Either

Following two days of active trading and sizable price swingsthe futures market traded quietly to either side of unchanged onWednesday. September futures closed at $1.819, managing a 0.7-centgain on the day.

Cash prices either remained flat or rebounded a cent or two atmost delivery points across the board on Friday, mainly as resultof recent forecasts of above normal temperatures throughout thecountry, and the fact that the relatively low prices made for anattractive storage play opportunity. In addition to minor losses inthe Northeastern markets, Western and Rockies points, whichdemonstrated the most strength during the past week, alsoregistered declines of between 1-4 cents.

May baseload prices were tanking on the last morning of tradingThursday, and May swing numbers for either the 1st only or 1st-4thwere “really pathetic,” as a Midcontinent marketer so delicatelyput it. The plunging June futures screen was an obvious drag oncash trading. The early weakness of the May aftermarket confoundedmany who in late April had been expecting incremental prices torise above bidweek levels.

No one stepped up to take either of the two 593,000 MMBtu/dpackages of El Paso Natural Gas transportation capacity NGC postedfor release over the past 10 days. One package was offered thoughthe end of April and the other through December 1999. Theycomprised 40% of the 1.3 Bcf/d NGC holds on El Paso and 80% of itsaccess to the San Juan Basin under the purchased contracts. NGC’sMike Flinn said market players missed a huge opportunity. One thatNGC isn’t likely to offer again.

Carolina Power & Light intends to either acquire a naturalgas supply or marketing company or strike a “strategic alliance”with one in a plan to offer customers “one-stop shopping” for theirmajor energy needs.