SEC

GE Wins Nearly $1 Billion Contract To Build SEC’s 1390 MW Waad Al Shamal Combined Cycle Power Plant

Submitted by aburr on Wed, 2016-01-06 15:37

GE was awarded an EPC contract valued at nearly $1 billion for gas turbine services for the Waad Al Shamal combined cycle power plant of Saudi Electricity Company (SEC). Scheduled for completion in 48 months, the plant will support the phosphate mining operations in the locality. GE will deliver the turnkey power plant, supplying four advanced GE 7F.05 heavy-duty gas turbines and a GE steam turbine. The 1,390-MW combined cycle plant will be able to provide the equivalent power needed to supply more than 500,000 Saudi homes.

Market Manipulation: Staying a Step Ahead

Law, compliance, and case management – plus the blurred boundary between FERC and CFTC.

In the aftermath of 2000-2001 energy crisis, Congress provided federal regulators more authority to crack down on fraud. To do so, FERC must show that the actor possessed the requisite state of mind and establish a connection between the alleged manipulative action and an interstate transportation or sale for resale of natural gas or electricity.
Byline: 

Douglas Canter, Ronald H. Levine, and Abraham J. Rein

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ABB Wins Power Order Worth $78 Million in Saudi Arabia

Submitted by aburr on Wed, 2014-07-09 12:58

ABB won an order worth $78 million from Saudi Electricity Company (SEC), Saudi Arabia's national power transmission and distribution operator. ABB will supply transformers for two new combined-cycle power plants that will boost transmission capacity around the capital, Riyadh, and surrounding areas of the central region. ABB will deliver generator step-up (GSU) transformers, power transformers and station service transformers for SEC's combined-cycle power plants. The order was booked in the second quarter of this year.

Enforcement Times Two

FERC and CFTC begin sharing information to target market manipulation in the energy industry.

Closer coordination between FERC and CFTC (and perhaps also with DOJ) will increase enforcement risk for energy industry traders.
Byline: 

Steven F. Reich, Charles F. Connolly and J. Porter Wiseman

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The Powhatan Matter

Market manipulation versus the right to make a profit.

Harvard professor Bill Hogan claims FERC is wrong to find market manipulation where traders simply make profits on market defects known to all.
Byline: 

Bruce W. Radford

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Rethinking Compliance

Submitted by mburr on Wed, 2012-11-07 15:08
Most companies view Sarbanes-Oxley compliance as purely a burden, but doing it right can yield operational benefits. Automating the process of monitoring, testing, controls, and reporting can improve efficiencies and reduce regulatory risks at any energy or utility company.
Most companies view Sarbanes-Oxley compliance as purely a burden, but doing it right can yield operational benefits. Automating the process of monitoring, testing, controls, and reporting can improve efficiencies and reduce regulatory risks at any energy or utility company.