Northeast citygates spiked by multi-dollar amounts Friday, greatly outpacing strong price increases at all points except Sumas. Transco Zone 6-New York City led the pack with a peak quote of $30 and an average of more than $16 as a massive cold front moved into the East. It is scheduled to stick around for a while.
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Some Flatness for Weekend, But Most Points Keep Falling
Some Midcontinent/Midwest points stayed flat Friday as a cold front was in the process of greatly enlarging its presence in the region, but the rest of the market saw varying degrees of decline ranging from less than a nickel to more than 40 cents.
Fitch: Merchants Improving on Modeling Liquidity Requirement Changes
Several wholesale energy companies have “greatly improved” their collateral management and ability to model changes in liquidity requirements as compared to how they approached such issues six months to a year ago, Fitch analyst Ellen Lapson said in a conference call last week.
Centrica Signs Deal to Buy NewPower for $130 Million
British gas company Centrica Plc has followed through on its previously announced deal to buy NewPower Holdings Inc., greatly expanding its presence in retail energy markets in North America. Centrica intends to buy all of NewPower’s outstanding shares for $1.05 per share in cash (subject to certain conditions), or a total of $130 million (see Daily GPI, Feb. 21). The acquisition is expected to include 650,000 U.S. residential and small business customers in states including Georgia, New Jersey, Ohio, Pennsylvania and Texas.
Centrica Signs Deal to Buy NewPower for $130 Million
British gas company Centrica Plc has followed through on its previously announced deal to buy NewPower Holdings Inc., greatly expanding its presence in retail energy markets in North America. Centrica intends to buy all of NewPower’s outstanding shares for $1.05 per share in cash (subject to certain conditions), or a total of $130 million (see Daily GPI, Feb. 21 ). The acquisition is expected to include 650,000 U.S. residential and small business customers in states including Georgia, New Jersey, Ohio, Pennsylvania and Texas.
Price Rally Slows Down Greatly Except in California
Except for continued triple-digit spikes in California, theprice rally that began in trading for the weekend appeared to berunning out of steam quickly Monday. Non-California gains rangedfrom barely above flat to nearly 60 cents at Stanfield; most wereless than 15 cents.
EEI: Collaboration is Key for 30 Tcf Market
Reaching a 30 Tcf gas market will greatly benefit the nation’spower market, so it only makes sense that electric utilities shouldhelp the gas industry achieve that goal, said Thomas Kuhn,president of Edison Electric Institute (EEI). Kuhn, speakingyesterday at the Natural Gas Roundtable in Washington D.C., saidthe convergence between the industries has become such a force thatthe EEI, whose members generate and distribute roughlythree-fourths of the nation’s electricity, is planning to take amore active role in helping the gas industry meet its demand.