Chicago

Construction Begins on Alliance Pipeline

Moving one step closer to bringing 1.325 Bcf/d of gas fromWestern Canada to Chicago, Alliance Pipeline announced the start ofconstruction with the clearing of 410 miles of forestedrights-of-way for mainlines and laterals in northwestern Albertaand northeastern British Columbia. The entire system is expected tobe completed and in service by October, 2000. Alliance said italready has commitments from 37 shippers for 15-year contractsworth a total of $8.2 billion.

March 5, 1999

CFTC Set to Approve CBOT PJM Contract

The Commodity Futures Trading Commission (CFTC) is expected toapprove Tuesday a proposed Chicago Board of Trade (CBOT) PJMwestern hub electricity futures contract, based on physicaldelivery into the PJM western hub electricity cash market ofPennsylvania, New Jersey and Maryland. The contract is to be tradedalong with the CBOT’s TVA and ComEd contracts, creating a powercomplex to provide risk management to the southeastern, midwesternand northeastern United States. The CBOT announced the proposed PJMcontract in November.

January 15, 1999

Prices Respond to Snowstorm With Large Gains

“That’s what 20 inches of snow in Chicago will do for you,” aHouston-based producer said Monday in reference to the severeholiday weekend blizzard in the Midwest that propelled cash pricesupward by 20 cents or more at many points. What was being calledthe region’s worst winter storm in more than three decades leftfreezing temperatures across the eastern three-fourths of thenation and very strong heating load.

January 5, 1999

Short-Covering Rally Resumes at Nymex

As if taking a cue from the professional basketball team inChicago, the bulls of natural gas were on top again last week atNymex. A short-covering rally that began Wednesday resumed Fridaysending the July contract to $2.284, a 14-cent increase for theday. Estimated volume was a robust 99,631.

June 22, 1998

ComEd Agrees to Cease Program that Favored Affiliates

Chicago’s Citizens Utility Board (CUB) announced it has signed asettlement agreement with Commonwealth Edison (ComEd) thatobligates the utility to terminate its controversial marketingprogram, which was designed to give the utility’s affiliatecompanies an edge in the coming competitive energy market.

February 26, 1998
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