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Sempra employed 'passive approach' to win Oncor; baseload seen as outdated term

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Sempra employed 'passive approach' to win Oncor; baseload seen as outdated term

Top News

Sempra employed 'passive approach' to tackle Texas, win prized Oncor utility

It took Sempra Energy less than seven months but numerous concessions to complete the complex purchase of a prized Texas utility that slipped through the hands of other large-cap suitors.

Pipelines expect minimal impact from FERC tax policy reversal

Oil and gas pipeline master limited partnerships were quick to reassure investors that a tax accounting change that would reduce some pipeline rates would not substantially impact their balance sheets.

Coal's necessity to US electricity grid a priority to some, a myth to others

A push to support baseload power resources, including coal-fired plants, continues, though some experts say the term is outdated for a number of reasons including trends driving utilities away from running coal plants at full power.

Power

* Federal regulators and the energy industry said power plants were not compromised by the Russian government-sponsored hacking operation on the U.S. power grid, The Associated Press reported.

* Arizona regulators are implementing a temporary moratorium on the purchase, acquisition or construction of natural gas-fired power plants with over 150 MW of capacity until Jan. 1, 2019.

* Massachusetts Gov. Charlie Baker has filed legislation to commit over $1.4 billion to climate change, environmental protection and community investments. The legislation also creates a new clean peak standard for electricity suppliers to increase clean energy usage during periods of high, carbon intensive and expensive electricity demand.

* As a matter of "cooperative federalism," the Federal Energy Regulatory Commission should have included certain conditions in licenses for two West Virginia hydropower facilities even though a state agency missed the deadline for making those conditions mandatory, Commissioners Cheryl LaFleur and Richard Glick said in a partial dissent to a recent agency order.

* Maryland lawmakers rejected two renewable bills on concerns that it would raise costs for ratepayers, The Baltimore Sun reported. The proposed bills would double the state's renewable energy requirement and eliminate all dependence on fossil fuels.

* Hydro One Ltd. and Avista Corp. have reached a settlement in principle with concerned parties over their planned merger. The companies plan to file the settlement agreement with the Washington Utilities and Transportation Commission on or before March 27.

* Black Hills Energy has turned down an offer from two electric associations to buy its assets in southern Colorado. Meanwhile, neighboring Pueblo, Colo., is in the early stages of exploring whether to form its own municipal utility to replace Black Hills' service, and those plans could involve the associations.

* Bids on Xcel Energy Inc.'s power supply solicitation include huge battery offers from NextEra Energy Resources LLC and Tesla Inc., according to the Denver Business Journal.

* Bay State Wind LLC will be working with NEC Energy Solutions Inc. to develop an energy storage solution for its combined offshore wind and battery storage project.

* The Southwest Power Pool set a wind-penetration record of 60.56% on March 16, The Oklahoman reported.

* SunPower Corp. asked for a solar tariff waiver from the Trump administration to help push though with plans to expand U.S. panel manufacturing, Reuters reported.

Natural gas/Oil

* The United States has likely exported more than 1 trillion cubic feet of natural gas from its operating LNG export terminals.

* The Maryland Department of the Environment attached about two dozen environmental conditions to the wetlands and waterways permit it has issued for Columbia Gas Transmission LLC's proposed pipeline in Western Maryland. The pipeline will originate in Fulton County, Pa. and will extend south to Morgan County, W.Va.

* Some of America's independent shale oil and gas drillers might benefit from lower transportation rates on large interstate pipelines after the Federal Energy Regulatory Commission stripped away one of the tax mechanisms that had boosted the pretax income pipeline master limited partnerships can pass through to unit holders, some analysts said.

* The Delaware Department of Natural Resources and Environmental Control is ordering Sunoco Partners Marketing & Terminals to pay a $600,000 cash penalty and an additional $150,000 for an environmental improvement project to address alleged air quality violations related to an unpermitted modification and operation of an emergency flare at the company's Claymont, Del., facility.

* Pennsylvania Department of Environmental Protection issued another notice of violation to Energy Transfer Partners LP for a fluid spill at its Sunoco Mariner East 2 natural gas liquids pipeline, Reuters reported.

* Baker Hughes is stopping production at its Lufkin, Texas facility due to the downturn in the oil and gas industry, the Houston Business Journal reported.

* Encana Corp. is not moving its Calgary headquarters to its Denver office, saying CEO Doug Suttles' move was a personal one, the Calgary Herald reported.

* Shell Canada Ltd. plans to name the prime contractor for its C$40 billion LNG Canada project in April, The Globe and Mail reported.

* Colonial Pipeline Co. reached a $3.3 million settlement with Alabama Attorney General Steve Marshall and the Alabama Department of Environmental Management that resolves state environmental claims on 2016 gasoline pipeline ruptures.

Coal

* Murray Energy Corp.'s KenAmerican Resources Inc. subsidiary in western Kentucky will be allowed to supply up to 100,000 tons per year of 11,700 Btu/lb coal in both 2018 and 2019 under a contract amendment reached between Big Rivers Electric Corp. and Foresight Coal Sales, according to a new regulatory filing.

* Environmental Protection Agency Administrator Scott Pruitt met with White Stallion Energy LLC CEO Steven Chancellor, who was seeking to soften a pollution rule, for a "courtesy call and introductory meeting" on May 22, 2017, according to Politico.

* Coal miners in Southeast Asia are finding it difficult to take advantage of the current uptick in thermal coal prices to restructure their debt, with many of their creditors skeptical that the commodity will remain at the current price level for a sustainable period, analysts say.

Commodities

* Following a 0.7-cent gain to settle at $2.688/MMBtu ahead of the weekend, NYMEX April natural gas futures seesawed overnight leading up to the Monday, March 19, open, as moderate weather associated with spring looks to keep demand subdued in the weeks ahead and allow for a changeover from weekly storage withdrawals to injections. At 7:20 a.m. ET (1120 GMT) the contract was 0.7 cent higher at $2.688/MMBtu while trading from $2.675/MMBtu to $2.697/MMBtu.

* The price of power dailies could favor the upside in the week's opening session Monday, March 19, on the back of prospects for generally elevated demand on Tuesday.

* In the Regional Greenhouse Gas Initiative's first quarterly auction of the year, 100% of the more than 13.5 million carbon dioxide allowances on offer were purchased at a clearing price of $3.79/ton. Results of the March 14 sale were released March 16 and showed the clearing price was down 1 cent from the program's prior auction price of $3.80/ton.

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New from RRA

* The New York Public Service Commission approved on March 15 a three-year joint proposal for Niagara Mohawk Power Corp.'s electric and gas operations, covering the April 1, 2018, through March 31, 2021 period.

Quoted

"Despite this administration's attacks on clean energy, there are plenty of hard-working Americans who are ready, willing and able to train in the wind industry," said Rep. Bill Keating, D-Mass., on a bill in the U.S. House of Representatives that would establish a federal grant program for offshore wind job training and education.

The day ahead

* Early morning futures indicators pointed to a lower opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

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