In a move that was largely anticipated ever since electronic commodity trading began to really take off back in 2000, the New York Mercantile Exchange (Nymex) announced plans this week outlining when and how a commodity contract will make the “shift” from open outcry trading over to full electronic trading.
2000
Articles from 2000
El Paso Wants to Close Gap Between Intrinsic Value, Share Price
El Paso Corp. last week reported its fourth straight profitable quarter, the longest stretch since 2000, but the news received a mixed reaction from analysts and shareholders.
El Paso’s Earnings Report Draws Mixed Reaction
El Paso Corp. reported its fourth straight profitable quarter on Tuesday, the longest stretch since 2000, but the news received a mixed reaction from analysts and shareholders.
West Virginia Gas Drillers Face Off with Coal Miners
Success usually comes at a cost, as West Virginia’s natural gas producers are finding.
West Virginia Gas Drillers Face Off with Coal Miners
Success usually comes at a cost, as West Virginia’s natural gas producers are finding.
ICE in Running for NYBOT Merger
One of the youngest commodity exchanges, The IntercontinentalExchange (ICE), founded in 2000, reportedly is the front-runner as a merger partner for one of the oldest, the New York Board of Trade (NYBOT), whose origins as a trader of cocoa, coffee and cotton go back more than 100 years.
San Diego Judge Rules TXU Can’t Exit Pending ‘CA Crisis’ Lawsuits
In a move that essentially keeps all of the major energy suppliers in California during the wholesale market meltdown in 2000-2001 at risk in pending litigation, California Superior Court Judge Ronald Prager in San Diego County ruled Tuesday against Dallas-based TXU Corp.’s contention that it should not be included in a series of 27 civil cases that have been consolidated in the judge’s court. Prager oversaw the multi-billion-dollar class action lawsuit against Sempra Energy and its two California natural gas utilities that was settled earlier in the year in the midst of a jury trial.
Warm Forecast Through December Could Help Natgas Storage Situation
Referencing a standard 30-year normal (1971-2000), WSI Corp. said this week that its forecast for the October-December period is expected to average cooler-than-normal temperatures in the northwestern quarter of the country with warmer-than-normal temperatures elsewhere. If proven true, the forecast could alleviate natural gas supply and storage concerns entering the 2005-2006 winter.
CAISO Asks FERC to Help Eliminate Flaw in Intertie Transactions
A ghost from the 2000-2001 wholesale energy scams that permeated the West has revisited the California Independent System Operator (CAISO) as an offshoot of its implementation last October of part of its comprehensive market redesign. As a result, CAISO has incurred unnecessary higher costs for import and export of power between California and other control areas, and the appearance of so-called “wash” trading where fictional deals take place to boost trading volumes for marketers.
Public Interest Group Proposes Strategic Gas Reserve as Part of Major Market Reform
Although the industry probably won’t have difficulty attaining a near record level of gas in storage for the upcoming heating season, some observers would like to see the federal government exert more control over storage to ensure there is sufficient gas in reserve on a regular basis throughout the year to keep downward pressure on gas prices.