Connecticut regulators, bowing to pressure from marketers, havelowered penalty rates and delayed opening of the market for smallindustrials and large commercial customers of state LDCs until Jan.1.
Articles from Delayed
The start of hourly electricity pricing in California isexpected to be delayed because the state chartered wholesaleelectricity spot market is encountering logistical and technicalproblems. The Board of Directors for the state Power Exchange (PX)meets today to determine how far into July to postpone the openingof the new market. A formal announcement on a new target date isexpected to be made following the board meeting.
The Alliance Pipeline project’s in-service date is expected tobe delayed by about one year, Alliance Pipeline President and CEODennis Cornelson announced yesterday. The massive Canadian gaspipeline project designed to bring 2.3 Bcf/d of supply to theChicago hub from supply basins in British Columbia and Albertalikely won’t start flowing gas until late in 2000 rather than inNovember 1999 because of continued regulatory delays in Canada. Theproject has come under a hail of protests from competitors inongoing hearings in front of Canada’s National Energy Board.
A delayed and abridged trading windup in the March futures contract(see details in futures and news stories) Wednesday put a large crimpin the progress of bidweek activity, sources told Daily GPI. While tosome it was just an annoying wait, others complained of having totrade in the dark. A producer said the cash market had been renderedvery quiet by the phone outages that caused Nymex to shut down theexchange temporarily. “For a while we didn’t even know whether ourorders were filled,” he said. “It’s hard to take a cash position ifyou are unsure where your hedge lies.”