With linepack building as recent record-high temperatures in California ease, Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO for Thursday. The tolerance for positive daily imbalances is zero, and penalties are $1/Dth.
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S&P: Hedging Techniques Could Ease Energy Merchant Turmoil
To remedy the financial turmoil that exists for U.S. energy merchants still operating, an analyst with Standard & Poor’s Ratings Services (S&P) suggested Thursday that they should consider relying more on “trading around their assets” by hedging and other risk-management activities.
S&P: Hedging Techniques Could Ease Energy Merchant Turmoil
To remedy the financial turmoil that exists for U.S. energy merchants still operating, an analyst with Standard & Poor’s Ratings Services (S&P) suggested Thursday that they should consider relying more on “trading around their assets” by hedging and other risk-management activities.
MISO, TVA and PJM to Boost Eastern Interconnection Liquidity
Seeking to ease the flow of power across a big chunk of the Eastern Interconnection, the Midwest Independent Transmission System Operator (MISO), PJM Interconnection and the Tennessee Valley Authority (TVA) on Wednesday announced plans to pursue the development of a multi-regional approach to strengthen electric transmission, operations and related transactions.
Energy Industry Asks Senate to Ease Land Restrictions
Echoing one another before the U.S. Senate Committee on Energy and Natural Resources, representatives from production, pipeline and utility companies, as well the Energy Information Administration (EIA), agreed that the current high natural gas prices are a sign that the market is actually working — not broken as some suggest.
Industry Tells Senate to Ease Land Restrictions
Echoing one another on Tuesday before the U.S. Senate Committee on Energy and Natural Resources, representatives from production, pipeline and utility companies, as well the Energy Information Administration (EIA), agreed that the current high natural gas prices are a sign that the market is actually working — not broken as some suggest.
AEP: Response to Debt Offering Should Ease Liquidity Worries
Lingering concerns in the minds of some investors as to whether American Electric Power (AEP) is facing a liquidity crunch should be eased in the wake of a recently close debt offering by four of the company’s subsidiaries that yielded more than $2 billion in proceeds, a top official with AEP told a gathering of investment professionals last week.
S&P Sees Gas Prices Moving On Up in 2003; Revises Forecast
Natural gas and oil producers are resting at ease as natural gas prices are poised to end 2002 near $5.00/MMBtu and oil prices are clinging to $26/bbl, noted a new report by Standard & Poor’s Ratings Services (S&P). The rating agency raised its gas price forecast last week to $2.75-3.00 (Nymex equivalent), which may appear conservative compared to other forecasts in the $3.60s or higher (EIA) and Nymex highs last week in the $5.30s.
Markey Blasts Reports of White House Move to Ease Clean Air Act
Rep. Ed Markey (D-MA) last Monday took dead aim at press reports that the Environmental Protection Agency (EPA) is preparing to roll out plans that will call for a shift away from using the stick of lawsuits to enforce clean air regulations in favor of a carrot-like approach that will urge electric utilities to voluntarily reduce toxic emissions.
Changes in Environmental Policy Could Be Bad News for Gas Industry
The Bush administration is considering plans that would ease environmental restrictions on upgraded existing coal-fired power plants and potentially force the delay or cancellation of a significant amount of new gas-fired power generation. Some industry observers estimate the potential impact at about 40,000 MW of generation capacity or roughly about 8 Bcf/d of gas demand.