Halt

Pacific Gas & Electric finally brings an extended Stage 3 high-inventory OFO to a halt today. The OFO, which caused steep plunges at PG&E-related pricing points Friday when it was issued for Saturday, got extended through Sunday at zero tolerance for positive daily imbalances. The tolerance was loosened considerably to 15% in Monday’s OFO, but $5/Dth penalties remained in place.

In an effort to halt the exercise of significant market power inthe California bulk power markets, FERC staff has proposed that thestate-run Independent Operator System (Cal-ISO) be permitted tomitigate prices on power transactions in its real-time marketsduring periods of reserve deficiencies, such as Stage 3emergencies.

In an effort to halt the exercise of significant market power inthe California bulk power markets, FERC staff has proposed that thestate-run Independent Operator System (Cal-ISO) be permitted tomitigate prices on power transactions in its real-time marketsduring periods of reserve deficiencies, such as Stage 3emergencies.

Slightly constructive long-lead weather forecasts and animportant technical signal prompted natural gas futures to arrestdownward momentum yesterday and eke out a narrow gain in a quietsession. Many traders elected to wait on the sidelines for aclearer price picture to develop.

A gas quality problem that prompted NGPL to halt schedulingSaturday at its Transok-Bryan interconnect in Bryan County, OK hasbeen resolved. NGPL resumed scheduling receipts there Monday.

In an emergency motion filed at FERC last week, eight powermarketers serving California asked the Commission to bar theCal-ISO and Cal-PX from disclosing confidential information abouttheir companies and/or practices – absent adequate safeguards – tostate agencies investigating the out-of-control electricity marketin the state.

In an emergency motion filed at FERC this week, eight powermarketers serving California asked the Commission to bar theCal-ISO and Cal-PX from disclosing confidential information abouttheir companies and/or practices — absent adequateconfidentiality safeguards — to state agencies investigating theout-of-control electricity market in the state.

This week’s price slide almost, but not quite, came to a haltWednesday. Some points were flat and a few managed small upticks,but those were outweighed by small declines that only rarelysurpassed a nickel.

Energy America, the Sempra Energy affiliate that was forced by NewJersey’s Board of Public Utilities (NJBPU) to halt retail activitiesbecause of slamming charges last December, reached a final agreementwith the NJBPU and New Jersey Division of Consumer Affairs (NJDCA)that will allow it to resume efforts to sign up New Jersey residentialand small-business customers. Under the settlement, Energy Americawill contribute $140,000 each to the NJBPU and NJDCA to furtherconsumer education on energy deregulation and to fund futureinvestigative and enforcement activities. By March Energy America willbegin to deliver electricity to its customers, when local utilityPublic Service Electric & Gas is expected to complete theelectronic switchover for customer accounts. After the Sempraaffiliate halted its activities in December, it spent five weeksrevising its marketing and training materials (see Daily GPI, Jan. 21)