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Industry News 2004 P51



AEP selling coal mines to reduce debt level
American Electric Power Co. has agreed to sell coal mines in Kentucky and Ohio to private equity firm Wexford Capital LLC to reduce debt.

PG&E poised to exit from bankruptcy
Pacific Gas and Electric Co., California's largest power utility, plans to end three years of bankruptcy on April 12, concluding one of the bleakest episodes in a statewide electricity crisis that will haunt customers for years to come.

Environmental group uses nuclear accident anniversaries to promote renewable energy
Three Mile Island & Chornobyl anniversaries are reminders of the risks of nuclear power and the need to shift to sustainable energy sources, an international environmental group asserted.

FirstEnergy tells analysts, investors it's getting its act together
FirstEnergy Corp. of Akron said it's getting its act together -- and Thursday it took that message on the road.

Ohio Utility DPL swaps debt, will pay higher interest rate
DPL Inc. said it has completed a private placement of $175m worth of senior notes, that, together with other corporate funds, will be used to redeem $500m of senior notes on April 6.

Montana regulator, utility CEO clash over natural-gas purchase policies
A Montana utility regulator and NorthWestern Corp.'s top executive clashed Wednesday over the company's natural gas purchase policies.

Berkeley Lab researchers developing high-efficiency solar cell material
Researchers at the Berkeley Lab and other institutions have announced a new solar cell material that may be able to achieve extraordinary efficiency.

ABB wins $30m power contract for Jumeirah and Jebel Ali
ABB has signed a $30m contract with the Dubai Electricity and Water Authority for a substation and heavy-duty gas-insulated switchgear to deliver electrical power to the palm-shaped Jumeirah and Jebel Ali islands.

Senate passes budget to halve deficit in 3 years, protect families from tax increases, and invest in security and defense
The U.S. Senate has recently passed a $2.36 trillion budget for fiscal year 2005 that would halve the deficit in three years. The Senate's passed version did not include a higher allocation for the Yucca Mountain nuclear waste storage project, according to a senator from Nevada.

Guernsey predicts 1,050 Bcf of natural gas stored at heating season end
C. H. Guernsey & Company economists have revised their net natural gas storage estimates based on updated withdrawal and injection forecasts through March 2004.

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