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Business 2005 P32
ACC approves APS rate settlement
On Monday, the Arizona Corporation Commission (ACC) adopted new rates for Arizona Public Service Company (APS) that will help enhance both reliability for customers and financial integrity for the Company. The decision is based largely upon an agreement between APS and 21 other parties that settled issues involved in the Company's general rate case filed in June of 2003.
Mirant files amended disclosure statement and plan of reorganization
Mirant filed an amended proposed Disclosure Statement and proposed Plan of Reorganization ("the Plan") with the U.S. Bankruptcy Court for the Northern District of Texas, Fort Worth division, where the Honorable D. Michael Lynn is presiding over the case.
International Star announces approval of permits for next phase of exploration
International Star, Inc. announced it has completed the application process to gain permits necessary to further its exploration efforts on the Company's Detrital Wash properties in Mohave County, Arizona. Additionally, the Company has set a date and time for the Ground Breaking Ceremony and the start of drilling on the property.
FPL Group to acquire Texas retail electric provider GEXA Corp.
FPL Group, Inc. and GEXA Corp. announced that FPL Group, Inc., for the benefit of its wholly-owned subsidiary, FPL Energy, LLC, has entered into a definitive agreement for the acquisition of GEXA Corp., one of the fastest growing retail electricity providers in Texas, serving approximately 800 megawatts of load associated with over 100,000 small commercial and residential customers throughout the state.
FirstEnergy companies to hire up to 3,000 system-wide through 2007
FirstEnergy Corp. announced plans to hire up to 3,000 employees through 2007, with approximately 1,600 expected to be hired in 2005 and 2006. FirstEnergy companies currently have more than 13,000 employees in Ohio, Pennsylvania, and New Jersey.
Energy Investors Funds announces $295 million bond financing for Crockett Cogeneration
Energy Investors Funds, an established private equity fund manager that invests in the energy and electric power sector, announced that Crockett Cogeneration - which was acquired by its U.S. Power Fund, L.P. in November 2002 - has tapped the bond market for a $295 million 20-year Senior Secured Rule 144a Notes issuance.
Green Trading gives 10 scholarships to Net Impact students
Green Trading Inc., the company founded by Peter C. Fusaro and Marion Yuen, has given 10 scholarships to Net Impact students from around the world. The purpose of these scholarships is for graduate business students to attend the Fourth Annual Green Trading Summit to be held in New York City on May 2 and 3, 2005.
AEP Ohio seeks cost-recovery means for proposed clean-coal plant
Columbus Southern Power Company and Ohio Power Company, subsidiaries of American Electric Power, doing business as AEP Ohio, filed an application with the Public Utilities Commission of Ohio seeking authority to recover costs related to building and operating a new clean-coal technology power plant.
Enterprise agility -- managing risk with agility
Public Service Company of New Mexico (PNM), a medium sized electric and gas merchant utility, provides an excellent case study of agility in response able business processes. This case study focuses on the application of agility-enabling principles, and the benefits these principles generate.
Cap Rock Energy: ALJ recommendation received in rate case
Cap Rock Energy Corporation (Amex: RKE - News) announced today that the Administrative Law Judges ("ALJs") have issued a Proposal For Decision ("PFD") in the Company's pending rate case, PUC Docket No. 28813. This docket was instituted by the Staff of the Public Utility Commission of Texas ("PUC") to determine the reasonableness of Cap Rock's rates. Cap Rock was ordered to make a rate filing, which it did in February 2004.
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