Effect

Quebec said Thursday a new royalty regime for shale gas will take effect in the province once it concludes a two-year strategic environmental assessment of the industry.

Northern Natural Gas is ending Tuesday a System Overrun Limitation in all market-area zones that had been in effect since last Thursday.

Pacific Gas and Electric is keeping a systemwide Stage 2 low-inventory OFO in effect through at least Friday but said the tolerance on negative daily imbalances will be loosened from 5% to 16%.

Northern Natural Gas, which had issued System Overrun Limitations in all market-area zones starting the previous Saturday (Jan. 15), is keeping them in effect through at least their ninth day by extending them into Sunday.

Florida Gas Transmission kept an Overage Alert Day in effect through at least Friday but loosened the tolerance for negative imbalances from 10% to 25%.

Northern Natural Gas said it was ending Wednesday a System Overrun Limitation (SOL) for all market-area zones (ABC, D and EF) that had been in effect since last Saturday. However, at mid-afternoon Tuesday it said a new SOL would be implemented Thursday for Zone EF due to lower-than-normal system-weighted temperatures.

Colder forecasts during the Christmas weekend were in effect for many areas, and although near-term predictions varied, most points were flat to about a dime higher. All of the major declines from about a dime to the $2.65 area occurred in the Northeast, where a major weekend storm had begun departing.

Southern said a Type 6 OFO for short imbalances that was implemented Sunday will remain in effect through Wednesday but is unlikely to be extended into Thursday.

Lower natural gas prices will have an effect on National Fuel Gas’ (NFG) bottom line in 2011, but the company will continue to ramp up its drilling operations in the Marcellus Shale during the year, CEO David F. Smith said during a conference call with financial analysts Friday.