Party...
as LT would say.."I canna get more power Captain!"
It seems as tho the NG outlook is as LT predicted. Older plants giving way to NG plants. Too bad about the pipeline cancellation. That might crimp PDS which is Canadian, but I doubt it. It is my understanding that they can't fill the pipe(s) they already have! I think most land guys are gas, or at least have the ability to go either way.
Thursday April 23, 11:13 am Eastern Time
Company Press Release
SOURCE: Stone & Webster Incorporated
Energy Management, Inc. and Stone & Webster Sign EPC
Contracts For Two New England Power Plants
BOSTON, April 23, /PRNewswire/ -- Stone & Webster Incorporated (NYSE: SW - news) has signed a contract with
Energy Management Inc., (EMI) of North Dartmouth, MA. Stone & Webster will provide engineering, procurement
and construction (EPC) on two 265MW combined cycle power plants. The plants are scheduled for a financial closing
the middle of this summer.
The sister plants, located in Rumford, Maine and Tiverton, Rhode Island, feature identical designs and technical
solutions. The new plants have no energy sales contracts in place, but will compete in the deregulated market. They are
scheduled for commercial operation in the first quarter of 2000.
New England, which is characterized as having high electricity prices, is an especially attractive market for merchant
plant development. The older- vintage gas and oil-fired steam plants are costly to operate. Stone & Webster experts
predict that new gas-fired combined cycle plants can be built and operated for less than the production costs of some
mature plants.
''We expect a cycle that is somewhat similar to a few years ago in the United Kingdom where the impact of
deregulation spawned construction of many new high efficiency plants. Competition will spark construction of new
merchant plants and the shutdown or refurbishment of older plants to make them more cost effective,'' said H. Kerner
Smith, Chairman and CEO at Stone & Webster. Energy Management Inc. is an owner and operator of power
generation facilities throughout New England. The new plants are distinguished as the second and third combined
cycle merchant plants being developed by the company. A 170 MW facility in Dighton is currently under construction.
''We are pleased that Stone & Webster shared our vision to create the most competitive, reliable, and environmentally
friendly gas-fired electric generating facilities in New England,'' said Jim Gordon, President of EMI.
Stone & Webster is a global leader in engineering, construction, and consulting for the power, process,
environmental/infrastructure and industrial markets.
SOURCE: Stone & Webster Incorporated |
