SNL Energy presents the mostread stories for the week ended April 29.
1. Analystsponder Con Edison's motivation behind Crestwood JV
ConsolidatedEdison Inc.'s decision to investin a joint pipeline and storage venture with haspiqued the interest of some Wall Street analysts seeking clarity on the deal'svalue. Jefferies LLC analyst Anthony Crowdell said in an April 22 report that "withoutany growth assumption [the deal] is break-even to slightly dilutive."
2. Spectrakeeps eyes on New England prize after fall of rival gas line
Bill Yardley, president of U.S. natural gas transmission andstorage at Spectra Energy Corp,woke up on April 21 to a changed landscape for pipeline projects in NewEngland. His company's Access Northeast project was still there, but 's NortheastEnergy Direct project, the other big pipeline proposed for the region, wasgone.
3. FERCrevokes affiliate waivers; Ohio PPAs must be submitted for approval
FERC late on April 27 revoked waivers of affiliate powersales restrictions that were granted to FirstEnergy Corp.'s and 'sOhio utilities. As a result, the controversial affiliate power purchaseagreements that are the centerpiece of an Ohio generation subsidy plan willhave to be filed with FERC, and the agency will have to approve them beforethey can be implemented.
4. Drop in oilrigs pushes total counts to another near 29-year low
The U.S. rig count fell sharply again in the week endedApril 22, losing nine to reach 431, according to 's latest .The figures continued to linger at record lows going back to July 1987, whenthe data series first began. The total U.S. rig count is 501 rigs below theyear-ago figure and 1,500 rigs below a peak made at 1,931 in the week endedSept. 26, 2014.
5. Foresightcoal output ticks up from prior quarter, but falls 35% from year-ago
First quarter production at mines was downmore than one-third compared to a year-ago but up 9.6% from the prior quarter.A big chunk missing from Foresight's production profile is the Deer Run coalmine. There, an outage due to high carbon monoxide readings left the mine idledfor months.