Natural Gas Pipeline Company of America (NGPL) has extended long-term firm transportation and storage contracts with its largest customer, Northern Illinois Gas Co. (Nicor), through March 31, 2006.
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FERC Extends CA Contract Talks; Sees 80% Eventually Settling
FERC Chief Administrative Law Judge Curtis L. Wagner, citing progress toward settling at least 80% of an estimated 24 long-term contracts in dispute between power suppliers and California’s Department of Water Resources (DWR), said late last Tuesday he was scheduling additional settlement meetings for Aug. 28-30.
FERC Extends WestWide Price Cap at $250/MWh
FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator to speed up creation of a day-ahead and ancillary services markets to Jan. 1, 2003, and that FERC personnel would be installed in the Cal-ISO operations center.
FERC Extends WestWide Price Cap at $250/MWh
FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator to speed up creation of a day-ahead and ancillary services markets to Jan. 1, 2003, and that FERC personnel would be installed in the Cal-ISO operations center.
Energy East Extends Gas Supply, Asset Optimization Alliance with BP
Energy East Corp. said it has extended a supply and asset optimization alliance with BP, which will continue supplying gas, market intelligence, financial products and information technology to support Energy East’s four natural gas distribution companies — New York State Electric & Gas, Connecticut Natural Gas, Southern Connecticut Gas and Berkshire Gas.
March Extends Wednesday’s Gains, Reaches $2.16 High
March futures added to Wednesday’s late gains on some technical short-covering but traded sideways most of the day Thursday, ending up 4.9 cents to $2.15 with a daily high of $2.16 and a low of $2.085. Several observers said if the contract can trade above $2.165 and build a little upward momentum, it might drive more shorts to cover and produce a small rally. But few are willing to bet the farm on that given the warm weather and enormous storage surplus.
Columbia Extends Open Season for Midwest Project
Columbia Gas Transmission said it is extending an open season for its proposed Midwest Project to further assess market interest in new transportation service. The open season was supposed to close Dec. 14 but has been extended to Jan. 31.
Proposed Rule Extends Standards of Conduct to All Affiliates
Acknowledging the converging and consolidating natural gas and power industries, Federal Energy Regulatory Commissioners last week issued a notice of proposed rulemaking (RM01-10) combining the standards of conduct for natural gas pipelines and electric transmission providers and broadening their application to require separation of the regulated monopolies from all other company affiliates.
Proposed Rule Extends Marketing Affiliate Regulations to All Affiliates
Federal Energy Regulatory Commissioners Wednesday agreed to issue a notice of proposed rulemaking broadening the application of standards of conduct for transmission providers, including both natural gas pipelines and power lines, to require separation of the regulated monopolies from any other company affiliate.
Abraxas Extends Exchange Offer for Grey Wolf
San Antonio-based Abraxas Petroleum Corp. has extended its share exchange offer for Grey Wolf Exploration Inc. until Sept. 28. A total of 5.9 million shares of Grey Wolf, representing 88% of what Abraxas and its Canadian Abraxas did not own, have now been tendered and taken up, giving Abraxas 94% of the common outstanding shares of Grey Wolf.