Constellation Energy weighs sale of gas plants in 2006
Constellation Energy said it is exploring sale of its 3145 megawatts of gas-fired generating plants including Big Sandy in Neal West Virginia to reduce debt. The units span California Texas Illinois and Virginia with a 300 MW Neal peaking plant. Sale could close in 2006 with proceeds used to cut leverage and boost cash flow.
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Million Grant Awards History Teaching Program in Charleston
U S Sen Robert Byrd announced nearly 1 million dollars in federal support for Regional Education Service Agency III to enhance American history education. The three year Teaching American History program funds a professional development plan for history teachers across Boone Kanawha Putnam and Clay counties. Byrd created the program in 2000 to improve history courses nationwide.
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Robert C. Byrd
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D-W.va
Dominion Power could raise Virginia electric rates eight to ten percent
Dominion Virginia Power may raise residential rates 8 to 10 percent next summer to pass higher energy costs to consumers. Gov Kaine amended an energy bill to allow annual fuel rate adjustments through 2010, with SCC approval for shifting portions of increases to later years. Chief executive Tom Farrell noted the potential impact on average residential bills, rising about $9 from $91 in the summer.
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Stocks Fall as Bernanke Hawks Fed Policy Fears Spread
U S stocks drop for a second straight session after Federal Reserve Chair Ben Bernanke signaled vigilance against inflation. The Dow falls 46.58 to 11,002.14, while the S P 500 and Nasdaq slip modestly amid global market selloffs and shifting currency and commodity prices.
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