Advertisement

O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Newport Generation Secures Gas Supply

April 26, 2001

Newport Generation Inc., an independent power producer that develops and buys power generation assets, said it has secured delivery of Canadian natural gas for projects the Irvine firm is developing. Financial terms were not divulged.

Newport said in a press release that it will get 175,000 decatherms a day. A decatherm, which rose in price from $3 a year ago to nearly $10 in December, equals 1,000 cubic feet of natural gas; U.S. prices have since settled near $5.

The company said the gas, coming through the 612-mile pipeline operated by PG&E Corp.'s National Energy Group, will be used mainly for its Wallula Power Project, a 1,300-megawatt gas-fired facility planned for an industrial area eight miles south of Pasco, Wash. The plant is being developed by Newport affiliate Newport Northwest LLC.

Advertisement
Los Angeles Times Articles
|
|
|