California’s State Auditor General formally began contacting thestate’s nonprofit electric grid operator (Cal-ISO) and wholesalespot power market (Cal-PX) Wednesday in a state legislature-orderedinvestigation that could lead to the merger of the two entities.The state’s electricity price spikes and supply shortfall thissummer prompted legislative action in August ordering the probe.
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Californians Heap Blame on FERC
California lawmakers and regulators — testifying in a publicsession two months before the general election — heaped the blamefor the state’s skyrocketing power prices on the Federal EnergyRegulatory Commission.
ConocoWarns Against Price Reaction
On behalf of the Natural Gas Supply Association, Conoco GeneralManager Mike Johnson is scheduled today to recommend that thegovernment maintain a hands-off approach to the natural gas marketdespite concerns about a potential crisis from Senate Energy andNatural Resources Committee Chairman Frank Murkowski, Sen. CharlesE. Schumer (D-NY) and other lawmakers. Several congressmen andsenators have voiced concern recently about high prices, low storagelevels and rising demand (see Daily GPI, July 11).
Only Heated California Able to Escape General Softness
Those who had expected cash bullishness to continue Wednesday,based on the July futures contract’s move to previously unknownheights on the previous day, were in for a big disappointment.Wednesday’s screen achieved most of its drastic downturn while cashwas still trading. And while hot weather remained fairly severe onthe West Coast, it cooled off considerably in the Northeast.
NJ to Seek Court Review of Transco Ruling
New Jersey’s Attorney General (AG) Office said yesterday it willfile by “no later than” Friday a petition seeking court review ofFERC’s decision awarding a certificate to Transcontinental GasPipeLine to proceed with the construction of a hotly-disputedpipeline expansion through the northern part of the state.
New Jersey to Challenge MarketLink Order in Court
New Jersey’s attorney general (AG) yesterday said he will seek acourt appeal of FERC’s decision awarding a certificate toTranscontinental Gas Pipe Line to proceed with the construction ofa pipeline expansion through the northern part of the state.
CA Solicits Suppliers for One-Year Contract
The State of California’s Department of General Services isseeking qualified suppliers to enter a one-year term deal for about15 million MMBtu to be delivered to the Pacific Gas & Electricand Southern California Gas service territories between July 1,2000 and June 30, 2001.
Cash Rises Amid General Price Optimism
Increases of more than a nickel dominated the cash marketyesterday as strong demand and chilly weather in core populationareas mixed with a surging futures screen to produce bullishresults. While many traders were surprised to see prices at theircurrent levels, they also agreed that this bull run does not appearlikely to go away any time soon.
Transportation Report Finds Major Problems with Pipeline Inspections
The Inspector General of the Department of Transportation (DOT)has found severe shortcomings in the inspection practices andtraining of federal pipeline inspectors at DOT’s Office of PipelineSafety (OPS), according to a preliminary report. The unfavorableDOT report comes in the wake of a number of legislative measures onCapitol Hill seeking to reauthorize the federal Pipeline SafetyAct.
Nevada Electric Utilities To Sell Power Plants
Preparing for the advent of electric industry restructuring inNevada and a pending merger with Portland General, Sierra PacificResources’ two Nevada power utilities have begun the process ofselling off nearly a billion dollars of fossil-fuel generationplants in a two phase auction seeking preliminary, nonbinding bidsby next month. Book value collectively is just under $1 billion, aSierra Pacific spokesperson said.