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Following on the heels of an announcement by Pennsylvania’s attorney general that PPL EnergyPlus didn’t violate antitrust laws in PJM Interconnection’s market, PPL last Thursday received a letter from the U.S. Department of Justice (DOJ) in which the agency said that it had “favorably concluded” its investigation of the company.

This week’s upward march in prices didn’t end Wednesday but did come to a near-standstill. Only Rockies gains of 8-15 cents or so stood out from the vast majority of points that ranged from flat to up about a nickel. Most of those rose less than a nickel, and small declines at about half a dozen scattered points figured into the mix.

It didn’t take a millennium; it just seemed like it at times. Finally, after years of controversy over its route, including protestors on FERC’s doorstep, the Commission last week approved the U.S. leg of the Millennium Pipeline, a 424-mile line from the Canadian border under Lake Erie to the New York City market area, originally proposed in December 1997 [CP98-150].

It didn’t take a millennium; it just seemed like it at times. Finally, after years of controversy over its route, including protestors on FERC’s doorstep, the Commission Wednesday approved the U.S. leg of the Millennium Pipeline, a 442-mile line from the Canadian border under Lake Erie to the New York City market area, originally proposed in December 1997 [CP98-150].

corrected 9/13/02

Surprising more than one trader, the cash market didn’t follow its usual recent pattern of following Tuesday’s screen dive on the following day. Instead, cash was flat to up 50 cents in most cases Wednesday. Most gains were in single digits.

While California regulators drew more attention for what they didn’t do at Thursday’s twice-a-month business meeting, the increasingly split five-member panel did approve a multi-billion-dollar set of energy efficiency programs for local government and community groups statewide as well as a crucial service agreement between Pacific Gas and Electric Co. and the state power-buying agency. However, the verbal jabs commanded more attention.

Although it didn’t seem likely as recently as the middle of last week, the market may be on the verge of a much-anticipated turnaround from its long slide. Except for Rockies/San Juan and California border-SoCalGas declines, Monday’s trading saw flat to moderately higher prices at most other points, and much higher ones at PG&E-related points struggling out of the abyss into which they had plunged following Friday’s stringent OFO.

As one source had predicted, it didn’t take long for the spot pricerecord to be broken again (see Daily GPI, Dec. 7). Despite softness at nearly allother points, the Southern California border kept zooming higherThursday to lift the price bar again to a peak of $53. “Now that’swhat I call breaking a record!” exclaimed a marketer, noting that itexceeded Wednesday’s previous record of $41 by a full $12.