New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Construction Commences on Enel’s Aurora Wind Farm in North Dakota

Enel Green Power North America, Inc. (“EGPNA”), the US renewable energy company of the Enel Group, has started construction of the 299-MW Aurora Wind Farm in North Dakota.

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Industry News

Williams Said to Be Close to Acquiring Gas Producer

LCG, May 7, 2001Big natural gas pipeline company The Williams Cos. is close to acquiring, Barrett Resources Corp., a large natural gas producer, for more than $2.3 billion in cash and stock, the New York Times reported this morning.

Williams appears to have trumped a hostile takeover bid of Barrett by the Royal Dutch/Shell group. An uninvited $2 billion bid in March by The Shell Oil Co., the U.S. unit of Royal Dutch/Shell, prompted Barrett to put itself up for sale, inviting bids from all comers.

The acquisition would turn Williams into a dominant vertically-integrated natural gas producer, distributor and transportation company by adding Barrett's 2.1 trillion feet of gas reserves to an already robust pipeline and trading operation.

According to persons close to the deal, Williams would pay Barrett shareholders a little more than $70 per share in cash and stock, with the distribution evenly split between cash and stock.

Neither company has commented on the transaction. A Shell spokesman wouldn't comment on the deal but said "We are disappointed that Barrett's management refused repeated attempts to meet with us even after our public commitment to negotiate all terms of a friendly transaction including price."

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