Mirant's board of directors elected Robert N. Dangremond as its chief restructuring officer, following the company's...
Utilities to Pool Power, Resources
General Public Utilities Corp. (GPU) and New Jersey Resources Corp. (NJR) have announced a pooling plan to manage the natural gas supply and capacity portfolios for up to 25 gas-fired generating stations that supply the GPU system in New Jersey and Pennsylvania. The pool will contain up to 1,100 megawatts of nonutility generation presently under contract with the GPU companies, as well as the companies' own generation. NJR will procure gas and provide other fuel-management services in conjunction with GPU system power dispatchers. GPU system customers should save several hundred million dollars in energy costs over 10 years. GPU Services Corp. (em on behalf of Jersey Central Power & Light Co., Metropolitan Edison Co., and Pennsylvania Electric Co. (em entered into a three-year fuel-management deal with NJR subsidiary, New Jersey Natural Energy Corp. (NJNE), to manage the GPU system's gas purchases and interstate pipeline capacity. NJNE will operate the pool and market any excess supplies or capacity.
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