Declined

San Francisco-based PG&E Corp. spent nearly $4 billion on utility capital infrastructure investments last year, but its profits nevertheless declined quarter-over-quarter and year-over year at the end of 2009, the combination utility reported Friday.

San Francisco-based PG&E Corp. spent nearly $4 billion on utility capital infrastructure investments last year, but its profits nevertheless declined quarter-over-quarter and year-over year at the end of 2009, the combination utility reported Friday.

In an unusual move, Blue Sky Gas Storage LLC has declined a certificate from the Federal Energy Regulatory Commission to construct and operate a natural gas storage field and related pipelines in Colorado, citing limited access to capital and credit to pursue the project.

In an unusual move, Blue Sky Gas Storage LLC has declined a certificate from the Federal Energy Regulatory Commission to construct and operate a natural gas storage field and related pipelines in Colorado, citing limited access to capital and credit to pursue the project.

New Mexico’s coffers took a hit due to weak oil and gas prices during the first quarter of the state’s 2010 fiscal year as collections by the State Land Office declined $104 million from the year-ago period when $194 million was collected.

Demand for heating and cooling has declined over the last 50 years as the U.S. population has migrated to moderate and warmer climates, a university researcher has found. Decreases range from 6% to 12% depending upon the calculation methodology used.

Demand for heating and cooling has declined over the last 50 years as the U.S. population has migrated to moderate and warmer climates, a university researcher has found. Decreases range from 6% to 12% depending upon the calculation methodology used.

Saying the cost of buying natural gas has declined “significantly” in recent months, Questar Gas asked the Public Service Commission of Utah (PSC) to reduce natural gas rates by $6.7 million, a move which would lower a typical residential customer’s annual bill by about $3.50 (0.5%). If approved, the rate cut would go into effect Oct. 1. Questar cut natural gas rates by $63 million (5.3%) last November and $157 million (16%) in March. Earlier this year the PSC approved a Questar request for an immediate $50 million one-time rebate to its customers (see Daily GPI, April 22). The rebate, which was also prompted by lower natural gas prices, reduced the typical customer’s May natural gas bill by $40-45, Questar said. Twice a year Questar and the PSC use third-party forecasts of gas prices to estimate how much the utility’s rates should be adjusted to cover anticipated gas procurement costs.

Natural gas and crude futures continued to sink on Wednesday as bullish fundamentals for each commodity remained elusive. August natural gas declined by 7.6 cents to close at $3.353 while August crude futures plummeted $2.79 to close at $60.14/bbl.