Bumps

Reflecting estimates for higher than estimated wholesale natural gas costs, the Nevada Public Utilities Commission Wednesday approved a 9.2% retail rate hike for Las Vegas-based Southwest Gas Corp., and the utility immediately issued an announcement warning customers they face higher heating bills this winter. Southwest Gas had asked for a 5% hike, but the regulatory commission on further estimating wholesale prices bumped it up to $30 million.

Reflecting estimates for higher than estimated wholesale natural gas costs, the Nevada Public Utilities Commission Wednesday approved a 9.2% retail rate hike for Las Vegas-based Southwest Gas Corp., and the utility immediately issued an announcement warning customers they face higher heating bills this winter. Southwest Gas had asked for a 5% hike, but the regulatory commission on further estimating wholesale prices bumped it up to $30 million.

Reflecting estimates for higher than estimated wholesale natural gas costs, the Nevada Public Utilities Commission Wednesday approved a 9.2% retail rate hike for Las Vegas-based Southwest Gas Corp., and the utility immediately issued an announcement warning customers they face higher heating bills this winter. Southwest Gas had asked for a 5% hike, but the regulatory commission on further estimating wholesale prices bumped it up to $30 million.

Urging retail customers to seek bill payment plans this winter, the Oregon Public Utilities Commission (PUC) Tuesday approved rate hikes for the state’s three principal natural gas distribution utilities, effective Friday (Oct. 1). Increases will range from 7.9% to 20.6%, attributable to the record high prices in the wholesale gas markets, the PUC said.

Due to market fundamentals that are currently stronger than they were at the beginning of the heating season, Lehman Brothers’ Jeffrey W. Robertson said he has raised his Nymex gas price estimates to $5.00 and $4.50/MMBtu for 2003 and 2004 from $4.50 and 3.75 to reflect the tight supply/demand balance in the natural gas markets.

No bumps in the road so far for HoustonStreet.com, as tradersare motoring to its newest platform to buy and sell oil products.The web-based exchange expanded its virtual garage last Thursday,and now offers crude oil and refined product trading. The expansionadds to HoustonStreet’s energy markets, a cyber marketplace thathas been offering trades on wholesale power and natural gas salesnationwide since last summer.