Xcel Energy’s Colorado utility is lowering its gas and electricity retail rates in the first quarter, continuing the downward movement of energy utility bills since the 2010-2011 heating season a year ago. Xcel has asked the Colorado Public Utilities Commission (PUC) to approve a 2-4% reduction in its gas commodity adjustment and a 6.5-7% drop in its residential and small business electric commodity adjustment. Monthly residential and small business gas bills would drop from first quarter 2011 averages of $85 and $347, respectively, to corresponding averages in the 2012 first quarter of $81 and $341. Similarly, electric monthly residential and small business service would go from $67 and $110, respectively, a year ago to $63 and $102 in the first quarter. If the PUC approves the changes, the lower charges would be effective Jan. 1.
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Most Points Keep Falling; Ruby Pipeline Shut
Only a few points in the Pacific Northwest/Northern California area were able to avoid to avoid continuing price drops Monday. As predicted last week, temperatures are dividing into below normal in the West and above normal in most of the East. The post-weekend restoration of industrial demand had essentially no price-boosting impact.
Fund Selling, Weak Technicals Pressure Futures; January Falls
January natural gas swan-dived lower Friday as traders noted a continuing deterioration in both the fundamental and technical dimensions to the market. At the close January had fallen 14.0 cents to $3.317 and February had given up 13.3 cents to $3.353. January crude oil added $1.07 to $99.41/bbl.
Global E&P Seen Beginning Multi-Year Growth Spending Cycle
Exploration and production (E&P) companies are in the early stages of a “multi-year, double-digit growth spending upcycle” around the globe that is characterized by increased drilling in complex geologies on land, as well as deepwater development, according to a new survey by Barclays Capital analysts.
NRG Strategy Sees Growth Despite Low Gas Prices
Princeton, NJ-based NRG Energy Inc.’s strategy for future growth includes natural gas-fired generation regardless of what happens with the continuing low wholesale gas prices, CEO David Crane told a quarterly earnings conference call last Thursday. Crane characterized NRG’s three-pronged focus on gas-fired power, solar and retail energy sales as being able to thrive in a low- or high-priced gas market.
EOG Resources Sharpens Focus on Eagle Ford Oil and Liquids
Natural gas production is continuing to take a back seat to crude oil and natural gas liquids (NGL) production from the Eagle Ford Shale at Houston-based EOG Resources Inc.
Encana to Triple NGLs from Alberta’s Deep Basin
Encana Corp. is continuing its plan to go deep for — and long on — natural gas liquids (NGL), taking the third step in a plan to triple NGL production from Alberta Deep Basin gas production over the next few years.
Encana: More Liquids Coming Up from Alberta’s Deep Basin
Encana Corp. is continuing its plan to go deep for — and long on — natural gas liquids (NGL), taking the third step in a plan to triple NGL production from Alberta Deep Basin gas production over the next few years.
BC Shale Canada’s ‘Bright Spot,’ Report Says
Shale gas prospects in British Columbia (BC) appear to be the sole “bright spot” on a darkening natural gas landscape projecting a continuing decline in Canada’s overall gas production in the years ahead, according to a report recently released by the Conference Board of Canada.
‘Natural Gas Highway’ Beckons Fleets, Global Investors
Natural gas as a transportation fuel has zoomed around the map of North America in August, capitalizing on a continuing price advantage at the pump even with recent falling gasoline prices. Separately, last Thursday, a major U.S. provider of gas transportation fuel and fueling infrastructure received a $150 million investment from three global private investment firms.
