Except for flat to softer numbers for California, intra-Albertaand some Rockies points, prices advanced between about a nickel and15 cents Tuesday. But traders who attributed Tuesday’s increases toMonday’s screen rise, were assessing a similar carryover fromdeclining futures Tuesday, which they credited with bringing onlate Tuesday retreats in many markets and predictions of moderatesoftness in today’s cash trading.

Curiously, despite reports of very strong power generation loadin California and no high-linepack OFOs by the state’s LDCs,PG&E citygates and the Southern California border were amongthe rare points experiencing slight downturns. Temperatures will bepushing into the 100s today throughout much of California and thedesert Southwest, said one trader, “and all my [generation]turbines are whirring.” Cal PX 16-hour peak power prices for todayaveraged over $350/MWh, he said.

Even with California relatively soft, extreme heat ineast-of-California markets helped prices in the Southwest basinsjoin in the overall gains, according to a marketer.

Meanwhile, it’s chilly enough in the Northeast for wearingjackets, so air conditioning load there dropped to essentially nil,a marketer said. But, he added, it’s not quite chilly enough togenerate much heating load either. Still, Northeast citygatestended to see some of Tuesday’s larger gains. It’s expected tostart warming into the 80s Thursday after one more day of coolness,the marketer said.

Texas Eastern M-3 saw a wide range of over 20 cents. One buyerwho picked up a package in the low $4.60s, around the day’s averagefor M-3, said he hadn’t planned to get any more gas after that butcouldn’t resist a couple of more relative bargains after prices haddropped very late into the high $4.40s.

Intra-Alberta quotes were hit with the double whammy of tradingall day with a softer screen and by a NOVA tolerance change at noonto combat rising linepack. Prices started at C$5.05, approximatelyflat from Tuesday, but began dropping sharply after the tolerancechange notice came out and wound up in the C$4.70s, a Calgarytrader said.

Naturally speculation about today’s AGA storage report was rife.Most prior estimates centered around a 70 Bcf injection. Onemarketer said his guess was 68 Bcf, which he would considerneutral. “Anything below 60 [Bcf] is bullish and anything above 75is bearish,” he added.

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