Draws

FERC should either reject outright or suspend for the maximumfive-month period Dominion Transmission Inc.’s request for a”massive and unsupported rate increase” of $65 million, a municipalgas distributor contends.

Independent power marketers have denounced efforts by theCalifornia Independent System Operator (Cal-ISO) to extend itspurchase price cap authority, fearing it would give the Cal-ISO”unfettered” control over wholesale electric market prices in thestate. But California investor-owned utilities, Southern CaliforniaEdison and Pacific Gas and Electric, and the California PowerExchange (Cal-PX) and California Electricity Oversight Board see anupside to the Cal-ISO’s request.

Independent power marketers are opposed to any extension of theCalifornia Independent System Operator’s (Cal-ISO) purchase pricecap authority, saying it would give the Cal-ISO “unfettered”control over wholesale electric market prices in the state. Butinvestor-owned utility, Southern California Edison, and theCalifornia Power Exchange (Cal-PX) see an upside to the Cal-ISO’srequest.

Out of the multiple commodities now trading on EnronOnlineworldwide, including gas, power, oil, coal, pulp and paper, cleanair credits, bandwidth, weather and credit derivatives,petrochemicals and plastics, North American natural gas still topsthe list of most actively traded. The rapidly growing e-commercesite, which Enron claims is the world’s largest with more than $50billion in transactions so far this year, now consumes much morethan 50% of Enron’s wholesale commodity transactions, includingmore than 10 Bcf/d of in the first quarter.

With 1.6 billion barrels of oil reserves and an unknown quantityof deep-water natural gas reserves scheduled for production in 2003in the Gulf of Mexico, BP Amoco is getting a little nervous aboutlining up some means of transportation to shore.

BP Amoco has 1.6 billion barrels of oil reserves and an unknownquantity of deep-water natural gas reserves scheduled forproduction in 2003 in the Gulf of Mexico but currently there are nomeans of transportation to shore. The company said yesterday it hasformed a new Gulf of Mexico deepwater oil and gas transportationproject team to investigate its options to bring to shore thereserves in the southern Mississippi Canyon, the southern AtwaterValley and the Green Canyon areas of the Gulf.

Producers and marketers denounced a recent request togenerically exclude Outer Continental Shelf (OCS) pipelines fromFERC’s ban on “buy-sell” transactions. They contend Williams EnergyMarketing & Trading’s bid for such a waiver is just abackhanded attempt to gain light-handed regulation on the OCS.

Producers and marketers denounced a recent request togenerically exclude Outer Continental Shelf (OCS) pipelines fromFERC’s ban on “buy-sell” transactions. They contend Williams EnergyMarketing & Trading’s bid for such a waiver is just anotherback-handed attempt to attain light-handed regulation in the OCS.

Major natural gas producers are seeing red flags everywhere inthe wake of Petal Gas Storage L.L.C’s decision to scrap itsoriginal proposal to build three new pipeline interconnects to itsstorage facilities in Mississippi. They contend the proposal hasbeen amended to benefit Petal’s new-found affiliates at the expenseof non-affiliated customers.