Atlanta-based IntercontinentalExchange (ICE) saw its pretax profit plummet 62% to $19.9 million, its cash flow drop 47% to $27.1 million and its revenues tumble 25% to $93.7 million last year as the energy trading business struggled through a credit crisis and trading dropped sharply on its over-the-counter (OTC) electronic marketplace.
Flow
Articles from Flow
Producers Assail ANR’s Tighter Hydrocarbon Dew Point Specs in Gulf Region
The latest operational flow order (OFO) posted by ANR Pipeline imposing a more restrictive hydrocarbon dew point standard on natural gas entering its system in the Gulf of Mexico region during February is at odds with a December FERC order that directed the pipeline to “cease and desist” from such practices, a coalition of producers told FERC last Wednesday.
Producers Assail ANR’s Tighter Hydrocarbon Dew Point Specs in Gulf Region
The latest operational flow order (OFO) by ANR Pipeline imposing a more restrictive hydrocarbon dew point standard on natural gas entering its system in the Gulf of Mexico region during February is at odds with a December FERC order that directed the pipeline to “cease and desist” from such practices, a coalition of producers told FERC Wednesday.
Transportation Notes
Late Wednesday afternoon Columbia Gas, in what it called a “pre-Operational Flow Order warning for all transportation rate schedules at MLI 72-23 (UGI Corporation-23),” said it has recently experienced lower than normal pressures on its Lines 1278 and 10110 in Market Area 23. “This low-pressure problem was created by shippers’ excessively high hourly rates at MLI 72-23,” the pipeline continued. See the bulletin board for a list of “actions that Columbia’s shippers can take now to reduce the possibility that Columbia will need to issue an OFO in the future.”
MISO, TVA and PJM to Boost Eastern Interconnection Liquidity
Seeking to ease the flow of power across a big chunk of the Eastern Interconnection, the Midwest Independent Transmission System Operator (MISO), PJM Interconnection and the Tennessee Valley Authority (TVA) on Wednesday announced plans to pursue the development of a multi-regional approach to strengthen electric transmission, operations and related transactions.
Transportation Notes
Transco said Tuesday it will “strongly consider issuing an Imbalance Operational Flow Order” due to below normal temperatures throughout much of its market area. “Market pricing and continued cold weather make it likely that current negative transportation imbalances will not be reduced. Transco cannot continue to manage these imbalances given current storage inventory levels and reduced operating flexibility. Absent immediate, voluntary resolution of shippers’ negative imbalances,” the OFO is a possibility, Transco said. The pipeline also noted that it will not accept any delivery make-up nominations for the rest of February 2003 and that pooling point tolerances had been tightened to 1% for negative imbalances.
Nearly All Points Up Strongly; Zone 6-NYC Up to $22.00
Buoyed by a flow date that several sources expect to be the coldest yet in the East this winter, an approaching return of severe weather in the South, and a strong screen rebound, cash prices recorded across-the-board increases Wednesday.
Draft Study Finds Pipe Infrastructure Benefits Wyoming, Producers
A draft report on the pipeline infrastructure requirements for optimizing the flow of Rocky Mountain natural gas indicates that with strategic planning and significant pipe development, the region could reach its gas production potential of about 7.5 Bcf/d by 2005 and 10.9 Bcf/d by 2010.
Draft Study Finds Pipe Infrastructure Benefits Wyoming, Producers
A draft report on the pipeline infrastructure requirements for optimizing the flow of Rocky Mountain natural gas indicates that with strategic planning and significant pipe development, the region could reach its gas production potential of about 7.5 Bcf/d by 2005 and 10.9 Bcf/d by 2010.
Transportation Notes
Pacific Gas & Electric Co. called high-inventory systemwide operational flow orders Friday and Saturday. The Stage 2 OFO on Saturday had a 3% tolerance with $1/Dth penalties. The company said its California Gas Transmission system has been operating above normal operating limits (4.5 Bcf) since Wednesday and is expected to reach nearly 4.7 Bcf by Sunday.