Drop

Natural gas bills for San Francisco-based Pacific Gas and Electric Co. (PG&E) customers are projected to drop an average of 9.2% this January, compared to the same month last year. The combination utility told local Bay Area news media that the lower bills are the result of warmer weather and lower fuel costs.

A 7.1-cent drop by prompt-month futures a day earlier and the usual negative impact of industrial load loss over a weekend were outweighed by forecasts of continued near-freezing lows in much of North America in rallying most of the cash market to moderate gains Friday.

With some additions to heating load in the East being arrayed against a Rockies warming trend and a significant drop by prompt-month futures a day earlier, the result was little price movement up or down at eastern locations Tuesday along with fairly large declines at a majority of western points.

The hits just keep on coming for the U.S. Chamber of Commerce as two more of the country’s largest utilities — Exelon Corp. and PNM Resources — announced plans to drop their memberships over the chamber’s opposition to federal climate change legislation. In an effort to prevent more defections by its membership, the U.S. Chamber last week defended and clarified its position on House climate change legislation (HR 2454).

Canadian natural gas exports to the United States fell by 13% in the first two-thirds of the current international contract year ending Oct. 31. In combination with a 43% drop in border prices, the decline cut export revenues in half, according to the National Energy Board (NEB).

Canadian natural gas exports to the United States fell by 13% in the first two-thirds of the current international contract year ending Oct. 31. In combination with a 43% drop in border prices, the decline cut export revenues in half, according to the National Energy Board (NEB).

To no one’s surprise, prices kept falling at most points Monday as weather-based demand remained weak and the previous Friday’s 17.3-cent drop by October futures in their prompt-month debut continued to put negative pressure on the cash market. However, the restoration of industrial load from its usual weekend decline, along with heat in some areas, allowed quite a few scattered points to be flat to nearly C25 cents higher.

Anticipating another annual gas cost adjustment downward, Intermountain Gas Co. has asked the Idaho Public Utilities Commission (PUC) to drop its retail rates 22.2% for residential customers and 21.6% for commercial customers, effective Oct. 1. The PUC said it will take comments on the proposed net rate decrease through Sept. 9.

Continuing losses of cooling load, a 17.4-cent drop by September futures a day earlier and the usual weekend decline of industrial demand ganged up to depress prices by double-digit amounts at all cash points Friday.