United Parcel Service of America, Inc. (UPS) and Duke/Louis Dreyfus, LLC have struck a two-year deal to seek ways of lowering energy costs at UPS locations in 14 states.
Tokyo Electric Power Co. awarded a $500-million contract to GE Power Systems to design and build a 1,400-Mw advanced combined-cycle power plant. GE will supply four gas turbines, four steam turbines, and four generators. Additional equipment and services will be supplied by Foster Wheeler and three Japanese companies. All four units should be in service within the year; commercial operation is planned for February 1999.
Destec Energy, Inc. has purchased a 45-percent share in natural gas properties and undeveloped acreage from Snyder Oil Corp. for $22 million. Located in northwest Colorado, the properties include 101,000 undeveloped acres. Total proved gas reserves for Destec's interest are estimated at 42 Bcf. Snyder will retain a working interest and operate the wells. A joint venture agreement covers the long-term development of properties and pipelines.
U.S. Generating Co. reached a $9.2-million settlement with Boston Edison Co., resolving a dispute over a proposed power-purchase agreement for a cogeneration project in Lynn, MA. According to USGen, the project won a DPU-sanctioned competitive bidding solicitation issued by Boston Edison in 1991-92.