Bay State Gas Co. has sold its 17.5-percent equity interest in the Masspower cogeneration plant to Energy Investors Fund Group. The sale price wasn't released; Bay State said it was more than book value. The 240-megawatt, gas-fired combined-cycle plant provides steam for Monsanto Co.
Bridgeport, Conn., is the planned site of a $260-million, 520-MW power plant. Duke Energy Power Services, United Illuminating Co. and Siemens Power Ventures signed a letter of intent to build the gas-fired, combined-cycle merchant plant. As majority owner, Duke will provide fuels and market the plant's power.
Duke Power Co. has purchased from affiliates of Louis Dreyfus Corp. the remaining 50-percent interest in the two companies' power marketing joint venture. Duke Power acquired the balance of Duke/Louis Dreyfus for $247 million Aug. 15. The purchase will be amortized on Duke's books over 10 years. The venture will fold into Duke Energy Trading and Marketing.
NorAm Utility Services, in its first utility service agreement in New York, was contracted by National Fuel Gas to replace 20,000 feet of main lines and 300 service lines.