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ELP Volume 77 Issue 12

FTC & FERC approve Dominion Resources, CNG merger:

The Federal Trade Commission approved the merger of Dominion Resources Inc. and Consolidated Natural Gas Co. FERC conditionally approved the merger, and the companies intend to file a response accepting the conditions. Regulators in Virginia, Pennsylvania, Ohio, North Carolina and West Virginia have approved the merger. Still pending is approval by the Securities and Exchange Commission, which is expected by year-end. The merger is expected to close in the first quarter of 2000.

EIA sees cheap power

Electricity prices in the United States will probably drop by about 1¢/kWh by the year 2020, according to the Energy Information Administration`s annual long-term energy outlook. Driven down by competitive forces in power markets, falling coal prices and increased mining productivity, electricity rates are expected to bottom out at an average of 5.8 cents/kWh. Meanwhile, carbon emissions will rise by 1.3 percent a year, even as 40 percent of the country`s nuclear generating capacity is reti

FERC approves Dynegy & Illinova merger:

FERC approved the proposed merger, which is on schedule for completion during the first quarter of 2000. The sale of the Clinton Power Station, a key condition of the merger, is close to being finalized. Illinois Power and AmerGen signed an asset purchase agreement in July under which AmerGen will purchase and operate the facility.

El Paso Energy & Sonat complete merger:

El Paso Energy Corp. and Sonat Inc. completed their $6 billion merger, creating a natural gas transmission system comprising over 40,000 miles, the largest natural gas transmission system in North America both in throughput and miles of pipeline.

FPL selects Black & Veatch for repowering project:

Florida Power & Light Co. selected Black & Veatch to provide engineering, procurement and construction management services for the 2,018 MW Sanford Repowering Project, DeBary, Fla. The plant will consist of eight 165 MW combustion turbines provided by General Electric, eight heat recovery steam generators provided by Foster Wheeler, two existing condensing steam turbines, and balance-of-plant equipment, both new and existing.

Planned merchant capacity skyrockets

The potential generating capacity from announced merchant power plants across the country has more than doubled in just one year, indicating that confidence in competitive markets is on the rise, reported the Electric Power Supply Association (EPSA)

Passing on the high side: PECO Energy leads the pack with contrarian strategies

Walk through the front door at the PECO Power Team offices outside Philadelphia, and you might think you`ve stumbled into the wrong place.

CORBIN MCNEILL ON EXECUTING STRATEGY

The transition of the company over the last 10 years has affected me and my job substantially. I`m an operator by background, so I`ve paid a lot of attention to performance improvement in operations. In the last four years, I`ve become much more focused on strategy and execution of strategy.

Enermetrix gets energy data

Texas AEP Communications, LLC (AEPC), a provider of energy monitoring and communications services, and Enermetrix.com, an Internet commerce energy exchange, developed an interface to transfer energy information from AEPC`s Datapult Monitoring System into Enermetrix.com`s retail energy exchange. The combined technology is used to collect and monitor real-time energy usage for consumers who post buy-orders for electricity and natural gas on Enermetrix.com`s energy exchange.

MICHAEL EGAN ON BEING CONTRARIAN

There are things the world sees that impact our stock value and things the world does not see that affect our financial strength. The most important thing for our financial strength has been leadership and courage to embark on a contrarian strategy.