Gained

In these supply glut times, it would be nice if there were more gas-fired power plants burning more natural gas, but don’t blame power generators for the oversupply. Look to producers and the rig count.

Natural gas prices in the physical market overall rose an average of 3 cents on Wednesday for Thursday delivery. Nearly all points posted gains of anywhere from a penny to a nickel with the infrastructure-challenged and unpredictable Marcellus Shale locations recording small losses to double-digit gains and Midcontinent and California points coming in with solid gains.

Physical natural gas prices on average gained a penny Tuesday with traders seeing no immediate need to make purchases during a holiday-muted trading week. Upper Midwest points added a couple of cents, and West Coast citygate prices were lower as forecasts of power demand were tempered. At the close, August futures were up 7.7 cents to $3.654 and September had added 7.8 cents to $3.651. August crude oil rose $1.61 to $99.60/bbl.

Constitution Pipeline Co. LLC, fully subscribed to carry at least 650,000 Dth/d of natural gas from northern Pennsylvania’s Marcellus Shale to Northeast markets, on Friday gained a new investor.

The Los Angeles Department of Water and Power (LADWP) gained more political support for a far-reaching plan to abandon its historic reliance on out-of-state coal-fired power generation and to rely more on natural gas.

The Los Angeles Department of Water and Power (LADWP) gained more political support for a far-reaching plan to abandon its historic reliance on out-of-state coal-fired power generation, and part of the plan includes a switch of coal units to burn natural gas.

Spokane, WA-based Avista Utilities on Wednesday gained approval Wednesday from Idaho regulators to raise its retail natural gas utility rates 5.2% this year with the bulk of the hike effective Monday. Retail electric rates for the combination utility will stay unchanged until Oct. 1 when a 1.9% power utility retail rate increase will start, according to the Idaho Public Utilities Commission (PUC). The rate changes are part of a settlement the PUC approved, dividing the gas hike into two parts: 4.9% effective Monday and 0.3% held until Oct. 1. Avista originally had proposed a 7.2% gas rate increase overall, and a 4.6% electric rate hike for Monday. The settlement precludes a separate base rate settlement from becoming effective until Jan. 1, 2015, the PUC said.

After months of haggling, hedge fund TPG-Axon Capital, which owns 7.3% of outstanding SandRidge Energy Inc. shares, has gained at least a portion of the changes it had urged at the Oklahoma City-based company, and it stands poised to remove CEO Tom Ward or take control of the board of directors.

After months of haggling, hedge fund TPG-Axon Capital, which owns 7.3% of outstanding SandRidge Energy Inc. shares, has gained at least a portion of the changes it had urged at the Oklahoma City-based company, and it stands poised to remove CEO Tom Ward or take control of the board of directors.