Tag / 2003

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2003

Analyst Sees Storage Surplus Over 10-Year Average by Late April

With expectations rising for a projected natural gas storage surplus of nearly 600 Bcf (versus 10-year norms) by late April, the gas-to-resid spread should range between minus 50 cents/MMBtu to plus $1.00, implying a “likely” May Henry Hub bidweek price of $5.75-7.25/MMBtu, according to Stephen Smith Energy Associates.

March 26, 2007

CUB Seeks $143 Million in Customer Refunds From Nicor Gas

Continuing to rally against allegedly unjust practices by Nicor Gas, the Citizens Utility Board (CUB) claims that the utility owes customers $143.3 million in refunds, or about $75 for the average customer, as a result of a complicated scheme the company allegedly embarked on to defraud consumers at a time when they were paying record high gas prices.

July 10, 2006

Pepco, Mirant Reach $520M Settlement to Resolve Litigation

Potomac Electric Power Co. (Pepco) and Mirant Corp. have reached a proposed settlement of all litigation between the companies arising from Mirant’s 2003 bankruptcy and related matters.

June 5, 2006

Industry Experts: Federal Action Still Needed on NPC Recommendations

Many of the predictions, cost estimates and energy price forecasts in the National Petroleum Council’s (NPC) $30 million study in 2003 on Balancing Natural Gas Policy came up well short of what actually transpired over the last two years, but its policy recommendations remain right on the money, according to many presenters at the Department of Energy’s (DOE) roundtable on Balancing Natural Gas Supply and Demand Tuesday in Washington, DC.

December 21, 2005

Study: Wholesale Power Competition Generated $15B in Customer Savings

Competitive wholesale power markets in the eastern U.S. and Canada produced at least $15.1 billion in customer savings during 1999-2003 and resulted in dramatically improved power plant efficiencies nationwide, according to a study released last Tuesday by Global Energy Decisions Inc.

July 18, 2005

10th Circuit Court Dismisses as Moot Appeal of Ban on ‘Roadless’ Rule

The U.S.Court of Appeals for the 10th Circuit last week dismissed as moot an appeal of a lower court’s decision in 2003 that permanently enjoined the enforcement of the Clinton administration’s “roadless” rule, which had placed more than 58 million acres of forest lands off limits to energy exploration and production, logging and other activities.

July 18, 2005

10th Circuit Court Vacates Ban on ‘Roadless’ Rule

The U.S.Court of Appeals for the 10th Circuit earlier this week vacated a lower court’s decision in 2003 to permanently enjoin the enforcement of the Clinton administration’s “roadless” rule, which had placed more than 58 million acres of forest lands off limits to energy exploration and production, logging and other activities.

July 14, 2005

NPC Study Recommends Phasing Out Offshore Drilling Bans in 2005

In order to offset shrinking production in the traditional natural gas basins in the United States, Congress in two years should begin to phase out the moratoriums that have prevented producers from drilling in promising gas-prone areas of the Outer Continental Shelf (OCS), the National Petroleum Council (NPC) recommended in a much-anticipated study released last Thursday.

June 27, 2005

Chevron, Texaco Merger Creates Top Five Major

Consent order in hand, Chevron Corp. and Texaco Inc. became the latest of the majors to merge, after the U.S. Federal Trade Commission (FTC) gave its approval on Friday. The new company, ChevronTexaco Corp., moves to fifth place on the majors’ list, following arduous negotiations that began more than two years ago (see Daily GPI, June 4, 1999). The companies finally came to terms last October and cinched the deal after Texaco agreed to spin off several of its businesses (see Daily GPI, Aug. 13; Oct. 17, 2000).

May 10, 2005

CEC Remains Concerned about Continuing High Gas Prices

While using 2003 forecast data for the most part, the California Energy Commission (CEC) recently released its latest natural gas assessment, reiterating concerns and observations from last year — mainly about continued historic high wholesale prices and the need for some combination of demand-response and new supply imports to meet future demand.

February 21, 2005