Acting

Acting swiftly on the pipeline’s plea for an extension, FERC last Monday said Southern Star Central Gas Pipeline could take an additional six months to complete construction and place into service a proposed lateral in Missouri.

Acting swiftly on the pipeline’s plea, FERC on Monday said Southern Star Central Gas Pipeline could take an additional six months to complete construction and place into service a proposed lateral in Missouri.

A federal bankruptcy judge in New York last week endorsed Enron Corp.’s selection of bankruptcy specialist Stephen F. Cooper as acting CEO of the embattled company, after the Securities and Exchange Commission (SEC) abandoned its opposition to his appointment.

The market was back at it Friday, acting contrary to logical thinking in some traders’ minds. Eastern points were mostly flat overall, but ranging from mildly softer to more than a nickel higher at a few Northeast citygates despite weather in most areas that didn’t appear to justify relative firmness. Meanwhile, an honest to goodness winter storm was moving eastward into the Rockies, yet numbers were down by a nickel or more at most western points.

FERC Chairman Pat Wood III this week named Cynthia A. Marlette acting general counsel at the Commission, effective immediately, and also announced the appointment of Kevin F. Cadden to head the federal agency’s office of external affairs.

Acting on the mentality that Tropical Storm Barry was innocent until proven guilty (see Daily GPI, Aug. 3), natural gas futures tumbled lower Friday morning as traders re-initiated shorts that they had covered just 24 hours prior. As of noon (EDT), the September contract was 19.7 cents lower at $2.995. The market then proceeded sideways for most of the afternoon as sellers took a breather to monitor the storm. They were not finished however, and after gaining confidence the storm was not going to re-intensify Friday, sellers conspired for one last push lower. At the closing bell, the September contract was 22.1 cents lower at $2.971.

Acting on recent Ohio legislation aimed at making natural gas customer-choice programs in the state more “consumer-friendly,” the recently formed Northeast Ohio Public Energy Council (NOPEC), the nation’s largest public energy aggregated buying group, reported that it has entered into a one-year contract with Shell Energy for natural gas services to residents of the 95 NOPEC communities.

Acting on recent Ohio legislation aimed at making natural gas customer-choice programs in the state more “consumer-friendly,” the recently formed Northeast Ohio Public Energy Council (NOPEC), the nation’s largest public energy aggregated buying group, reported that it has entered into a one-year contract with Shell Energy for natural gas services to residents of the 95 NOPEC communities.

With California acting as the out-of-step market yet again,overall swing prices ranged from flat to moderately higher Monday,with Pacific Northwest points achieving gains of 12-20 cents. Awinter storm that developed over the Upper Plains during theweekend was moving eastward and was largely responsible for themild post-weekend rally, sources said.