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The installation of about 41,700 MW of new gas-fired power generation in the Southwest and California over the next three years and the potential addition of 5 Bcf/d of new pipeline capacity out of the Rocky Mountain region over that period could forever end the price depression currently occurring in the Rockies, several experts agreed last week.

Constellation Energy Group CEO Mayo Shattuck expects the shakeout in the energy marketing and trading business to take up to two years and to bring down several more of Constellation’s competitors in that time period.

In a call to action for the energy industry Wednesday, KMPG LLP CEO Stephen G. Butler said the “systemic flaws” revealed by Enron Corp.’s bankruptcy have to be fixed, but warned it will take more than just rewriting accounting rules. Speaking at Cambridge Energy Research Associates’ 21st Annual CERAWeek Executive Conference in Houston, Butler suggested several reforms, including replacing required quarterly reports with information in “real time” to offer a more transparent picture of a company’s health.

In a call to action for the energy industry Wednesday, KMPG LLP CEO Stephen G. Butler said the “systemic flaws” revealed by Enron Corp.’s bankruptcy have to be fixed, but warned it will take more than just rewriting accounting rules. Speaking at Cambridge Energy Research Associates’ 21st Annual CERAWeek Executive Conference in Houston, Butler suggested several reforms, including replacing required quarterly reports with information in “real time” to offer a more transparent picture of a company’s health.

Caught between a bullish short-term weather outlook and a bearish long-term storage situation, traders in the gas pit at Nymex played it safe Friday, electing not to press prices too much in either direction ahead of the weekend. With that the February contract finished the session at $2.204, up 1.9 cents for the day, but down 7.1 cents for the week. Estimated volume was a little less than average, with just 75,087 contracts changing hands.

As part of a stepped-up Capitol Hill investigation into the financial breakdown of the once-powerful Enron Corp., the chairmen of two House panels have called on the energy trader’s outside auditor, Arthur Andersen LLP, to turn over audit records and to make certain employees available to committee staff for interviews. They also have asked former Enron CEO Jeffrey Skilling to be on hand for a visit.

Caught between bearish weather forecasts and slightly supportive technical features Friday, natural gas futures took the path of least resistance and shuffled mostly sideways to close out the week. The January contract settled at $2.568, up 0.3 cents for the session, but down 13.3 cents for the week. Estimated volume confirmed the quiet trading activity as only 65,069 contracts changed hands.

Bush administration officials, Senate energy lawmakers and major natural gas producers last week were at an impasse over when to proceed with legislation calling for the construction of a 3,600-mile pipeline from Alaska’s North Slope to the Lower 48 states.

Bush administration officials, Senate energy lawmakers and major natural gas producers Tuesday were at a impasse over when to proceed with legislation calling for the construction of a 3,600-mile pipeline from Alaska’s North Slope to the Lower 48 states.