Utility rates changed at the start of the new year in California, Colorado and Oregon with the biggest shifts occurring at Xcel Energy’s Colorado combination utility. Xcel natural gas utility bills increased 1.55% for residential customers and 5.45% for small businesses, while electric rates dropped 6.48% for residential users and 7.08% for small businesses. In California, Pacific Gas and Electric Co. (PG&E) residential gas charges increased 1.8% as of Jan. 1, compared to December rates, but the new rates are still slightly lower (0.3%) than those in effect in January 2011. PG&E residential electric rates increased compared to December (2.4%) and January 2011 (2.9%). In Oregon, the two electric utilities’ rates went in opposite directions with PacifiCorp’s going up due to its reliance on more coal-fired generation and Portland General Electric’s (PGE) going down slightly due to its greater use of gas-fired and hydroelectric generation. PacifiCorp rates increased 4.4% or $51 million with the “largest single factor” being higher coal costs, said the Oregon Public Utility Commission, which cut $10.9 million from the multi-state utility’s original request. PGE rates dropped 1.3% or $21.8 million due mostly to the replacement of some nonhydro contracts with less expensive gas-fired generation contracts.
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Industry Briefs
State of Washington regulatory commission staff Wednesday lodged allegations against Puget Sound Energy (PSE) that the combination utility improperly charged residential customers for reconnection of their natural gas and electric service in violation of state consumer protection rules. The staff of the Washington Utilities and Transportation Commission (UTC) alleges 1,639 violations by PSE. Those allegations are separate from an ongoing case involving a $104,300 penalty already assessed the Bellevue, WA-based utility for violating an order directing it to correct the use of its “refusal of service” requirements (see Daily GPI, Oct. 27). The UTC staff is asking that more than 1,600 customers allegedly charged a $13 field visit disconnection fee in error be reimbursed by the utility, following an investigation that spanned from March to May this year.
Oilfield Services ‘Bright Spot’ in Economic Picture
Rising exploration and production (E&P) budgets worldwide, in combination with strong oil prices, will drive “robust demand” for oilfield services in North American unconventional oil and natural gas shale plays, as well as in international arenas, according to a special study by IHS Inc.
Oilfield Services Called ‘Bright Spot’ in Economic Picture
Rising exploration and production (E&P) budgets worldwide, in combination with strong oil prices, will drive “robust demand” for oilfield services in North American unconventional oil and natural gas shale plays, as well as in international arenas, according to a special study by IHS Inc.
Technicians Rule; September Scores Double-Digit Gain
September natural gas futures rose Tuesday on a combination of technical buying and weather forecasts calling for greater heat at Midwest points. At the close September had risen 10.4 cents to $3.993 and October had gained 9.9 cents to $3.968. October crude oil gained $1.02 to $85.44/bbl.
Price Declines Continue With No Rally in Sight
Spot prices continued to wither Wednesday due to a combination of relatively moderate temperatures in several regions around the midpoint of what is normally the hottest month of the year and further softness in prior-day futures. And despite continuing deficits of current storage compared to year-ago levels and the five-year average, traders appear unconcerned about inventories, especially with what was generally expected to be a very busy Atlantic hurricane season having little impact so far on Gulf of Mexico output.
Industry Brief
Rapid City, SD-based Black Hills Corp.’s Wyoming combination utility proposed Monday to build and operate a $158 million natural gas-fired electric generation peaking facility in the city of Cheyenne. In a filing to the state Public Service Commission (PSC), Cheyenne Light, Fuel & Power proposed the development of three 40 MW simple-cycle peaking units. If approved by the PSC, the utility plans to begin construction in 2013 and have the facility operable by 2014. Located within close proximity to existing power lines, the proposed plant would provide added tax benefits and electric reliability for customers, according to the utility. Mark Stege, vice president for operations, called the proposal the “right investment” to serve increasing electric demand in the area and maintain “reliability that customers expect from our company.”
Schlumberger’s Reservoir Modeling Systems Build Fan Base
Schlumberger Ltd. is seeing continued strength in its North American operations in part because of its hydraulic fracturing (fracking) technology, which is reducing time and costs to complete a well, management said Friday.
Front-Month Futures Get ‘Double Whammy;’ August Pounded
August natural gas suffered a double-digit loss Wednesday as a combination of front-month selling and spread trading combined to pummel futures. Traders are also anticipating the release of modestly bearish inventory figures from the government Thursday. At the close August had fallen 14.6 cents to $4.217 and September had given up 14.9 cents to $4.222. August crude oil slipped 24 cents to $96.65/bbl.
Heat Extends Rally at Nearly All Locations
The combination of continued warm to hot forecasts in many areas and the return of industrial load from the greater declines of a low-demand holiday weekend generated strong price increases nearly across the board Tuesday. Generally hot weather is expected to continue at least into mid-July in much of the eastern two-thirds of the U.S.
