Backing

Backing off earlier proposals to include the California Public Utilities Commission, Gov. Arnold Schwarzenegger Thursday submitted a modified proposal for creating a state energy department with a cabinet-level energy secretary. The department will be centered on a revised state energy commission consolidated with several other energy units — the Electricity Oversight Board and the basically inactive state Consumer Conservation Financing and Power Authority.

Backing off earlier proposals for an all in one strategy, Gov. Arnold Schwarzenegger’s administration announced Monday that the governor will be submitting a modified proposal later this week for creating a state energy department with a Cabinet-level energy secretary. The department will be centered on a revised California Energy Commission (CEC) consolidated with several other energy units — the Electricity Oversight Board and the basically inactive state Consumer Conservation Financing and Power Authority. The California Public Utilities Commission remains outside the fold.

Backing away from the psychological $6 mark, August natural gas futures hit a low of $5.77 in morning trading before making its way back up to settle at $5.818, down 6.9 cents on the day.

Backing up for the most part what Punxsutawney Phil confirmed last month, WSI Corp. last week said it is calling for cooler than normal temperatures during the early spring to be followed up later in the season with warmer than normal weather across most of the nation.

Backing up for the most part what Punxsutawney Phil confirmed earlier this month, WSI Corp. is calling for cooler than normal temperatures during the early spring to be followed up later in the season with warmer than normal weather across most of the nation.

In a favorable step for the state’s suspended electric direct access purchasing program, California’s Supreme Court last Thursday upheld the state regulatory commission’s authority and recent rules laid down for customers who were exempted from the state legislature’s restrictions imposed two years ago. About 15% of the three private sector electric utilities’ load is covered by large customers buying their own power supplies.

Sharply higher numbers Tuesday in both the physical and futures markets left quite a few cash traders puzzled, since they were seeing precious little fundamental support for rising prices.

It wasn’t much, but prices could claim a bit more weather support than they had last week in recording upticks Monday ranging from only a penny or two to about 15 cents. Gains were fairly evenly spread across geographic markets.

Senate Energy Committee Chairman Jeff Bingaman (D-NM) is backing Suedeen Kelly, a University of New Mexico law professor, to fill the next Democratic opening on the Federal Energy Regulatory Commission, which could come as early as June. The re-appointment by President Bush of Commissioner Linda Breathitt, a Democrat whose term is set to expire at the end of June, remains somewhat uncertain at this point.