Backdrop

Against the backdrop of high levels of natural gas storage injections over the past two months and lower demand levels, the Energy Information Administration (EIA) recently projected that average natural gas wellhead prices will decline this spring and summer, averaging $4.14/Mcf. Although this latest projection represents a significant downward revision of about 50 cents/Mcf from EIA’s previous outlook, the Department of Energy agency continues to believe that it may be a while before wellhead prices return to the level of under $2.50/Mcf seen a little more than one year ago.

Against the backdrop of high levels of natural gas storage injections over the past two months and lower demand levels, the Energy Information Administration (EIA) recently projected that average natural gas wellhead prices will decline this spring and summer, averaging $4.14/Mcf. Although this latest projection represents a significant downward revision of about 50 cents/Mcf from EIA’s previous outlook, the Department of Energy agency continues to believe that it may be a while before wellhead prices return to the level of under $2.50/Mcf seen a little more than one year ago.

As a backdrop to the latest series of blackouts, California Gov. Gray Davis huddled Wednesday in Sacramento with large merchant generators while his chief utility regulator prepared for next week’s electric rate decision. The largest residential users and all businesses will carry the burden of retail price increases up to 52% for some customers. Both low-income and low-energy-consuming residential customers will be exempted for the rate increase.

With the backdrop of California’s continuing energy upheavals, two of the state’s major energy companies announced substantial first quarter earnings increases that were driven largely by the price and supply volatility for power.

With the backdrop of California’s continuing energy upheavals, two of the state’s major energy companies announced substantial first quarter earnings increases that were driven largely by the price and supply volatility for power.

Against the backdrop of NiSource Inc.’s hostile takeover bid forColumbia Energy Group, a number of U.S. and foreign electriccompanies were emerging last week as potential third-party suitorsfor the diversified energy concern.

Against the backdrop of NiSource Inc.’s hostile takeover bid forColumbia Energy Group, a number of U.S. and foreign electriccompanies are emerging as potential third-party suitors for thediversified energy concern.