unplanned outage at the Kewaunee Nuclear Power Plant (KNPP). Deferred fuel-related costs, covering the period April 15 through mid to late May, are expected to be approximately $13.2 million.
PHI unit, Atlantic City Electric reaches agreement on rate filing
Atlantic City Electric Company announced it has reached an agreement with all parties to the proceeding before the New Jersey Board of Public Utilities (BPU) on the utility's 2003 filing for an increase in base rates. Atlantic City Electric Company is a subsidiary of Pepco Holdings, Inc.
Alliant Energy sells Cogenex Energy Services business
Alliant Energy Corp. announced it successfully completed the sale of its energy services business to Constellation Energy Projects & Services Group, Inc., a subsidiary of Constellation Energy of Baltimore, Md. Cogenex Corp. and Energy Performance Services, Inc. (collectively Cogenex), primarily based in Lowell, Mass., were part of Alliant Energy Resources, Inc.'s (AER) Integrated Services Co. (ISCO) business platform.
Maryland Public Service Commission releases position on RPM
The Maryland Public Service Commission ("Commission") responded to PJM's request for input regarding the PJM's Reliability Pricing Model ("RPM") by sending a letter advising against implementation of the RPM as currently proposed.
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