Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!americast.com!usa-post Newsgroups: usa-today.energy,americast.usa-today.energy From: usa-post@AmeriCast.Com Organization: American Cybercasting Approved: usa-post@AmeriCast.com Subject: energy Fri, Aug 21 1992 Date: Fri, 21 Aug 92 04:08:23 EDT Message-ID: 08-21 0000 DECISIONLINE: Energy USA TODAY Update Aug. 21-23, 1992 Source: USA TODAY:Gannett National Information Network ENERGY FUTURES MOSTLY UP: Energy futures were mostly higher on the New York Mercantile Exchange Thursday. September light sweet crude was 7 cents higher at $21.44 a barrel; September heating oil was .27 cent higher at 58.42 cents a gallon; September unleaded gasoline was .47 cent higher at 61.64 cents a gallon; September natural gas was 0.7 cent higher at $1.845 per 1,000 cubic feet. OFFICIALS WANT PERMIT REVOKED: Jacksonville, Fla., officials Thursday said they will try again to revoke the permit for AES Corp.'s Cedar Bay cogeneration plan instead of letting U.S. Generating finish the project as a coal-fired facility. Officials at U.S. Generating, a joint venture of Pacific Gas & Electric Co. and Bechtel Corp., said they would want to keep the facility a coal plant. USE OF POWER LINE DELAYED: A Public Utility Commission judge has delayed the use of a $20 million, 12.8-mile power line near Philadelphia. Judge Herbert Smolen says the commission must first set standards for electromagnetic fields. A spokesman for the Philadelphia Electric Co. says the company will file a strong objection. NRC ASKS FOR COMPLIANCE CHECK: The Nuclear Regulatory Commission has requested utilities licensed to operate boiling water reactors, or BWRs, to determine promptly if they are in compliance with NRC regulations related to the accuracy of reactor vessel water level instrumentation. The effects of non-condensible gas in BWR water level instruments may cause unreliable level indication. UTILITY PLANS THREE RATE HIKES: Southern Indiana Gas & Electric Co. said Thursday it will institute three rate increases over the next two years and cut rates in 1995. The move is part of its plan to comply with Clean Air Act regulations, the company said. Customers will pay a maximum of $106.8 million for the plan, the company said. The utility, state regulators and consumer and environmental groups have agreed. COMPANY TO INSTALL SCRUBBERS: Southern Indiana Gas & Electric Co. says it will install one scrubber on two units at its F.B. Culley Generating Station as well as special burners to cut emissions of nitrogen oxide. The utility said it expects to receive extra emissions allowances and overcompliance allowances if it installs the scrubber by 1995. The extra allowances will be sold to other parties. NATURAL-GAS VENTURE PLANNED: Argentina's state-owned oil company and its Brazilian counterpart will cooperate in a natural-gas venture in Argentina, government officials said Thursday. The Argentinian Yaciminetos Petroliferos Fiscales S.A. and Petroleos Barsileros will invest as much as $8 billion for exploration, development and distribution. YPF will have a 30% stake; Petrobras 15%; the rest will be private. PEMEX SAYS IT WILL NEGOTIATE: Mexico's state-owned oil company Petroleos Mexicanos (Pemex) said it is willing to negotiate with 3,000 laid-off workers who have been camping in downtown Mexico City for three weeks, Bloomberg Business News said Thursday. But Pemex warned its work force not to walk off the job in order to claim severance pay later. EXXON TO SELL DEBT SECURITIES: Exxon Capital Corp. Thursday filed with the Securities and Exchange Commission to sell as much as $1 billion of debt securities and warrants to buy debt securities guaranteed by Exxon Corp. Exxon Capital Corp. is a unit of Exxon Corp. Exxon Capital Corp. now can issue up to $1.1 billion of the securities periodically, on terms to be released at the time of the sale. GULF STATES OFFERING UNDER WAY: Gulf States Utilities said Thursday that it has completed negotiations for the public offering of nearly $48.3 million in pollution control revenue refunding bonds of the Industrial Development Board of Calcasieu Parish. The bonds, which mature Oct. 1, 2012, will bear a 6.75% interest rate, effective Aug. 1. ALA. POWER TO SELL BONDS: Alabama Power Co. Thursday filed with the Securities and Exchange Commission to sell as much as $550 million of first mortgage bonds. Together with a previous filing, the utility may now issue up to $755 million of first mortgage bonds and as much as 4 million class A preferred shares periodically. CINCINNATI GAS TO REDEEM STOCK: Cincinnati Gas & Electric Thursday said it will redeem all its 9.52% and 9.30% cumulative preferred stock Oct. 1. The utility will redeem the 450,000 shares of 9.52% stock and 350,000 shares of 9.30% stock at $101 each. Notices of the redemption will be mailed to all registered owners of the stock. Energy Editor: Beth Mann. (1-919-855-3491) Making copies of USA TODAY Update (Copyright, 1992) for further distribution violates federal law. This article is copyright 1992 Gannett News Service. Redistribution to other sites is not permitted except by arrangement with American Cybercasting Corporation. For more information, send-email to usa@AmeriCast.COM