Although the much-touted electricity restructuring billintroduced by Reps. Steve Largent (R-OK) and Edward Markey (D-MA)would slash the renewable portfolio mandate proposed by the Clintonadministration by more than half, natural gas producers stillaren’t quite satisfied.
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Avista Targeting Growth Through Technology
Although Avista Corp. has yet to garner much attention on WallStreet, the company is expecting its share price will rise as itsstrategy unfolds. Corporate strategy views technology and billconsolidation services as the gateway to a significant nationwidemarketing presence.
Pogo Cuts Back While Wading Deeper Into The Gulf
Although like the rest of the industry, Houston-based PogoProducing Co. has been wrangling with super soft commodity prices,the company is wading deeper into the Gulf of Mexico with a focuson future growth.
Electric Load Helps Generate Higher Gas Prices
Cash prices continued on an upward track Thursday, although thegains were a bit smaller than those posted Wednesday. A fewincreases barely exceeded a nickel, such as at Waha and the HoustonShip Channel, where Texas air conditioning load is growing.Northeast citygates tended to go up about a nickel as a sourcereported storage demand rising there now that the injection seasonis under way. Most other points rose between 2 and 4 cents. It’sthe same old story about why the market has been fairly strong thisweek, a trader said-power generation load, a firm screen andwestern cold.
CA’s First Merchant Plant Nears Starting Gate
Although gas supply and power contracts probably won’t be signeduntil next year, California’s first major merchant generation plantis expected to get its final state regulatory approval next weekand break ground this summer north of Sacramento in Sutter Countynear the agricultural town of Yuba City. A set of environmentalconcessions by the project sponsor, San Jose, CA-based CalpineCorp., pushed it into the lead spot among seven other projectsundergoing the state regulatory approval process. Projectfinancing, gas supply contracts and power supply deals will all bewrapped up in the second and third quarters of 2000, according toCalpine’s Sutter project manager, Curt Hildebrand.
Cash ‘Chases’ Futures Down, Then Back Up
Cash was basically “chasing” the screen Thursday, a marketersaid. Although overall numbers were down by a nickel or more atnearly all points, prices were rebounding in late activity aftertraders saw the Henry Hub futures contract for May overcome anearly dip and head back up.
CNG Restructuring Business Units for Growth
Although 1997 saw record financial results for Consolidated Natural Gas (CNG), the company said last week a management reorganization is needed to ensure further growth. CNG is reorganizing its four local gas utilities and its interstate natural gas pipeline and storage operations.
Futures: Late Softening Trims Early Advances
Although it was nowhere near as dramatic as the price move thatdeposited prices near all-time winter lows, last week’s futuresgains-slowly and steadily-were gaining the attention and acceptancefrom both technical and fundamental traders. And despite a largestorage surplus and continued uncertainty about winter weather, ifprices are able to trend higher into the New Year, the market willlook back at last week’s rebound as the end of the downtrend. Theprompt January contract chopped higher Friday, making daily highsby noon before softening into the closing to finish up a penny at$2.074.
Interior Dept. Opposes Mandatory Pre-Filing Process
Although the use of the pre-filing collaborative process inhydroelectric relicensing cases is still “too new” to determinewhether it would also work for gas pipeline projects, theDepartment of Interior says its supports FERC efforts to promote”pre-filing communications and consultations” with the agency andother stakeholders in the gas arena. However, it agreed withinterstate gas pipelines that participation in the collaborativeprocess should not be mandated.
DOI Opposes Mandatory Pre-Filing Process
Although the use of the pre-filing collaborative process inhydroelectric relicensing cases is still “too new” to determinewhether it would also work for gas pipeline projects, theDepartment of Interior says its supports FERC efforts to promote”pre-filing communications and consultations” with the agency andother stakeholders in the gas arena. However, it agreed withinterstate gas pipelines that participation in the collaborativeprocess should not be mandated.