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Western Resources Inc. and Kansas City Power and Light (KCPL) -could be reaching the end of their long-fought merger battle as theKansas Corporation Commission (KCC) approved the merger with someconditions.

It seems like a safe bet that early this week nobody could havepredicted big price increases anytime in the near future. Themarket’s bearish feeling at the time was palpable. But in somethingclose to a mirror image reversal of Tuesday’s big declines, tradersused an awesome display of might by futures to send cash priceshigher by a dime or more across the board Wednesday.

Illinova Corp. of Decatur, IL, parent of Illinois Power Co., could be the first energy company in the country to spin off its generation assets to an unregulated subsidiary.

Illinova Corp. of Decatur, IL, parent of Illinois Power Co.,could be the first energy company in the country to spin off itsgeneration assets to an unregulated subsidiary.

You could have got a nose bleed watching gas futures yesterday.A 1.5-cent gap higher to $2.700/MMBtu at the opening bell triggereda buying panic that sent October Henry Hub futures up 23.9 cents to$2.851. Estimated volume came in at a massive 116,601 contracts.

Williams share prices slid 5% but then rebounded late last weekand analysts adjusted their earnings forecasts following anannouncement that the company expects third quarter earnings pershare to be “substantially below” current Wall Street estimates of20 cents/share. The company said a change in accounting standardsand cooler than normal temperatures in Southern California, itsmajor power sales area, were to blame. But that’s just half thestory.

Rocky Mountain gas producers heard encouraging news on the rolethey could play in helping the industry achieve a 30 Tcf market by2010. Several speakers at the Colorado Oil & Gas Association’sannual conference earlier this month in Denver delivered themessage that it’s largely up to the Rockies to make that kind ofmarket growth a reality.

Rocky Mountain gas producers heard encouraging news last week onthe role they could play in helping the industry achieve a 30 Tcfmarket by 2010. Several speakers at the Colorado Oil & GasAssociation’s annual conference last week in Denver delivered themessage that it’s largely up to the Rockies to make that kind ofmarket growth a reality.

Not even the best financial quarter since the fourth quarter of1997 could prevent BP Amoco from following through with itsjob-cutting plan as the company said it will cut 2,000 morepredominantly US jobs before the year is over. The integratedenergy giant has already slashed 12,500 jobs from the pay roll. Itwould not elaborate on which US jobs would be eliminated.