Expectations

Surprising even itself, Consumers Energy announced last weekthat in only eight months of the Gas Customer Choice program,100,000 of its customers switched to an alternate supplier,reaching the limit for the first year of the plan. Out of the 10suppliers vying for Consumers’ market, Sempra Energy affiliateEnergy America-Michigan topped the list by signing 90% of theenrollments, a Michigan Public Service Commission (MPSC)spokesperson said.

As most players expected for Thursday’s cash market, gas pricestumbled across the board amid moderating temperatures throughoutmajor markets nationwide. Cash prices fell about a dime on averageat most trading points.

Contrary to most expectations, cash prices started-off the newweek with an upward spike across the board, logging gains of morethan a dime – in most areas – from weekend levels. Most sourcesattributed the rise to active buying as many market players weretaking advantage of below index pricing ahead of anticipated coolertemperatures later in the week. Cash prices at some deliverypoints, such as Northern Demarc and Ventura in the Midcontinent andthe PG&E citygate in California, registered gains upwards ofmore than 20 cents.

PacifiCorp said last week it expects its third-quarter earningswill be 50% below securities analysts’ expectations of $0.41/shareand its annual earnings will be significantly below analysts’forecast of $1.27 per share.

PacifiCorp said yesterday it expects its third quarter earningswill be 50% below securities analysts’ expectations of $0.41/shareand its annual earnings will be significantly below analysts’forecast of $1.27 per share.