Frontier Energy, North Carolina’s newest gas utility, beganflowing gas in Surry, Wilkes and Yadkin counties. “With more than50 miles of newly installed gas main pressurized, we’re officiallyup and running,” said Andrew Rea, chairman of Frontier Energy. “Injust eight months, we were able to complete the first phase of oursystem and start serving customers.”
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Weekend Prices Ease Back from Long Climb
The cash market took a bit of a breather Friday from the uphillclimb that began last Tuesday. Weekend quotes ranged from minimallyhigher to nearly a dime lower, with most of the softnessconcentrated in the Midcontinent, Midwest citygates, Southwestbasins, northern and southern California borders and intra-Alberta.
Gas-Fired Power Projects Lining Up in CA
State hearings began this week in Sacramento on what could bethe first of more than a dozen new natural gas-fired merchant powerplants built in California in the first years of the next century.A 500 MW, $300 million electric power plant in northern California,the Sutter Power Project sponsored by San Jose, CA-based Calpine,is expected to complete public hearings before the CaliforniaEnergy Commission (CEC) before Thanksgiving, gain a proposeddecision by late December and a final approval for construction inMarch 1999, according to Roger Johnson, CEC siting program manager.
Price Squeeze Sets Back Independents
Results of Burlington Resources, Apache Corp., Vastar Resources,and Union Pacific Resources began the tale of woe that independentproducers’ will be telling with their third quarter earnings. Thecompanies cited a common cause for their malaise – depressed gasand oil prices and liquids margins that are at historic lows.
Columbia Will Serve Three LA Plants
Columbia Gulf Transmission began construction of a new pipelineto serve three Entergy Louisiana generating plants. Columbia Gulfwill deliver up to 100,000 Dth/d to the plants west of New Orleansalong the Mississippi River. Service is to begin in December.
Columbia Gulf Pipe Will Serve Three LA Plants
Columbia Gulf Transmission began construction of a new pipelineto serve three Entergy Louisiana generating plants. Columbia Gulfwill deliver up to 100,000 Dth/d to the plants west of New Orleansalong the Mississippi River. Service is to begin in December.
Prices Continue Rise, But Producer Sees Peaking Sign
Cash prices continued to act like rampaging bulls as Octoberbegan Thursday. Double-digit increases of between 10 and 20 centswere the order of the day almost across the board as traders notedchilly weather in major northern market areas and the fact thatGulf of Mexico production, while nearly back to normal afterhurricane outages, still was missing a few hundred MMcf/d. At leasttwo big processing plants in southeast Louisiana remained shut downdue to storm damage. Cash also built on Wednesday’s big screenrun-up and initially higher futures prices Thursday. Even theNovember contract eventually wound up with a small loss, a traderpointed out.
Futures Retrace Lower on AGA Data
The futures market came under heavy selling pressure earlyThursday, adding to losses that began in the Wednesday eveningAccess session. However, the October contract was unable to broachsupport at $2.075, and buying enabled the prompt month to recoverslightly in the afternoon. October ended the day down 10.3 cents at$2.138.
Tropical Storm Threat Prompts Short-Covering
The futures market began the week Tuesday in the same fashion itclosed out last week – probing higher amid a technical bouncesupported by continued apprehension about tropical storm activity.That enabled the October contract to post a gain for its third dayin a row by advancing 9.1 cents to $1.874.
Con Ed Auctions Generation Assets
Consolidated Edison Co. of New York yesterday began auctioningoff all its fossil-fired generating stations located in New YorkCity. The assets up for sale total about 5,500 MWs of capacity andhave been divided into three groups, or bundles, with each to besold separately to third parties as part of the state’s effort topromote a competitive electric industry.