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Business 2005 P8



Doosan moves for Westinghouse
South Korean engineering group Doosan Heavy Industries has confirmed that it has submitted a letter of intent to buy US nuclear power plant-maker Westinghouse Electric from British Nuclear Fuels (BNFL).

Ownership of Chin Chute wind project split three ways
Enbridge Inc. has purchased a one third interest in the 30 MW wind power plant to be built west of Taber in southern Alberta, Canada.

Globeleq sells minority interest in Chile
Globeleq, the emerging markets power company, has sold its minority shareholding in a gas fired generating plant in Chile to Endesa.

Reliant ordered to refund energy crisis overcharge to Edison
Southern California Edison (SCE) has settled a fifth claim against a major independent Californian generator for inflated energy charges during the state's energy crisis in 2000-2001.

Sistema acquires cut price stakes in Russian energy companies
One of the largest private consumer service companies in Russia and the CIS has acquired minority stakes in seven Russian energy firms for over $100m less than the market value.

AEP purchases plant from Reliant for $100m
A subsidiary of American Electric Power is to purchase the Ceredo Generating station from a subsidiary of Reliant Energy for $100m.

Suez bids €11.4bn for remaining Electrabel stake
French power firm, Suez has offered over €11.4bn ($14bn) to complete the buy out of Belgian company Electrabel. If accepted, the deal will be the sector's second largest merger in the world this year.

Court awards AEP $123m in power purchase case
A federal court in the US has awarded American Electric Power (AEP) $123m in the law suit it filed against Tractebel Energy Marketing, now known as Suez Energy Marketing, for breaching a power purchase contract.

Record fuel prices hitting utilities and consumers
Five of Japan's ten major electricity suppliers have recorded year-on-year falls in second quarter profits, blaming the price of crude oil for the downturn.

Profits drop as UES continues break up
The Russian utility, Unified Energy System, has reported a 35 per cent fall in year-on-year net profits as it continues to privatize the national electricity sector.

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