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Industry News 2003 P44



Fire breaks out at Moss Landing power plant
A fire, which ignited Tuesday afternoon during the demolition of an unused oil storage tank at the Moss Landing Power Plant, continued to burn through Wednesday morning.

Summer power outlooks forecasts weak summer
The summer of 2003 will be marked by weak electricity sales and peak demand declines, a new report predicts.

Long-term electricity investments will be local, report claims
All electricity investments will ultimately be local in the long-term, and all will be hybrids of regulated and market risks, according to ESAI in its recent Northeast Power Quarterly report.

FERC takes action in El Paso gas pipeline cases
The Federal Energy Regulatory Commission on Wednesday took action to restore reliable firm service on the El Paso Natural Gas Pipeline system and to put in place proper economic incentives to encourage the development of additional infrastructure to the benefit of all gas users in the Southwestern United States.

Brazilian Minister outlines pool without single buyer
Brazil's mines and energy minister Dilma Rousseff Monday outlined the concept for the new electric power sector model based on a pool system without a single buyer, which she said will provide cheap electricity for consumers and drive down financing costs, reports Business News Americas.

Toshiba to market GE Power's H System
Toshiba Corporation announced Tuesday that it would start marketing combined cycle power plants incorporating the H System focusing on the Japanese market under a previously announced risk and revenue sharing participant (RSP) agreement with GE Power Systems.

UK generators' challenge to zonal charging defeated
London's High Court has rejected the attempt by four power companies to challenge UK energy regulator Ofgem's decision to alter the way generators pay for energy lost in transmission, Ofgem said on Tuesday.

OM initiates major industry study on how to improve capital efficiencies in the energy industry
OM, a provider of transaction technology to the energy and financial services industries, announced that it has initiated an industry-wide study to assess how predictive and accelerated settlement solutions (PASS) can improve capital efficiencies in North American energy markets.

Rare peregrine falcon makes its home at Consumers Energy B.C. Cobb Plant in West Michigan
A pair of proud peregrines have made Consumers Energy's B.C. Cobb Plant home for their three young falcons, becoming only the second known nesting site for the rare birds on Michigan's west coast.

Refinancing deal completed for UAE Taweelah project
The $560m refinancing of Abu Dhabi's first independent water and power project (IWPP), the Taweelah A2, is nearly complete and the debt-equity ratio has been revised to 80:20. National Bank of Abu Dhabi (NBAD) may resort to a bond issue of at least $100m from its total underwritten amount of $155m. As the first refinancing for a power project in the UAE and the Gulf, this could be a template for future refinancing in the region, bankers said.

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