1998

A last-minute protest by Scana Energy Marketing to a requestedwaiver by Atlanta Gas Light to allow assignment of some of itsupstream pipeline capacity as part of the Georgia unbundling planmay have been a factor in derailing FERC action last week.

Prices in nearly all markets outside the Rockies moved a littlehigher Tuesday, but late retreats at many points indicated theaftermarket upticks fueled by producing-area heat may be subsiding.

GFI Energy Ventures of Los Angeles, Caminus Energy Ltd. ofCambridge, England, SS&C Technologies, Oaktree CapitalManagement and RIT Capital partners plc are combining forces toform GFI Caminus, a new enterprise that will provide comprehensiveconsulting services and software technology to the power and gastrading industry.

A white paper released by Prosper Business Development Corp.outlines three phases of revolution occurring in the energyindustry and explains three mistakes marketers must avoid to ensuresuccess in the competitive marketplace. The paper addressesdifferences from telecommunications deregulation and warns of ashakeout for energy marketing executives who fail to respond to thederegulating market.

Amoco’s $1.9 Billion North American exploration and productiondivestment to focus on top producing areas is nearly complete.”These divestments allow us to focus our resources on the mostpromising producing areas in our exploration and productionportfolio, which has given us a higher quality asset position inNorth America,” said L. Richard Flury, executive vice president forexploration and production. “We believe this rationalized assetposition is a step toward reaching our corporate goal of 15% returnon capital employed by 2001.”

The Federal Energy Regulatory Commission last week gave NorAmGas Transmission the go-ahead to proceed with its plan to doublethe number of pooling areas on its system, effective April 1,subject to FERC review of a tariff filing outlining the poolboundary changes.

Energy Pacific launched a new energy service called Power ChoiceCalifornia, which will help companies make electricity buyingdecisions in a restructured marketplace. The company launched theservice through a pilot with Hewlett-Packard earlier this year andwill begin marketing the service in April. “We’re finding that manycustomers just don’t know where to begin when asking energyproviders for price quotes, or even what their energy options are,”said Eric Nelson, president of Energy Pacific, an unregulated jointventure of Pacific Enterprises and Enova Corp.

Subject to certain conditions and a pending a technicalconference, FERC has approved a plan (RP98-140-000) allowingTennessee Gas Pipeline to reserve unused pipeline capacity, sellingit under short-term contracts, up to one year if the capacity canbe used to support a proposed expansion project. The tariff changewas made effective by the Commission on March 25

The April Nymex contract once again failed to break above majorresistance at $2.19 on Tuesday, and as a result, the spot monthfinished the day down 3.2 cents to $2.137. Total estimated volumecame in at 34,371.