THE POWER PLANTS OF AT LEAST FIVE UTILITIES IN NEW England and California get swapped this year for more than $5.3 billion. And happily, those holding bonds on the plants will be given cash for...
Nearly 18 million households are strong candidates for conversion to natural gas heating. So says the
American Gas Association (A.G.A.). The AGA estimates that 7.6 million natural gas customers don't use gas for heating and about 10.2 million households lack gas service, although it is available in their neighborhoods. To maintain its heating market dominance, the industry plans to promote the advantages of gas to homebuilders as well as to existing and potential customers.
The Securities and Exchange Commission has approved a new General Public Utilities Corp. subsidiary (em GPU Generation Corp. The company will operate, maintain, and rehabilitate GPU's 91 nonnuclear generating plants in New Jersey and Pennsylvania. The new company will use the trade name GPU Genco. SEC approval was the last regulatory step; utility regulators from both states have already signed off.
Westinghouse Electric Corp. has received orders for power generation equipment from companies in Toronto and Seoul. For Whitby Cogeneration, L.P. of Toronto, Westinghouse also will provide maintenance. The plant will use a 50-Mw, Rolls-Royce Trent aeroderivative gas turbine, in a Westinghouse EconoPac electrical generation system. Operation should begin at the end of this year. Hanwha Energy Co., LTD, a Seoul oil company, has bought three 100-Mw combustion turbines fueled by treated low-sulphur, wax, residual, heavy oil. The power will be supplied to Korea Electric Power Corp. starting in June.
Marubeni Corp., a Japanese general trading company, has agreed to buy a 29-percent stake in Sithe Energies, Inc., one of the largest U.S. IPPs. Sithe (em whose 1995 revenue was about $700 million, more than double its 1994 figures (em operates 24 plants, putting out 2,000-Mw of generating capacity in North America and China. t
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