Able

The previous-day screen plunge was able to trump growth in heating load as a cash price influence Tuesday. Some points, primarily in the Gulf Coast and Northeast, were flat to moderately higher, but a decided majority of the market opened the December aftermarket weakly in recording losses ranging from about a nickel to 40 cents or so.

The previous-day screen plunge was able to trump growth in heating load as a cash price influence Tuesday. Some points, primarily in the Gulf Coast and Northeast, were flat to moderately higher, but a decided majority of the market opened the December aftermarket weakly in recording losses ranging from about a nickel to 40 cents or so.

Awash in cash following its utility bankruptcy, PG&E Corp. said Friday it will be able to restore a dividend of $1.20/share during the first half of next year, probably in April 2005 as the result of a $300 million settlement on disputed income tax benefits with its former merchant energy unit and a refinancing of its regulatory asset.

Awash in cash following its utility bankruptcy, PG&E Corp. said Friday it will be able to restore a dividend of $1.20/share during the first half of next year, probably in April 2005 as the result of a $300 million settlement on disputed income tax benefits with its former merchant energy unit and a refinancing of its regulatory asset.

Awash in cash following its utility bankruptcy, PG&E Corp. said Friday it will be able to restore a dividend of $1.20/share during the first half of next year, probably in April 2005 as the result of a $300 million settlement on disputed income tax benefits with its former merchant energy unit and a refinancing of its regulatory asset.

While August natural gas futures on Friday were unable to maintain Thursday’s rally, the prompt month was able to hold on to most of its gains. August closed down 1.8 cents at $6.134 while September futures dropped less than a penny to settle at $6.191.

Sierra Pacific Resources’ Las Vegas-based Nevada Power Co. should be able to dig out from a deep financial hole it has been mired in the past three years through the deal for buying Duke Energy’s half-built 1,200 MW power plant in southern Nevada, according to the top executives of the utility holding company who explained the new deal in a financial analysts’ conference call Wednesday. Natural gas supplies for the plant still need to be obtained.

The market was able to squeeze out one more day of moderate overall price increases Tuesday, but between a sharp reversal in energy futures and warming weather trends, sources don’t expect that to continue Wednesday.

After dwelling in the mid $5.70s for most of the day, May futures were able to find some traction in afternoon trading, climbing up to a $5.83 high before settling at $5.809, up half a cent from Monday’s close. The second consecutive negligible day of trading came as little surprise to market-watchers, who had noted that trading this week was expected to be light due to religious holidays and spring break vacations (see Daily GPI, April 6). Volume on the day was 34,541.