Houston-based Reliant Resources Inc. (RRI) on Monday said it was “not aware” that any of its employees manipulated or attempted to manipulate natural gas price indexes by submitting fake information to energy publications, while Duke Energy Trading and Marketing LLC reported it “admonished” several traders who “knew or should have known” about the reporting of false data to publishers.
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Articles from Evidence
Coral Energy Takes Steps to Ensure Accurate Price Reporting
Even though it has found no evidence of impropriety on its part, Royal Dutch Shell affiliate Coral Energy said last week it has implemented new procedures to shield itself from any misunderstandings or abuses that may occur when reporting prices on natural gas trades to energy trade publications.
Coral Energy Takes Steps to Ensure Accurate Price Reporting
Even though it has found no evidence of impropriety on its part, Royal Dutch Shell affiliate Coral Energy said it has implemented new procedures to shield itself from any misunderstandings or abuses that may occur when reporting prices on natural gas trades to energy trade publications.
Apache: Natural Gas Market Broken, Needs Repair
The roller coaster ride of natural gas prices over the past year and a half is clear evidence of a market in need of federal repair, Apache Corp. said last week, adding that an Enron-Dynegy merger would exacerbate the existing market malfunction.
Raymond James: Gas Use Undermined by Nukes
As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities are continuing to fill at an exceptionally fast pace over the past three months despite falling prices, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.
Raymond James: Gas Use Undermined by Nukes
As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities continued to fill at an exceptionally fast pace over the past three months with prices falling, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.
Reliant Debunks CA Power Largesse Myth
Calling the evidence “compelling,” Reliant Energy Inc.’s first public financial disclosure of its California operations between October 2000 and May 2001 revealed last week that while its wholesale power net revenues equalled $570.9 million, expenses totaled $413.7 million, which made the $127 million gross profit equal to $41/MWh, closely paralleling prices for the past three years. Reliant noted that its operating margin was $38/MWh in 1998; $11/MWh in 1999; and $28/MWh in 2000.
Reliant Debunks CA Power Largesse Myth
Calling the evidence “compelling,” Reliant Energy Inc.’s first public financial disclosure of its California operations between October 2000 and May 2001 revealed that while its wholesale power net revenues equalled $570.9 million, expenses totaled $413.7 million, which made the $127 million gross profit equal to $41/MWh, closely paralleling prices for the past three years. Reliant noted that its operating margin was $38/MWh in 1998; $11/MWh in 1999; and $28/MWh in 2000.
Missouri AG Calls for Gas Regulation Overhaul
Finding no evidence of illegal activity on the part of localdistribution gas companies, Missouri Attorney General Jay Nixonstill wants the state’s system of natural gas regulation overhauledbecause it does not provide consumers with appropriate protectionsfrom “dramatic price increases.”
El Paso, Enron Terminate $38 Million Mega-Deal
In a stunning announcement late yesterday, El Paso Natural Gassaid it had reached a “mutual agreement” with Enron North AmericaCorp. to terminate the $38 million negotiated mega-deal for 1.2Bcf/d of capacity that the marketer had entered into in December.The negotiated arrangement covers three separate capacityagreements.