Top News
US issues alert on Russian cyberattacks on energy sector, infrastructure
The U.S. government alerted the energy sector and other industries of an ongoing cyberattack campaign by Russia against American critical infrastructure.
FERC strips income tax allowance for interstate pipeline MLPs
FERC will no longer allow interstate natural gas and oil pipelines operating as master limited partnerships to recover an income tax allowance in their cost-of-service rates, stripping many pipelines of a mechanism that had boosted the amount of pretax income passed through to unit holders.
Recently freed of its Central Appalachia thermal coal division, pure-play metallurgical coal producer Corsa Coal Corp. is now eyeing major growth.
Power
* The Federal Energy Regulatory Commission on March 15 acted to ensure that certain jurisdictional electric utility, natural gas and oil pipeline rates reflect the corporate income tax changes required by the tax reform bill passed by Congress in late 2017.
* The U.S. Department of Energy, in its efforts to help the coal power industry, wants to spend $175 million on a program to design at least two small-scale, coal-fired power plants with a capacity of about 200 MW, Bloomberg News reported.
* The Bureau of Land Management Las Vegas Field Office is soliciting public comments on the planned Crescent Peak Wind Energy Project in Clark County, Nev. The project would be built across of 32,531 acres of public land.
* Republican Wyoming Gov. Matt Mead vetoed what he called "imprecisely crafted" legislation that lawmakers passed to try to stop disruptive protests against certain energy infrastructure. Critics contended the bill could have blocked free speech and civil protests, The Casper Star Tribune reported. Lawmakers could not override the veto.
* The Trump administration's hopes of restarting licensing on the Yucca Mountain nuclear waste repository are meeting resistance from Congress despite bipartisan support for the project in the U.S. House of Representatives.
* Alabama Power Co. has begun commercial operations at a 72-MW LaFayette solar facility in Chambers County, Ala., according to a news release. The Centaurus Renewable Energy LLC owned solar project will sell most of its renewable energy credits and output to Walmart under a long term power purchase agreement.
* TransAlta Corp. plans to use land at the Centralia coal mine in southwest Washington to house a 180-MW solar facility. The Canadian power company is currently in the process of obtaining approvals from the Thurston County before signing power purchase agreements for the solar facility, The Associated Press reported citing The Centralia Chronicle.
* Consumers Energy announced plans to build a new $20 million headquarters in Grand Rapids, Mich.
Natural gas/Oil
* A key NuStar GP Holdings LLC shareholder rebuked a recent takeover offer by Energy Transfer Equity LP, with the shareholder preferring the general partner's announced plans to merge with master limited partnership NuStar Energy LP.
* The Public Utilities Commission of Minnesota signed off on the environmental review for Enbridge Energy Partners LP's Line 3 crude oil pipeline replacement projects, declaring the review as "adequate."
* Energy executives and industry leaders used their appearance at one of the world's biggest energy conferences to renew a push to avoid new costs on commodities traveling across North America.
* The North Dakota Public Service Commission approved two new oil and gas projects in the state, one refined fuels pipeline upgrade and the second a natural gas processing plant. The two projects are expected to contribute more than $250 million in economic activity for the state, The Bismarck Tribune reported.
* Houston, Texas-based EnerVest Ltd. announced it plans to file for bankruptcy protection, The Houston Chronicle reported. "During the restructuring and upon emergence, we expect to have ample liquidity and do not anticipate the need for debtor-in-possession financing or other additional capital," EV Energy CEO Michael Mercer said.
* Royal Dutch Shell PLC is close to completing a deal to supply LNG to Hong Kong utility CLP Power Hong Kong Ltd. under a long-term purchase agreement, Reuters reported. Under the deal, Shell will deliver about 1.2 million tonnes per year of LNG for about 10 years beginning after 2020.
* Long-time oil and gas executive Tom Ward and a private equity firm are teaming up for a joint venture to buy oil and gas properties across Oklahoma and Kansas. Ward's Mach Resources LLC and Bayou City Energy Management LLC formed a joint venture BCE-Mach LLC, according to a news release.
* Vitol Services Ltd., the crude and petroleum products trading company, announced its CEO Ian Taylor will step down to become chairman. Russell Hardy will succeed Taylor, The Financial Times reported.
Coal
* Paringa Resources Ltd.'s new Poplar Grove coal mine project in Kentucky is nearing completion, with construction back to full capacity after weather-related delays.
* Total U.S. coal rail traffic for the week ended March 10 inched up 5.2% year over year to 83,696 carloads, according to data from the Association of American Railroads.
Commodities

New from RRA
* In filings tendered over the last several days, the state's energy and water utilities responded to the Pennsylvania Public Utility Commission's directive that the companies file comments concerning the revenue requirement impact of the 2017 Federal Tax Cuts and Jobs Act, or TCJA.
* Possibly the biggest financial issue confronting California's utilities involves the state's propensity for significant wildfires and the rate recovery of the resultant restoration and liability costs.
Quoted
Power sector companies "have to continuously reinvent ourselves as an industry at a faster pace. If we don't do that as a company ... we'll just be a puddle in the sand," CEO of Siemens Power Generation Services Tim Holt said at the U.S. Department of Energy's Energy Innovation Summit.
The day ahead
* Early morning futures indicators pointed to a mixed 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.
The Daily Dose is updated as of 7:30 a.m. ET. Some links may require registration or a subscription.
