As the traditional storage withdrawal season came to an end last week with working gas near record lows at 627 Bcf (19% full) and 404 Bcf lower than the same time last year, there were mixed opinions on Wall Street about what the 2001 refill season might hold. Lehman Brothers and Salomon Smith Barney warned that storage might be refilled at a record rate this year, possibly prompting a bearish reaction in the market in the short-term despite the extremely low level of working gas currently. Meanwhile, UBS Warburg and IFR Pegasus said that scenario was very unlikely.
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Gov. Davis, Industry Weigh in on FERC Fixes for CA
Although he praised FERC as a “fine group of people,” CaliforniaGov. Gray Davis last week made very clear that he doesn’t like whatthat group has prescribed to mend his state’s seriously flawed bulkpower market. Power executives and state market officials said theyfavored the general direction in which the Commission seemed to beheaded, but they had problems with specific proposed reforms aswell.
November 13, 2000
Gov. Davis Raps FERC Fixes for CA Market
Although he praised FERC as a “fine group of people,” CaliforniaGov. Gray Davis yesterday made very clear that he doesn’t like whatit’s prescribed to mend his state’s seriously flawed bulk powermarket.
November 10, 2000
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