Expire

According to one natural gas futures trader, the June contract on Wednesday went off the board like “a sleeping lamb” as it gained one-tenth of a cent to expire at $3.538. The July contract, which now assumes front-month status, slipped five-tenths of a cent on the day to close at $3.638.

Southern California Gas kept a high-linepack OFO that had been initiated Saturday in effect through Monday, then allowed it to expire Tuesday. However, on Tuesday afternoon the LDC said it was declaring a new high-linepack OFO for Wednesday, setting the imbalance tolerance for positive daily imbalances at 10%.

Southern California Gas declared a high-linepack OFO for Sunday but allowed it to expire Monday.

After tightening the negative imbalance tolerance Tuesday from 25% to 10% in the 11th day of an Overage Alert, Florida Gas Transmission allowed the Overage Alert to expire Wednesday.

Northern Natural Gas allowed a System Overrun Limitation for all market-area zones to expire Friday after it had been in effect for the previous three days.

Pacific Gas & Electric belatedly declared a systemwide Stage 2 high-inventory OFO for Tuesday but allowed it to expire Wednesday.

The Senate Tuesday overwhelmingly passed an $18 billion package to extend tax credits for renewable fuels and energy efficiency, many of which are due to expire at the end of the year. But rather than accept the Senate tax bill, the House Wednesday adopted a different strategy — raising the likelihood that the ongoing disagreement between the two houses over tax policy will not be resolved before Congress adjourns.

Southern California Gas extended Saturday’s high-linepack OFO through Sunday before allowing it to expire Monday. The giant LDC also reported beginning replacement Monday of the power head on compressor Unit #5 at its Aliso Canyon storage facility. The work is expected to end Wednesday.

Both Pacific Gas & Electric and Southern California Gas allowed their high-linepack OFOs that had been in effect for two days and one day, respectively, to expire Saturday.