Several flat to about a nickel higher points in various regions managed to escape the overall moderate softness that enveloped the market Tuesday. The previous day’s half-penny advance by May futures did nothing to influence cash numbers, so the physical market finally had to acknowledge that advances in the past few days were made with essentially no support from weather fundamentals.
Enveloped
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Market Bows to Mild Weather; Softness Dominates
Several flat to about a nickel higher points in various regions managed to escape the overall moderate softness that enveloped the market Tuesday. The previous day’s half-penny advance by May futures did nothing to influence cash numbers, so the physical market finally had to acknowledge that advances in the past few days were made with essentially no support from weather fundamentals.
Puget Energy Sets Demand Record on Northwest Cold Spell
A stubborn cold front that has enveloped the Pacific Northwest sparked record natural gas and electricity sendouts for Bellevue, WA-based Puget Sound Energy (PSE) Tuesday, eclipsing a power demand marker that had stood for a decade, according to the combination utility. With forecasts for continued colder-than-normal temperatures in western Washington state, PSE was advising its customers to use power and gas wisely.
MoPSC to Continue to Monitor Aquila’s Financial Condition
The financial storm that enveloped Aquila Corp. this year — cuts in its credit rating to below investment grade, forced asset sales, restructuring of its operations and widespread federal investigations into its trading — will have “possible negative impacts” on the company’s regulated natural gas distribution facilities and power utilities in Missouri, but an immediate rate hike doesn’t appear to be in the cards for customers, according to a Missouri Public Service Commission staff report.
Desperation Marks CA Power Crisis Proposals
A shroud of desperation enveloped California officials Monday, stretching from the state Capitol in Sacramento, west to San Francisco, and south to Los Angeles as regulators and a federal bankruptcy judge wrestled with the state’s electricity crisis, but with no indication of when and how the battle will end.