Hour

FERC Chairman Joseph Kelliher made his case last week to serve a second term as the country’s top energy regulator in a two-hour hearing before the Democrat-controlled Senate Energy and Natural Resources Commission. Although generally supportive of President Bush’s nominee, some senators said they will await more detailed answers before passing Kelliher’s nomination to the Senate for a confirmation vote.

FERC Chairman Joseph Kelliher made his case to serve a second term as the country’s top energy regulator Thursday in a two-hour hearing before the Democrat-controlled Senate Energy and Natural Resources Commission. Although generally supportive of President Bush’s nominee, some senators said they will await more detailed answers before passing Kelliher’s nomination to the Senate for a confirmation vote.

Moving the clock ahead an hour for daylight saving time three weeks early could help shave peak power demand in California by 3% for the rest of March, although no one will know for sure if the federally mandated change will make any appreciable difference until more data is collected during the next three weeks, the California Energy Commission (CEC) announced last Friday before the time switch.

Despite eleventh-hour negotiations, House and Senate leaders headed home for the November elections without reaching a compromise on legislation to open up more of the federal offshore to oil and natural gas leasing. The Republican leadership is expected to take up the issue of coastal drilling in the lame-duck session, which — depending on the outcome of the elections — could make a deal even more elusive.

Despite eleventh-hour negotiations, House and Senate leaders headed home for the November elections without reaching a compromise on legislation to open up more of the federal offshore to oil and natural gas leasing. The Republican leadership is expected to take up the issue of coastal drilling in the lame-duck session, which — depending on the outcome of the elections — could make a deal even more elusive.

A number of energy bills passed by the California legislature at the eleventh hour late last month sit in limbo with Gov. Arnold Schwarzenegger remaining silent on whether he will sign the various bills into law.

A number of energy bills passed by the California legislature at the eleventh hour late last month sit in limbo with Gov. Arnold Schwarzenegger remaining silence on whether he will sign the various bills into law.

After gapping lower to open Friday at $14.850, January natural gas climbed quickly in the first hour of trading, producing fear that the market was going to spike again like it did Thursday. After reaching a new all-time prompt month high of $15.200 at 10:44 a.m. EST, January backed down, putting to rest the possibility of back-to-back spikes. The front month ended up closing at $14.312, down 68.2 cents on the day but 38.1 cents higher than the previous Friday’s settle.

In the 11th hour, FERC struck from its Wednesday meeting agenda a request by the Committee of Chief Risk Officers (CCRO) that would grant the CCRO’s energy data hub and its participants the same “safe harbor” protection that is afforded to companies that currently submit pricing information to index publishers.