Despite weather in the East more representative of early September than late October, natural gas prices pressed higher Monday as commercial fund buyers buoyed prices to levels not seen since late August. The November contract received the biggest boost, checking 12.6 cents higher to close at $2.807. The 12-month strip lagged slightly, notching a 8.1-cent gain to $3.171.
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California Faces Rolling Blackouts and Political Stalemate
With the onset of warming weather and rolling blackouts, California officials and energy industry stakeholders are trying to find more common ground, but the much-needed legislative and financial solutions failed to materialize last week. The governor, generators and legislators are expected to get together this week to seek a way to salvage proposed solutions, and state regulators will decide how to spread already-approved electricity retail rate increases.
Short Gas Supply Could Hinder Power Plant Construction
With the tight gas supply and demand situation today, some power plants may find themselves stranded unless they’ve already locked up gas supplies — and some of the projected gas-fired generation projects could be delayed, Offshore Technology Conference attendees heard last week. Gas inventories and demand will be tight for two or three years, putting more pressure on the infrastructure to expand.
Short Gas Supply Could Hinder Power Plant Construction
With the tight gas supply and demand situation today, some power plants may find themselves stranded unless they’ve already locked up gas supplies — and some of the projected gas-fired generation projects could be delayed, Offshore Technology Conference attendees heard this week. Gas inventories and demand will be tight for two or three years, putting more pressure on the infrastructure to expand.
UtiliCorp to Spin off Aquila Next Year
Unable to find a suitable generation partner for its high flyingtrading arm UtiliCorp United Inc. instead will make an initialpublic offering for a portion of subsidiary Aquila Energy Corp. andthen spin off the remaining shares next year to its shareholders ina tax-free distribution. The result will be two stand-alonepublicly traded companies, both based in Kansas City.
GPSC Gives Seniors a Break, Attacks Marketers
Working to find ways to ease the burden of high gas prices on its constituents, the Georgia Public Service Commission (GPSC) unanimously approved an additional $50 refund for low-income senior citizens on their bills for March. Low-income seniors are already receiving $10 refunds on their January, February and March bills, while all consumers are receiving $14 refunds on their February and March bills.
GPSC Gives Seniors a Break, Attacks Marketers
Working to find ways to ease the burden on its constituents, theGeorgia Public Service Commission (GPSC) unanimously approved anadditional $50 refund for low-income senior citizens on theirnatural gas bills for March. Low-income seniors are alreadyreceiving $10 refunds on their January, February and March bills,while all consumers are receiving $14 refunds on their February andMarch bills.
Murphy, Apache in Lawsuit Over B.C. Discovery
Having bought out 75% of a leaseholding near their 100 MMcf/dLadyfern gas find in northeast British Columbia, joint venturesubsidiaries of Murphy Oil and Apache Corp. are going after theother 25%, accusing the remaining leaseholder, Predator Corp., andothers of misappropriating and misusing confidential data about thediscovery well.
Murphy, Apache in Lawsuit Over B.C. Discovery
Having bought out 75% of a leaseholding near their 100 MMcf/dLadyfern gas find in northeast British Columbia, joint venturesubsidiaries of Murphy Oil and Apache Corp. are going after theother 25%, accusing the remaining leaseholder, Predator Corp., andothers of misappropriating and misusing confidential data about thediscovery well.
Warming Weather Gives Prices a Colder Feeling
Generally the cash market failed to find any support from eitherAGA’s big storage withdrawal report Wednesday afternoon or thescreen’s strong push upwards Thursday. With the exception ofupticks at a few scattered points, cash numbers ranged from flat todown nearly a dollar at Transco Zone 6 (NYC). Most of the declineswere between about a nickel and 30 cents.