Mergers & Acquisitions
NSP + New Century. The Federal Energy Regulatory Commission OK'd the merger of Northern States Power Co. (NSP) and New Century Energies Inc. (NCE), to form Xcel Energy Inc., on condition that the new company would join the Midwest Independent System Operator. FERC Docket No. EC99-101- 000, Jan. 12, 2000, 90 FERC ¶61,020.
* Rate Pancaking. The FERC found no problem with transmission rate pancaking with the MISO condition, even though NCE subsidiary Southwestern Public Service Co. (SPS) belongs to the rival Southwest Power Pool.
The West Virginia Public Service Commission (PSC) has authorized Mountaineer Gas Co. to set up a method to compensate interruptible transportation customers for "banked" over-deliveries eventually used by other sales customers. The company historically permitted its transportation customers to bank excess volumes, and used the gas to reduce purchases for sales customers.
Under the new method, the company will buy current and future banked supplies at a "market determined" rate.