Emergence

Enron Corp.’s emergence from bankruptcy would put it back into the mix as a North American natural gas pipeline operator, according to the bankruptcy plan filed Friday in New York. Similar to the preview detailed last March (see NGI, March 24), Enron would spin off two separate companies, one holding its North American interests, the other its international businesses. Portland General Electric (PGE) would be the third entity, although a sale is still possible.

The emergence of online exchanges in both energy commodities and other products has enabled energy companies to shift to an environment where suppliers can expand their reach and receive a wider comparison selection when they make business decisions. A report by Energy Info Source, “Online Exchanges in the Energy Industry,” examines an evaluation of the challenges and the drivers impacting energy e-commerce.

It has been argued the emergence of storage facilities in thenatural gas industry has robbed cash prices of some of theirvolatility during summers and winters and replaced it duringshoulder months. Perhaps a similar affect has happened this pastyear because of mother nature. The El Ni¤o winter, which helpedkeep volatility in check this weekend, may very well be behind theextremely high volatility seen at the New York Mercantile Exchangethis past week.