Frenzy

Joining in the feeding frenzy that has become California’selectricity rate debate, a San Diego-based utility consumer groupand four law firms last week filed a class action lawsuit against13 major generators, marketers and energy trading companies,charging them with price fixing and market manipulation.

From coast to coast, utilities and local distribution companies(LDCs) are preparing for the peak natural gas-usage season thiswinter by filing rate hikes with regulators, and bracing theircustomers for inflated gas prices that are still to come.

There was a feeding frenzy in the Gulf Coast region early onFriday, and we’re not talking about Hammerhead sharks. Tropicaldepression 11 triggered panic buying at the opening gate, sendingprices soaring 15-25 cents at most locations east of the Rockies.

The stepped-up merger frenzy of gas pipeline companies has takenits toll on the Interstate Natural Gas Association of America(INGAA), which announced Friday it was downsizing its staff inresponse to its loss of members and dues.

The stepped-up merger frenzy of gas pipeline companies has takenits toll on the Interstate Natural Gas Association of America(INGAA), which announced Friday it was downsizing its staff inresponse to its loss of members and dues.

Following a knee-jerk buying frenzy during Wednesday night’sAccess trading session, natural gas futures shuffled mostlysideways yesterday as traders continued to weigh the impact oftechnical factors and weather forecasts on the already inflatedprice level. Including Access, the November contract was up 8.6cents at $3.064 yesterday, 0.1 cent less than the opening price.

Amid the merger frenzy that gripped the energy industry lastweek, CMS Energy Chairman and CEO William McCormick said he didn’tenvision his company falling prey to a takeover as it strives tobecome the third largest energy concern in the world. Instead, hesees CMS Energy continuing in an aggressor role – being the buyer,not the buyee.

Amid the merger frenzy that has gripped the energy industry thisweek, CMS Energy Chairman and CEO William McCormick said he doesn’tenvision his company – whose goal is to be the third largest energyconcern in the world – being swallowed up by a competitor. Instead,he sees CMS Energy continuing in its aggressive role as a buyer ofassets.

The rush to build new gas-fired generation has become nothingless than a frenzy, according to a new report which shows thatsince summer the tally on new generation projects has grown 61% to59,000 MW. That’s up from 49,463 MW reported in late-September, and36,600 MW in July, said Resource Data International’s (RDI) EnergyInsight (EI), an Internet-based analytical service that keeps aclose watch on the power generation market.