Alex Steis

CME Group reported last week that due to a “technical issue” fractional changes have been made to the contract expiration prices of 10 Nymex energy products and related instruments settled between May and October 2013. This is the second time in less than a month that CME has had to issue an energy contract-related settlement revision.

The Chevron Corp.-operated West Texas Liquefied Petroleum Gas System pipeline located near Milford, TX, that exploded Thursday morning resulted in a fire that was still burning late Friday afternoon, according to the company, which on Friday morning was also dealing with an unrelated refinery fire in Pascagoula, MS, that resulted in one death and one injury.

A Chevron Corp.-operated West Texas Liquefied Petroleum Gas System pipeline located near Milford, TX, exploded Thursday morning at 9:30 a.m. CST, forcing the company to initiate emergency response procedures as the rural town was evacuated.

FirstEnergy Corp.has announced that it plans to invest an additional $2.8 billion over four years to expand its previously announced “Energizing the Future” transmission initiative, with the main focus of the initial construction effort being the 69 kV transmission power lines and substations in the Ohio Edison, Cleveland Electric Illuminating Company, Toledo Edison and Penn Power areas. The program is expected to be expanded into other FirstEnergy service territories during the next several years. Overall, the new transmission projects are designed to increase FirstEnergy’s load serving capability in areas where future economic growth is anticipated, particularly in Ohio’s shale gas regions; improve reliability of service; create more flexibility to restore service following storms; reduce line losses; and lower the company’s overall transmission maintenance costs. Many of the projects — including new or rebuilt high-voltage power lines, new substations, and the installation of specialized voltage regulating equipment — are needed to help support system reliability as coal-fired power plants in the region are deactivated based on the U.S. EPA Mercury and Air Toxics Standards and other environmental rules.

EnerVest Ltd. reported Monday that it is on target to clear more than $1 billion in oil and natural gas asset acquisitions within the United States for the fourth year in a row. In 2013 the company is adding to its Midcontinent, Barnett Shale and San Juan Basin acreage, in addition to snapping up its first piece of the Uinta Basin in Utah.

U.S. natural gas-fired power generation fell 14% in October from the year-ago month due to lower electricity demand and more power from renewable and nuclear sources, according to Genscape Inc. Surprisingly, the decline in gas-fired generation occurred even though a significant number of coal-fired plants were offline during the month.

In a private notice sent to CME Group clearing members on Friday, the trading exchange said it made a revision on Oct. 30 to the November 2013 natural gas futures contract expiration that occurred on Oct. 29.

Looking to balance its current power portfolio while adding generation to meet increased customer demand, Duke Energy subsidiary Duke Energy Carolinas filed an application with the Public Service Commission of South Carolina (PSCSC) seeking approval to construct and operate a 750 MW natural gas-fired combined cycle plant at the existing Lee Steam Station in Anderson County, SC.

Noting that the United States is in the midst of an energy transformation, a new nonprofit launched by industry and business groups, Our Energy Moment (OEM), is hitting the streets to advocate for increased shale resource exploration, aswell as U.S. liquefied natural gas (LNG) exports.