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CPUC Head Committed to ‘Selling’ Global Warming Policymaking

California is taking some risks in sprinting out front in setting energy policy based on global warming assumptions and delaying future benefits for utility consumers from some of these efforts, but the longer term costs of not doing anything would be far greater, according to California’s chief regulator, Michael Peevey. He made this point in a speech Monday to the Edison Electric Institute (EEI) Financial Conference in Las Vegas, NV.

November 13, 2006

Transportation Notes

Forecasted weather for the next few days indicates colder than normal temperatures in the Front Range of Colorado, CIG said. With the Fort Morgan Storage Field in Morgan County, CO, shut in due to a well leak (see Daily GPI, Oct. 25), the pipeline has its storage withdrawal capability reduced by about 51%. Storage customers have 49% of their ADWQ (Average Daily Withdrawal Quantity) available until further notice and should adjust flowing supplies to ensure that withdrawals remain at or below their revised contractual limits, CIG said. Additionally, CIG will not be able to approve payback nominations from the pipeline. A spokesman said Thursday the number of area families evacuated due to the leak had risen to 13, and some (but not all yet) were being allowed to return to their homes on a case-by-case basis. There is no projection for when repairs to the well will be completed and service restored at the Fort Morgan field, he said.

October 27, 2006

CSU Forecast Team Reduces Atlantic Storm Activity Predictions — Again

As the Atlantic remains much quieter on the storm front than many expected just a few short months ago, respected hurricane forecasters William Gray and Philip Klotzbach of the Colorado State University (CSU) hurricane forecast team reduced their 2006 Atlantic hurricane season predictions last week for the third time since late May. While the forecasters added one more hurricane to their September prediction, they decreased their overall storm prediction by two.

October 9, 2006

CSU Forecast Team Reduces Atlantic Storm Activity Predictions — Again

As the Atlantic remains much quieter on the storm front than many expected just a few short months ago, respected hurricane forecasters William Gray and Philip Klotzbach of the Colorado State University (CSU) hurricane forecast team reduced their 2006 Atlantic hurricane season predictions Tuesday for the third time since late May. While the forecasters added one more hurricane to their September prediction, they decreased their overall storm prediction by two.

October 4, 2006

SoCalGas Signs $26 Million in Energy Efficiency Deals

Reflecting the continuing race in California to stay out front on energy efficiency through massive ratepayer-funded programs, Sempra Energy’s Southern California Gas Co. Tuesday announced it has recently signed contracts totaling $26 million with outside providers to expand residential and small business energy efficiency programs through 2008.

October 2, 2006

SoCalGas Signs $26 Million in Energy Efficiency Deals

Reflecting the continuing race in California to stay out front on energy efficiency through massive ratepayer-funded programs, Sempra Energy’s Southern California Gas Co. Tuesday announced it has recently signed contracts totaling $26 million with outside providers to expand residential and small business energy efficiency programs through 2008.

September 28, 2006

Anadarko to Use $5.5B Offering Proceeds to Repay Borrowings

Stopping to catch its breath following a busy summer on the acquisition and divestiture front, The Woodlands, TX-based Anadarko Petroleum Corp. said last week it is well on its way to restoring its balance sheet while putting in place permanent financing for its August acquisitions of Kerr-McGee Corp. and Western Gas Resources Inc. Following the announcement two weeks ago that it is selling its Canadian subsidiary, the company added that it is also eyeing further divestitures.

September 25, 2006

Anadarko to Use $5.5B Offering Proceeds to Repay Borrowings

Stopping to catch its breath following a busy summer on the acquisition and divestiture front, The Woodlands, TX-based Anadarko Petroleum Corp. said Tuesday it is well on its way to restoring its balance sheet while putting in place permanent financing for its August 2006 acquisitions of Kerr-McGee Corp. and Western Gas Resources Inc. Following the announcement last week that it is selling its Canadian subsidiary, the company added that it is also eyeing further divestitures.

September 20, 2006

A Little Heating Load Contributes to Strong Rally

Although a couple of sources were not impressed, a cold front taking overnight lows into the 40s in the Midwest and scheduled to move into the Northeast over the next couple of days appeared to be creating a modicum of heating load that played some role in a strong price rebound at nearly all points Monday. The screen’s increase of nearly a dime on the previous Friday and the return of industrial load from its weekend slump also supported the cash rally.

September 19, 2006

ICE in Running for NYBOT Merger

One of the youngest commodity exchanges, The IntercontinentalExchange (ICE), founded in 2000, reportedly is the front-runner as a merger partner for one of the oldest, the New York Board of Trade (NYBOT), whose origins as a trader of cocoa, coffee and cotton go back more than 100 years.

September 15, 2006
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