Merchant Plants Becoming Toast of Texas

Texas’ power generation capacity continues to grow with two newmerchant plants, one just coming on line and one announced foroperation in 1999. California-based Calpine Corp. said its 240 MWgas-fired Pasadena 1 Power Plant began producing power for thederegulated Texas wholesale market, just in time to help meet peaksummer power demand. The plant, under construction since 1997, cameon-line three months ahead of schedule and about $21 million underbudget. The $131 million power plant is selling power under short-,mid- and long-term contracts and into the open market. Pasadena 1will generate up to 240 MW.

July 8, 1998

Cash Softness Expected to Continue for Weekend

Cash prices were coming down by as much as a dime or more insome cases Thursday, as was widely expected, and many sourcespredict more of the same for the holiday weekend. A moderatingweather trend in hot areas and coolness in the West, Midwest andNortheast certainly aren’t conducive to any market rally attempts,one trader said. And then there was the futures screen’sleadership, or lack thereof, a marketer said. Northeast market-areaprices were down 3-4 cents at first, then dropped another 3 centsafter seeing the screen’s example, he said. He was getting lateTransco Zone 6 (non-NYC) offers at $2.34 after having bought at$2.36-37.

May 22, 1998

Northern Border Will Jiggle Market

The coming Foothills/Northern Border expansion will impact gasprices and gas flows in several ways, according to a new report byPIRA Energy Group. Foothills/Northern Border will carry 700 MMcf/dfrom Alberta to the Midwest. Completion is expected Nov. 1.

April 30, 1998

What Goes Up (Gas Prices) Now Coming Down

Cash prices continued to drop going into the weekend asexpected. Moderating weather and the usual lower weekend loads werethe obvious reasons for softening, sources said. Despite theoverall downward trend, falls were only 1-3 cents on several pipesin the Gulf Coast and Midcontinent. Again, the points that hadrisen most rapidly earlier in the week-such as Northeast citygates,Northern Natural-demarc and Waha-were the ones seeing the steepestdeclines.

March 16, 1998
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