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Business 2007 P3



Energy East shareholders give green light to acquisition by Spain's Iberdrola
Shareholders of Energy East Corporation yesterday overwhelmingly approved the agreement and merger plan with Iberdrola SA, whereby Energy East will become a wholly-owned subsidiary of the Spanish utility.

Privatization of Jordan's electricity generating sector continues
The privatization of the Central Electricity Generating Company (CEGCO) continues with the investment unit of the Social Security Corporation (SSC) purchasing a 9 per cent stake for JD 16m ($23m).

SUEZ acquires 50 per cent share in leading French wind energy producer
Through its subsidiary, Electrabel, SUEZ has made a €321m ($471m) acquisition of 50.1 per cent of Compagnie du Vent, which was the first company to connect wind power to France's electricity grid.

E.ON eyes Gazprom as power plant partner
E.ON, the world's largest utility by sales, is considering building power stations in the UK, Germany and Hungary with Gazprom, the Russian energy group.

German economy minister Glos opposes EU plans to unbundle utilities
German economy minister Michael Glos said he opposes demands by the European Commission to unbundle utilities so that power plants and electricity grids are operated by separate entities.

Entergy to address Vermont Yankee issues
Entergy said it is putting in place corrective actions to address problems related to the recent failure of part of the plant's cooling tower. The Nuclear Regulatory Commission issued an inspection report November 8 saying the plant wasn't performing adequate inspections of a series of water-cooling towers at the plant before one of them collapsed in August.

E.ON, Gazprom mull joint power plant construction
Germany utility E.ON and Russia's Gazprom are considering joint construction of power plants in Europe, E.ON CEO Wulf Bernotat told Kommersant in an interview.

Entergy to spin off non-utility nuclear business
Entergy's board of directors approved a plan to separate the non-utility nuclear business from Entergy's regulated utility business through a tax-free spin-off of the non-utility nuclear business. SpinCo, the term used to identify the new company yet to be named, will be an independent publicly-traded company. In addition, SpinCo and Entergy Corp. intend to enter into a nuclear services joint venture, with equal ownership.

Leipzig recommends GdF's €520m bid for utility stake
The mayor of Leipzig has recommended the bid submitted by Gaz de France (GdF) as a strategic partner in the call-for-tender process for the sale of a 49.9 per cent stake in the Leipzig Stadtwerke (SWL).

Entergy receives $48M from spent fuel lawsuit
Entergy Corp., the owner/operator of Arkansas Nuclear One, was awarded $48.7 million by a federal court because the Department of Energy failed to open Yucca Mountain by the contract deadline. The U.S. Court of Federal Claims released its decision last week.

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