Across

PowerSpring.com, a newly-formed marketer-technology partnership,is rolling out a B2B website aimed at bringing price transparencyto citygates across the country, to tap the next level ofcost-conscious customers, commercial end users, according to JohnHarpole, PowerSpring executive vice president.

PowerSpring.com, a newly-formed marketer-technology partnership,is rolling out a B2B website aimed at bringing price transparencyto citygates across the country, to tap the next level ofcost-conscious customers, commercial end users, according to JohnHarpole, PowerSpring executive vice president.

Rising temperatures again will mean growing tightness in powermarkets across the country this summer. While industry players havemore experience dealing with shortages and constraints, a trulyefficient market with ample power supply depends upon regulators,according to industry executives.

Seeking to improve on their various generation plays across thecountry, Panda Energy International, Inc., signed an $800 millionlong-term service agreement contract with GE Power Systems coveringsix power plants currently under development, Panda said yesterday.The service agreements and commitment represents purchases of 24gas turbines and 12 steam turbines.

Despite warming temperatures across much of the nation andforecasts calling for more of the same, natural gas futuresrebounded yesterday, as traders covered shorts amid heavilyoversold conditions and ahead of potentially “very bullish” storagedata to be released today.

To the surprise of absolutely no one, cash prices plunged acrossthe board Tuesday. It was an easy call to make considering theresidual effect of Monday afternoon’s steep screen dive and warmingweather trends that are likely to get even warmer next week,sources said.

Despite continued above-normal temperatures across much of theU.S., natural gas futures rumbled higher yesterday as local tradersbid up prices in an attempt to set off buy stops positioned abovethe market. However, by Monday afternoon it was apparent they wereonly partially successful, and after notching a $2.255 high theFebruary contract eased lower to close at $2.216, a 4.3-centadvance for the session. Estimated volume was low with 48,189contracts changing hands.

With temperatures across much of the East Coast pushing abovethe 70-degree mark yesterday, natural gas futures traders hadlittle choice but to take prices lower. But in contrast to lastThursday’s price direction, which had the trajectory of a safepushed out of a 10-story building, Monday’s market had a some lifeleft in it, enabling traders to trim losses throughout much of thesession. After reaching a low of $2.805 during the first 30 minutesof trading, the December contract battled back to finish at $2.914,off 4.7 cents for the day. Estimated volume was light with just57,373 contracts changing hands.

As expected, cash prices for the long weekend that ended Maywere down across the board Friday, although not by as much at somepoints as sources had expected. A strong performance by the HenryHub futures contract for July largely failed to counteract a lot ofmild weather and the gas demand slump that nearly alwaysaccompanies a holiday period. The changes varied widely from barelyoff a penny or two to as much as 15 cents down, with almost everydegree in between represented.