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The FPL Group/Entergy Corp. union came another step closer tofinality last week as each company’s shareholders overwhelminglyapproved the merger in separate meetings on Friday. The mergerwould result in one of the largest, strongest and cleanest powercompanies in the nation.

A rebound from last week’s swing price weakness came sooner thanmany traders expected, but it happened for precisely the reasonthey had anticipated. “When we finally get some cold weather,prices will start turning upward again” summarized the conventionalwisdom of a number of traders last week.

Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers last week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.

Unlike San Diego consumers for whom skyrocketing utility billscame as a hugely unpleasant surprise, natural gas customers inIndiana have been warned in advance to expect to expect much higherbills this winter. The message to Indiana consumers this week wassimilar to those being broadcast all across the country bygovernment and utility officials anxious to moderate the intensepublic reaction manifest in California.

This week’s price slide almost, but not quite, came to a haltWednesday. Some points were flat and a few managed small upticks,but those were outweighed by small declines that only rarelysurpassed a nickel.

Natural gas prices again came under selling pressure Monday astraders dealt with below-normal temperatures both outside theirwindows and also in the forecast. After gapping lower at the open,the August contract sifted lower throughout the session and dippedbriefly below key psychological support at $4.00 before closing at$4.002, 14.8 cent lower on the day.

Large industrial and commercial gas customers came to thefirst-ever “Natural Gas Summit” in Colorado last week looking to beconvinced that enough gas supply — which is being stretched thinthis summer due to high demand from power generation — exists tomeet their needs. Independent and major producers were more thanhappy to oblige.

Record second quarter earnings at Houston’s El Paso Energy Corp. came from “outstanding growth” in its merchant energy operations, and strong performances in the company’s other non-regulated segments, according to CEO William A. Wise.

Record second quarter earnings at Houston’s El Paso Energy Corp.came from “outstanding growth” in its merchant energy operations,and strong performances in the company’s other non-regulatedsegments, according to CEO William A. Wise.