Chicago-based J Power USA, a subsidiary of Tokyo-based Electric Power Development Co., Ltd., has begun construction of a 1,200 MW combined-cycle natural-gas fired power plant in Will County, IL, near Chicago, which is the largest residential heating market in the United States and a major natural gas hub.
Articles from Chicago
Illinois regulators last Wednesday voted unanimously to continue what is turning out to be a multi-year investigation of the multi-billion-dollar, 20-year effort by Peoples Gas utility in Chicago to replace more than 2,000 miles of aging pipelines that have become more albatross than opportunity for Milwaukee-based WEC Energy Group Inc.
Natural gas cash for weekend and Monday delivery on average took a pretty hard fall in Friday trading, but the devil was in the details and swooning eastern prices were able to overpower strong Midwest quotes as Chicago’s high Sunday was not expected to reach double digits.
Physical natural gas for Thursday delivery posted strong gains in Wednesday’s trading, boosted by early initial strength in screen prices, flow limitations at eastern population centers and healthy gains in power pricing.
Both cash natural gas and futures bounded higher Friday. Cash buyers didn’t want to get caught short over the weekend before cooler weather expected to knock close to 20 degrees off recent highs. Speculative futures traders elected to enter the market on the long side.
In physical trading Monday for Tuesday deliveries the natural gas market managed to shake off a large chunk of Friday’s 19-cent loss with double-digit gains posted at nearly all market points. TheNGI National Spot Gas Average rose 16 cents to $2.13, and forecasters were calling for cooler temperatures with readings coming in closer to seasonal norms.
FERC on Wednesday granted Natural Gas Pipeline Company of America LLC (NGPL) permission to begin service on Compressor Station No. 312 in Livingston County, IL, otherwise known as the first phase of the pipeline’s Chicago Market Expansion [CP15-505]. Startup is slated for Tuesday, the pipeline told NGI.
Natural gas for next-day delivery at New England points scored some hefty gains in Tuesday’s trading, but that was much the exception to the rule.
Physical natural gas for Tuesday delivery posted solid double-digit gains in Monday’s trading as no points followed by NGI traded in the loss column and most points added more than a dime. The NGI National Spot Gas Average rose 13 cents to $2.26 with the greatest gains seen in the East.
Natural Gas Pipeline Company of America LLC (NGPL) on Tuesday launched open seasons to test interest in expanding two natural gas pipeline systems, the Chicago Market Expansion Project and the Gulf Coast Southbound Expansion Project.