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Not surprisingly, the energy industry is almost evenly split over the issue of whether FERC should re-impose price caps on short-term capacity-release transactions to the California border, with California regulators, utilities, industrial customers and producers in favor of the action, while interstate gas pipelines, power marketers and independent generators serving the state, and local distribution companies (LDCs) want to stick with the status quo.

The month of May is almost gone and support in the California legislature for the governor’s deal with Southern California Edison was still missing last week, so Republican members crafted an alternative that would not involve sale of the utility’s transmission assets to the state. In the meantime, Democratic state legislative leaders took aim at FERC as did most of the rest of the state government’s elected and appointed officials.

PG&E Corp. moved another step closer to full approval of itsproposed 1,040 MW natural gas-fired plant to be located in MaricopaCounty, AZ. The Maricopa County Board of Supervisors unanimouslyapproved a special use permit for the pending electric generationfacility to be positioned near Phoenix.

New price movement was close to non-existent in almost the entire cash market Wednesday. Only a PG&E citygate uptick, a border-SoCalGas decline and mild Rockies softening provided variation in what was otherwise near-uniform flatness.

Prices continued to fall almost across the board Friday, which was hardly surprising because a pattern of weak weather fundamentals remained in place, June futures dropped more than a nickel in their prompt-month debut, and gas demand typically goes down over a weekend period.

Denbury Resources Inc. has picked up almost all of the working interests in the West Mallalieu and Olive Fields located in southwestern Mississippi and another 14,000 acres in the Barnett Shale gas play in Texas, acquisitions expected to bring the Dallas-based company opportunities for oil and natural gas reserves and production growth.

EMK3 reported that after almost three months of operation it has launched the natural gas component of its online energy marketplace, making it the first marketplace on the block to offer domestic buyers and sellers of both oil and natural gas the ability to electronically acquire and sell production at the source, i.e., from the wellhead.

EMK3 reported that after almost three months of operation it has launched the natural gas component of its online energy marketplace, making it the first marketplace on the block to offer domestic buyers and sellers of both oil and natural gas the ability to electronically acquire and sell production at the source, i.e., from the wellhead.

After careening almost $1.50 lower early last week, bulls atNymex fought back Thursday and Friday as traders glommed on to somemodestly constructive technical and fundamental factors. When allthe dust had cleared and the orders were tabulated, the numbersspeak for themselves. The February contract lost 13% of its value,tumbling 96.3 cents lower, to go off the board at $6.293 Monday.After following in February’s footsteps Tuesday and Wednesday, thenew prompt month, March, erupted $1.036 higher to close the week at$6.743.