Getting a little extra boost from a rebounding expiration-day screen, the uphill climb for swing prices got steeper Tuesday as what is touted as the coldest weather of what has been so far a decidedly mild winter season continued to expand into new market areas. Most gains ranged from just a couple of pennies to about 15 cents, but anticipation of a radical change in temperatures today had Northeast citygates registering larger increases, led by spikes of nearly half a dollar at Transco’s two Zone 6 pools.
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TransCanada Faces Tough Fight Over Sharp Toll Hikes
Natural-gas shippers face extra costs of C$275 million (US$172 million) per year as a result of proposals by TransCanada PipeLines, according to calculations by an irate Canadian Association of Petroleum Producers. In written preliminaries for hearings before the National Energy Board that promise to be long and hot after they start Feb. 19, CAPP calls TransCanada’s financial requests “grossly excessive.” Other protesters, while more diplomatic, are also firm — including Mirant Canada Energy Marketing Ltd.
TransCanada Faces Tough Fight Over Sharp Toll Hikes
Natural gas shippers face extra costs of C$275 million (US$172 million) per year as a result of proposals by TransCanada PipeLines, according to calculations by an irate Canadian Association of Petroleum Producers. In written preliminaries for hearings before the National Energy Board that promise to be long and hot after they start Feb. 19, CAPP calls TransCanada’s financial requests “grossly excessive.” Other protesters, while more diplomatic, are also firm — including Mirant Canada Energy Marketing Ltd.
CA Regulators to Free Up Extra SoCalGas Supplies
Belatedly, after delaying a decision for several months, California regulators are expected to okay Southern California Gas Co.’s proposal to free up 14 Bcf of previous cushion gas at two of its underground storage fields and sell the supplies on the open market. It was originally proposed in the days of shorter supplies and higher wholesale prices. A vote Wednesday is expected, according to state regulator Geoffrey Brown, briefing news media Tuesday.
Prices Surge as Traders Eye Early-2002 Futures Premiums
The cash market again seemingly defied some of the laws of economic gravity Tuesday by rising about 20 cents or more at most points. And once again several traders were baffled at the continuing price strength in the face of pitifully few visible means of physical support.
New Heat, Lifting of OFOs Spur Post-Weekend Rally
The return of some extra heat, along with the general resumption of business-related demand after a weekend, were enough to generate a moderately strong rebound in the cash market Monday. Most of the increases ranged between a nickel and a quarter, but the removal of LDC OFOs allowed dollar-plus jumps at all California points except Malin.
Extra Heat, Screen Propel Small Cash Advances
Bolstered by the return of hotter weather to some regions and a screen gain of nearly a dime, nearly all points ranged from flat to about a nickel higher Tuesday. A PG&E citygate gain of slightly more than 15 cents, coupled with declines of about a dime at Malin and about 25 cents at Southern Border into PG&E, were the primary exceptions to mild firmness.
Canadian Exports Rise for 13th Year
With an extra boost from the industry’s newest branch offshoreof Nova Scotia, Canadian natural gas exporters chalked up their13th consecutive annual record during the contract year that endedlast Oct. 31.
Canadian Exports Rise for 13th Year
With an extra boost from the industry’s newest branch offshoreof Nova Scotia, Canadian natural gas exporters chalked up their13th consecutive annual record during the contract year that endedlast Oct. 31.
California Dives On Capacity News, Lack of OFO
What a difference a day can make in trader psychology. The newsof extra El Paso capacity and lack of a PG&E OFO causedCalifornia prices to plummet around a dollar or more in both theswing and bidweek markets Wednesday, while other quotes for thelast day of August were flat to mildly softer in the East andsurprisingly stronger in the Rockies.