Peco pays power bill to avert big fines
Article Abstract:
Peco Energy has paid $8.35 million to Grays Ferry Cogeneration Project in an effort to keep off $50,000-a-day contempt-of-court fines in Philadelphia Common Pleas Court in Pennsylvania. The company and two other energy firms own the power facility that produces steam heat for commercial customers and electricity that it sells to Peco. Peco spokesperson Bill Jones said the company had no choice and paid the fine, but is continuing to dispute the rates of the facility in the Grays Ferry section. The payment made by Peco is the latest development in a legal dispute between the partners in the facility over the amount the utility should pay for wholesale electricity in a deregulated market.
Comment:
Pays $8.35 million to Grays Ferry Cogeneration Project to avert $50,000-a-day contempt-of-court fines in Philadelphia, PA, court
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Laclede may close tube plant in Bucks
Article Abstract:
Laclede Steel Co. may close its tube-steel facility in Bucks County in Fairless Hills, PA, or in Alton III, IL, to reduce costs. The St. Louis, MO-based Laclede has registered operating losses of $7.6 million in the second quarter. The plants that manufacture tube and pipe products operated below the company's standard capacity, partly due to Laclede's efforts to focus on selling excess inventory. The 130-employee Fairless Hills plant, which generated approximately $45 million in tube and pipe in 1997, operates in a factory space leased from USX Corp.
Comment:
May close its tube-steel facility in Bucks County in Fairless Hills, PA, or in Alton III, IL, to reduce costs
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1998
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Ravisent tells of a discount plan, and its shares soar; the Malvern firm said it would offer a discounted set-top box for TV Internet browsing. Its shares rose 42 percent
Article Abstract:
Offer a set-top box, keyboard and mouse for Internet browsing on your TV, all at a discount price, and watch your stock price soar-if your company name is Ravisent Technologies Inc. The company has made one arrangement with Mindspring Enterprises Inc., Atlanta-based ISP, and will partner with another company to manufacture the actual boxes.
Publication Name: Philadelphia Inquirer (PA)
Subject: Business, regional
ISSN: 0885-6613
Year: 1999
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