Concerns

The simmering pot of market concerns regarding the market powerof EnronOnline finally boiled over in public yesterday at Chicago’sLDC Forum. A representative from EnronOnline had to fend off verbalattacks from competitors and from the audience, who criticized thesystem as giving Enron the ability to manipulate prices and provideit with an unfair advantage over competitors.

In response to national concerns over a possible natural gasshortage this winter, the Oklahoma Corporation Commission has givenproducers with unallocated gas wells in Oklahoma the go-ahead tocontinue their increase in production to the limit.

In response to national concerns over a possible natural gasshortage this winter, the Oklahoma Corporation Commission has givenproducers with unallocated gas wells in Oklahoma the go-ahead tocontinue their increase in production to the limit.

Natural gas futures eked out its eighth-straight daily gainyesterday as traders erased early foray into negative territorywith storm-related buying in the afternoon. The September contractled the charge, advancing 4.9 cents to finish at $4.468. Estimatedvolume was light as only 58,956 contracts changed hands.

With growing concerns about the fragility of California’selectricity market under summer peak demand stresses, theCalifornia Independent System Operator (Cal-ISO) Board of GovernorsThursday laid out an aggressive agenda to transform the state’spower market into a “workably competitive” model while narrowlydrawing short of further tightening of price caps. It was thesecond time in a week the Cal-ISO board wrestled with the price capissue.

With growing concerns about the fragility of California’selectricity market under summer peak demand stresses, theCalifornia Independent System Operator (Cal-ISO) Board of GovernorsThursday laid out an aggressive agenda to transform the state’spower market into a “workably competitive” model while narrowlyrejecting further reduction in price caps. It was the second timein a week the Cal-ISO board wrestled with the price cap issue.

Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.

Further fueling concerns that there may not be enough domesticgas supply to meet a 30 Tcf demand market down the road, a newstudy warns the industry likely will face a shortage of productionpersonnel to explore and drill for natural gas if the current trendtowards consolidation, divestiture and downsizing continues.

Federal Trade Commission Chairman Robert Pitofsky Thursdayoutlined some factors the FTC considers in determining whether andto what extent restructuring can save an otherwise anticompetitivemerger proposal. In remarks at the Cutting Edge AntitrustConference of Law Seminars International in New York City hestressed the need for transparency on behalf of federal regulatorsas restructuring proposals become more complex.