ABB gets in the loop: ABB has won a $44 million order from Commonwealth Edison to build a new substation for downtown Chicago. ABB’s scope of supply includes conceptual design, civil engineering, equipment supply, installation and commissioning of the De Koven substation, which is scheduled for completion and start-up in May 2002.
Piat breaks ground: Piatt County, Illinois Power, Burns & McDonnell Engineering and Aquila Inc. have begun construction on a 510 MW, gas-fired power plant, Goose Creek Energy Center, located between Deland and the Village of Lodge in Goose Creek Township, Ill. Construction costs are estimated around $220 million.
Sempra goes to college: Sempra Energy Solutions has signed energy services contracts with State University of New York, Stony Brook, the University of San Diego and the University of Colorado Health Sciences Center. Sempra stated that the contracts were for “multi-year, multi-million-dollar energy services.”
Constellation to power FPL: Constellation Energy Group has signed two contracts to supply capacity and energy from its Oleander Power Project to Florida Power & Light (FPL), beginning in the summer of 2002.
Calpine gets CEC to flex muscle: After a two-year plus struggle to get state and local approval, Calpine Corp. has received the final OK from the California Energy Commission (CEC) for its Metcalf power plant in San Jose, Calif. CEC exercised its “override authority” over local laws for only the second time in the commission’s history because the plant is considered key to a state plan to avoid power shortages in locations crucial to reliability. Commercial operation of the 600 MW Metcalf plant is slated for summer 2003.
Southern Union claims dismissed: A U.S. District Court dismissed Southern Union’s claims for lost profits against Southwest Gas and its CEO Michael Maffie. While the Court did not dismiss all the claims against Southwest Gas or Maffie, the ruling limits Southern Union’s damages to “out-of-pocket expenses.” (Southern Union had been requesting between $500 and $750 million in lost profits damages.)
FERC approves Pepco, Conectiv merger: Potomac Electric Power Co. (Pepco) and Conectiv have received approval of their proposed merger from the Federal Energy Regulatory Commission. Pepco also announced that regulators in Delaware, Maryland, New Jersey, Virginia and the District of Columbia have now established schedules for reviewing the merger which are consistent with the companies’ plans to complete the merger in the first quarter of 2002.
Duke to buy Westcoast: Duke Energy plans to acquire Westcoast Energy, an energy company with a network of Canadian-based assets, in a cash and stock transaction valued at approximately $8.5 billion, including debt assumed. Duke believes the acquisition can be completed during the first quarter of 2002.
Entergy gets Yankee nuclear plant: Entergy Corp. will purchase the Vermont Yankee Nuclear Power Plant for $180 million ($145 million for the plant and related assets and $35 million for nuclear fuel). Vermont Yankee will become Entergy’s 10th nuclear unit.
Reliant to snag Orion: Reliant Resources Inc. and Orion Power Holdings Inc. have entered into a definitive merger agreement. Reliant Resources will acquire all of the outstanding shares of Orion Power in a transaction valued at approximately $2.9 billion. Reliant Resources will also assume approximately $1.8 billion of Orion Power’s net debt. The companies anticipate that the transaction will be completed in early 2002, at which time Orion Power’s business will be combined with Reliant Resources’ domestic wholesale group.
DQE Inc.: Morgan O’Brien has been promoted to president and chief executive, replacing David Marshall, who is retiring.
SmartSynch: Dale R. Pilger has been appointed chief operating officer.
Cleco Corp.: Dilek Samil has been named chief financial officer and senior vice president of finance.