Prices acknowledged the falloff in weekend demand and widespread Chamber of Commerce-like weather by continuing to slump Friday, but late rebounds were strong enough to astound more than one trader. There wasn’t much consistency in the declines, which ranged from about a nickel or less at a few Gulf Coast, Midcontinent/Midwest and Pacific Northwest points to about 35 cents at OFO-plagued PG&E-related points.
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Enron’s Credibility Rating, Stock Price Plunge
If Houston-based Enron Corp., the acknowledged largest energy trader in the world, had a wish list of things it might want to add to its bartering bag, it might be to trade in this entire year. So far, the news seems to have gone from bad to worse, with business deals gone sour, the CEO abruptly departing last summer, the first quarterly loss in more than four years, rumors of shady business deals, and as of Friday, a plunging stock price that seems to find no floor.
October 22, 2001
Gas Suppliers Cool Toward Serving PG&E
Pacific Gas and Electric Co., the giant San Francisco, CA-basedutility branch of PG&E Corp., acknowledged Tuesday that it isin danger of running short of gas supplies later this winter due tothe venerable utility’s electricity-induced credit woes spillingover to its natural gas operations. “Most” of the company’s 30 to40 interstate gas suppliers are refusing to sell to the giantutility beyond existing contract terms, some of which expire withina few weeks, according to a PG&E utility spokesperson.
January 11, 2001
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