Electric utilities
UtiliCorp United, a utility company based in Kansas City, Missouri, announced its earnings for the first quarter of 1995. According to the company's statement, earnings available for common shares were $31.7 million, down from $37.4 million in the same quarter of 1994. The decline was attributed
Electric utilities
The Washington Water Power Company, a utility company in the Pacific Northwest, reported slightly higher earnings for both the first quarter of 1995 and for the 12 months ended March 31, 1995. The company attributed the improvement to strong customer growth on its electric and natural gas systems, increased availability
Electric utilities
Baltimore Gas and Electric Company (BGE) has announced its plan to file for a 7.6 percent increase in natural gas operating revenues with the Maryland Public Service Commission. If approved, the rate increase would amount to $30 million and result in a monthly increase of $4.74 for the
Electric utilities
The Public Service Commission of Kentucky has approved a plan submitted by Louisville Gas and Electric Company (LG&E) to comply with ongoing federal, state, and local environmental standards. This plan will result in a slight increase in customers' bills, with a typical residential customer's bill
Electric utilities
Public Service Co. of New Mexico's (PNM) EIP Funding Corp. secured lease obligation bonds have been upgraded by Duff & Phelps Credit Rating Co. from "BB-" to "BB". The preferred stock has also been upgraded from "CCC" to "B". Approximately
Natural gas
As Canada's natural gas industry prepares to export an additional 296 MMcfd to the United States, environmental concerns are mounting. The National Energy Board (NEB) has received multiple bids to export gas, including a proposal from Brooklyn Navy Yard Cogeneration Partners L.P. to ship 26.5 MMcfd
Electric utilities
Public Service Enterprise Group Incorporated (NYSE: PEG) has announced a corporate reorganization, aimed at enhancing its competitiveness in the increasingly deregulated energy market. The reorganization includes the creation of a ventures and services corporation and the establishment of separate business units within Public Service Electric and Gas Company (PSE&
Electric utilities
A major topic of discussion at the Fourth Annual Dept of Energy National Assn of Regulatory Utility Commissioners Natural Gas Conference was the effect of electricity deregulation on the natural gas industry. Conference attendees were divided on whether deregulation would lead to increased or decreased natural gas demand, with some
Electric utilities
The US Department of Energy, 38 investor-owned electric utilities, and the Tennessee Valley Authority have signed voluntary accords to reduce greenhouse gas emissions by 41 million metric tons. This is the largest industry contribution to the President's goal of reducing emissions to 1990 levels by the year 2000.
Electric utilities
Kansas City-based UtiliCorp United, led by CEO Richard C. Green Jr., has welcomed the announcement of an energy services alliance between IBM and Public Service Co. of Colorado, viewing it as a sign of the industry's rapid shift towards competition and innovation. This development follows UtiliCorp's
Electric utilities
CMS Energy Corporation, a diversified energy company, announced its 1994 net income grew to $179 million, or $2.09 per share, a 10 percent increase from 1993 earnings per share of $1.90. Net income increased by 15 percent during the year, while common dividends were raised by 17 percent
Electric utilities
New York State Electric & Gas Corporation (NYSEG) has announced its financial results for the 1994 fiscal year, showing earnings available for common stock of $169 million or $2.37 per share. This is a significant improvement from 1993, where earnings were reduced by 25 cents per share due to
