Favors

Despite cold temperatures both outside and in the latest mediumrange weather outlooks, natural gas prices shuffled lower yesterdayin an extremely quiet trading session. After failing to retestWednesday’s highs yesterday morning, the April contract succumbedto light selling throughout the afternoon. Estimated volume of just32,117 contracts confirmed the thin trading activity.

Whether it be a slumping Sunday, a manic Monday or a terribleTuesday, early-week trading has taken a toll on bulls in thenatural gas futures pit at Nymex recently, with losses stacking upboth in overnight Access trading sessions and in regular openoutcry sessions. For the fourth week in a row, the market was hitwith a deluge of late weekend selling, giving rise to a significantdown-move on the first trading day of the week. And while it wasdelayed by a day because of the Nymex holiday, Monday night’sselling was just as potent as the selling seen on the prior threeSunday nights, leaving some market-watchers to suggest traders haveearmarked overnight Access sessions — especially those over theweekends — as easy opportunities to push prices in their favor.

In a decision siding with Sempra Energy, FERC Administrative LawJudge (ALJ) Herbert Grossman last week found that postage-stamprates on Kern River Gas Transmission are “unjust and unreasonable.”Instead, he ruled in favor of a distance-sensitive zonal ratedesign, which was proposed by Sempra.

In a decision siding with Sempra Energy, FERC Administrative LawJudge (ALJ) Herbert Grossman has found that postage-stamp rates onKern River Gas Transmission are “unjust and unreasonable.” Instead,he ruled in favor of a distance-sensitive zonal rate design, whichwas proposed by Sempra.

The near-bankrupt Southern California Edison last week calledfor the formation of an independent agency or agencies that wouldmonitor and punish market-power abusers in the state’s bulk powerand natural markets.

The near-bankrupt Southern California Edison yesterday calledfor the formation of an independent agency or agencies that wouldmonitor and punish market-power abusers in the state’s bulk powerand natural gas markets.

The board of the Washington, D.C. transit authority for thefirst time has recommended the purchase of 100 buses fueled bycompressed natural gas, a breakthrough hailed by the Natural GasVehicle Coalition (NGVC) as part of a growing trend.

The board of the Washington, D.C. transit authority for the first time has recommended the purchase of 100 buses fueled by compressed natural gas, a breakthrough hailed by the Natural Gas Vehicle Coalition (NGVC) as part of a growing trend.

The Department of Energy’s Office of Policy yesterdayrecommended streamlining the federal government’s process forapproving new natural gas storage capacity and pipelines bound forthe Northeast in an attempt to reduce the region’s dependence onheating oil and prevent a recurrence of price spikes.