The New England Council and the New England Governors' Conference will present "Winter Fuels Outlook: A National and Regional Perspective" in Boston today, offering insight from industry, academic and government officials about the coming months. Massachusetts Gov. A. Paul Cellucci, who also chairs the New England Governors' Conference, will speak, as well as James T. Brett, CEO, New England Council; Roger Cooper, American Gas Association; John Felmy, American Petroleum Institute; and Mark Rodekohr, Energy Information Administration, U.S. Department of Energy. The conference has been called in response to a recent prediction by the DOE that with a "normal" heating season, natural gas prices likely will increase by as much as 50% this winter. Similar predictions have been made about the cost of heating oil. To learn more about today's conference, contact David Graves of RDW Group Inc. at (401) 521-2700, extension 106.
PG&E Corp.'s National Energy Group signed a 10-year tolling agreement with DTE Energy Services, giving PG&E marketing control of its first generation asset in the Midwest power market. Under the terms of the deal, PG&E E Energy Trading - Power LP has contracted for long-term capacity rights at DTEES's 160 MW gas-fired Georgetown peaking facility, located in suburban Indianapolis. The facility began commercial operation June 1. "This partnership gave us a timely entrance into the region's power market. With restructuring gaining a foothold in Michigan, and legislation moving forward elsewhere in the region, PG&E National Energy Group is poised to create tremendous value for customers through both its marketing and generation arms," said PG&E's Sarah Barpoulis.
TradersNews Energy, based in Houston, launched a wholesale power industry hourly pricing index yesterday for the Cinergy trading hub. The index was developed in response to traders' requests for ways to hedge their risks against the market's volatility. The first of several hourly indices is expected to become a benchmark for financial hourly trading and for hedging instruments such as swaps and spreads. The TNI also will allow traders to extrapolate long-term pricing and determine power replacement costs. The index will track the range and weighted average price of trading done for each on-peak hour, Monday through Friday. If no trades are reported for an hour, "indicative" pricing, derived from the tightest bid/ask spreads for that period, will be provided. The index is available at www.tradersnewspower.com.
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