Fourth

The Fourth of July may have been last Tuesday, but pyrotechnicscontinued for the rest of the week in the natural gas pit astraders pushed prices lower Wednesday in sympathy with a 6% drop incrude oil prices, only to retrace a portion of those losses in ashort-covering buying spree Friday.

GRI, formerly the Gas Research Institute, filed itsfourth-to-last annual research, development and demonstrationprogram application last week with FERC, requesting a budget of $70million and approval of its 2001-2005 RD&D Plan.

GRI, formerly the Gas Research Institute, filed itsfourth-to-last annual research, development and demonstrationprogram application last week with FERC, requesting a budget of $70million and approval of its 2001-2005 RD&D Plan.

Still flush from Wednesday’s bullish storage report, traders bidup natural gas prices in the pit at Nymex yesterday to notch thefourth advance in as many days. Including yesterday’s 3.5-centgain, the June contract has rallied 34 cents from Friday’s $3.01low. After notching a $3.385 high, the prompt month closed at$3.352.

Despite warning investors last week that warm weather during the fourth quarter could negatively impact earnings by as much as 10 cents/share last week, CMS Energy has nonetheless deemed 1999 a success. Its earnings will be released in mid-January, a company spokesman said.

Three independent system operators — ISO New England, The NewYork ISO, and PJM Interconnection — which have been workingtogether to improve power supply reliability, recently addedanother ISO to their cooperation pact.

Despite warning investors that warm weather during the fourthquarter could negatively impact earnings by as much as 10cents/share, the CMS has nonetheless deemed 1999 a success. Itsearnings will be released in mid-January, a company spokesman said.

Three independent system operators — ISO New England, The NewYork ISO, and PJM Interconnection — which have been workingtogether to improve power supply reliability, recently addedanother ISO to their cooperation pact.

Marking its fourth Northeast LDC purchase this year, SouthernUnion (SU) bought Cumberland, RI-based Valley Resources for $160million, including the assumption of debt, the companies said lastweek. The boards of directors for both Valley Resources and SU haveunanimously approved the deal. The merger is expected to becompleted within nine months.