Clearly

This week’s uptrend in cash prices continued Wednesday butclearly showed signs of losing momentum. Several points in variousmarkets leveled off with flat showings, and the gains were small,generally less than 4 cents. PG&E citygates saw the day’s mostnotable decline of more than a nickel due to a high-inventory OFOby the utility that is effective today and carries a stringent 3%tolerance for positive imbalances.

Massachusetts’ Eastern Enterprises clearly has embraced theconcept of consolidation and is doing deals to prove it. Fresh fromits acquisition of Essex County Gas, the Boston Gas parent lastweek said it will buy nearby Colonial Gas Co. for nearly half abillion in stock, cash, and assumed debt. The deal grants a 27%premium to Colonial’s closing price preceding the deal’sannouncement.

Retail gas competition in the state of New York clearly needs ajump start, and the New York Public Service Commission (PSC) gaveit one last week. The PSC announced it will force the state’s localdistribution companies to cease selling gas within three to sevenyears.

Retail gas competition in the state of New York clearly needs ajump start, and the New York Public Service Commission (PSC) gaveit one yesterday. The PSC announced it will force the state’s localdistribution companies to cease selling gas within three to sevenyears.

NGC Corp. clearly believes renewable energy is the product ofthe future and has signed an agreement to supply power generatedfrom renewable sources to Green Mountain Energy Resources forretail power customers in California. NGC will supply wholesalepower for two of the three products Green Mountain is selling: itsWater Power blend and its 75% Renewable Power blend, according toTom Boucher, vice president of energy supply and businessdevelopment at Green Mountain. The wholesale power will come fromdifferent types of generating facilities in California and thewestern region, including small-scale hydro, geothermal, andbiomass facilities. A contractual chain will ensure that GreenMountain’s retail customers are purchasing power from a renewableor hydro source, said Doug Boccignone, director of marketing forNGC’s Electric Clearinghouse.