Business Briefs

Issue 8 and Volume 103.

Connecticut Light & Power Co. is selling its fossil and hydroelectric generating plants for approximately $1.3 billion. Northeast Generation Co. of Connecticut is paying $865 million for plants in Connecticut and Massachusetts, including the Northfield Mountain storage facility that is jointly owned by CL&P and Western Massachusetts Electric Co. NRG Energy Inc. is paying $460 million for a fossil-fired plant in Connecticut. CL&P’s parent company, Northeast Utilities, is under a state mandate to decrease the cost of electricity by 10 percent.

Energy Management Inc. is planning to sell its independent power production business, including power plants. Plants for sale include a 68 MW facility in Dartmouth, Mass., a 68 MW plant in Pawtucket, R.I., and a 170 MW facility in Dighton, Mass. EMI owns 50 percent of the Dartmouth and Pawtucket sites, with GE Capital holding the other 50 percent. GE also wants to sell its stake. EMI is developing new plants with Calpine Corp. in Tiverton, R.I., and Rumford, Maine.

Connectiv has announced plans to sell some power plants, cut its dividend and repurchase outstanding stock in preparation for competition.

TEC Resources Inc. is considering building a coalbed methane-fired power plant in northeastern Oklahoma. The plant will be fueled with gas from TEC’s more than 200 coal seam wells. Because the fuel is considered an alternative fuel, the plant could begin selling electricity before the state’s July 2002 electricity deregulation.

Construction is under way at the AES Ironwood power plant. The 705 MW natural gas-fired, combined-cycle facility in Pennsylvania is being built by Siemens Westinghouse Power Corp. All capacity will be sold to Williams Energy Marketing & Trading Co. under a 20-year tolling agreement.

Orange and Rockland Utilities Inc. has completed the sale of all its electric generating facilities to Southern Energy New York. Facilities sold include Lovett, Bowline Point, Hillburn, Shoemaker, Mongaup, Swinging Bridge and Grahamsville.

American Electric Power Company Inc. and Tokyo Electric Power Company Inc. are this year’s recipients of the Edison Award, given annually by the Edison Electric Institute.

AmerGen, a joint venture between British Energy Plc and Peco Energy, is expected to buy two Niagara Mohawk BWRs. The company already bought Three Mile Island 1 and is in the process of buying the Clinton nuclear plant.

CMS Energy Corp. has announced commercial operation at two new gas-fired generating plants in Michigan. Construction was recently completed on the four-unit, 136 MW combustion turbine station near Gaylord and a single unit, 63 MW station in Kalamazoo County.

The first phase of the De Pere Energy Center is complete and operating. The 180 MW facility is producing peak power for Wisconsin Public Service Corp. SkyGen Energy is expected to begin construction on the second phase in 2003.

GE Power Systems has launched GE Energy Rentals to compete in the rental power and temperature control market.

El Paso Power Services Co. is purchasing the Newark Bay Cogeneration Partnership, which owns a 137 MW plant. The purchase from PSEG Global and ENPEX Corp. should close quickly.

Detroit Edison’s Conners Creek facility is up and running after conversion from coal to natural gas.