Effects

Citing the effects of Hurricane Isabel, Columbia Gas said Friday its markets in southeast Virginia were “taking gas at abnormally low levels” and the condition might require issuance of an OFO. Columbia said its ability to receive gas into Market Area 34, “specifically at the Emporia interconnection with Transco,” was very limited. Market Area 34 was already subject to Critical Day restrictions (see Daily GPI, Sept. 10). To avoid an OFO, customers were asked to minimize receipts into Market Area 34, especially at Emporia, where zero non-firm receipt capacity was posted. “Customers should attempt to verify the existence of their actual market prior to scheduling deliveries into Markets Areas 33 and 34,” the pipeline continued. See the bulletin board for actions that Columbia took to protect system integrity and other details.

NiSource Inc. last week said cold weather and an asset sale offset the negative effects of a rate review settlement, accounting rule change and higher pension expense during the first quarter, resulting in a 5% hike in net income for the period from a year ago.

NiSource Inc. on Tuesday said cold weather and an asset sale offset the negative effects of a rate review settlement, accounting rule change and higher pension expense during the first quarter, resulting in a 5% hike in its first quarter net income from a year ago.

Pulled higher by the momentum in the futures market and some lingering effects of the 2.1 Bcf/d in temporary production curtailments in the Gulf of Mexico late last week because of formerly Tropical Storm Hanna, cash prices bounded 10-20 cents higher Monday and ended on a relatively strong note at most locations outside the Rockies.

Seeking to improve market transparency and provide a better means to detect and discourage discriminatory practices, FERC last Wednesday said that it would replace a number of reporting filings currently made by the power industry with a quarterly electronic report, which the Commission believes will equalize reporting requirements for both traditional public utilities and power marketers and make information more easily available to the public.

In its first report comparing the full effects of its merger with Columbia Energy Group, NiSource Inc. reported a 33% increase in first quarter net income to $242.2 million, or $1.18 per share, led by a favorable hedging program in its gas production and merchant division, reduced debt and reduced expenses that offset the negative impacts of very warm weather.

Kinder Morgan, Inc. may not be recession-proof, but its fee-based portfolio of midstream assets clearly felt no ill effects during the third quarter, according to CEO Richard Kinder. The company produced a 109% increase in third quarter net income to $58.2 million, or $0.48 per diluted common share, exceeding Wall Street consensus estimates by 2 cents/share. The results compared to $26.7 million, or $0.23 per diluted common share, in the third quarter of 2000.

Kinder Morgan, Inc. may not be recession-proof, but its fee-based portfolio of midstream assets clearly felt no ill effects during the third quarter, according to CEO Richard Kinder. The company produced a 109% increase in third quarter net income to $58.2 million, or $0.48 per diluted common share, exceeding Wall Street consensus estimates by 2 cents/share. The results compared to $26.7 million, or $0.23 per diluted common share, in the third quarter of 2000.

The effects of the western power crisis will prevail throughthis year and beyond — with the possibility of much more severeproblems and concurrent economic consequences this summer than havebeen seen so far — according to a western energy summit Friday,which included western state governors, top federal energyofficials, and the CEOs of energy producers and industrialconsumers.