Indicated

Triple-digit gains at most of the Northeast citygates led an overall cash market advance Friday, as forecasts indicated little let-up this week in the severe winter conditions occupying much of the eastern two-thirds of the U.S. and Canada.

Saying it was experiencing peak day operating conditions Tuesday and that weather and load forecasts indicated this would continue through at least Wednesday, Algonquin will restrict forward haul Authorized Overrun, AIT and due-shipper makeup volumes for Wednesday’s gas day. “The need for any additional restrictions will be evaluated after the timely cycle,” the pipeline added. Later Tuesday afternoon, Algonquin reported experiencing an unscheduled outage at its Southeast Compressor Station affecting mainline throughput. Thus it added “the majority of secondary firm nominations scheduled on a forward haul basis” through Southeast to the previously announced constraints for Wednesday, saying only nominations for incremental Primary No-Notice service will be accepted.

San Diego-based Sempra Energy indicated Monday it was not surprised by a downgrade from Moody’s Investors Service for it and one of its two major utilities, San Diego Gas and Electric Co. Sempra pointed out that Moody’s maintained the “stable” outlook and an investment-grade level rating, and the company attributed the action to the general energy sector’s troubles, rather than weaknesses in its businesses or strategies.

Armed with “preliminary evidence” of manipulation of prices for short-term electric and natural gas markets in western markets, FERC launched formal investigations last week into the potentially illegal pricing activities of three Enron Corp. affiliates — Portland General Electric, Enron Power Marketing and Enron Capital and Trade Resources Corp. — and El Paso Electric, Avista Corp. and marketing affiliate Avista Energy to determine the extent of any wrongdoing and the type of disciplinary actions warranted.

The National Transportation Safety Board (NTSB) indicated last week that it was entering the final stages of its investigation into the cause of the August 2000 explosion on the El Paso Natural Gas South Mainline system that killed 12 members of two extended families in southeastern New Mexico.

EOTT Energy Partners LP and Northern Border Pipeline said Arthur Andersen LLP no longer wants to be their auditor. The two companies said Andersen indicated its resignation was due to “concerns about its ability, under professional standards regarding independence, to continue to act as auditor…in light of recent events involving Enron Corp.”

All signals late Friday indicated that former Enron Chairman and CEO Kenneth L. Lay will testify when he comes before a subcommittee of the Senate Commerce Committee this week, said a spokesman for the full committee.

XTO Energy Inc., Denbury Resources Inc. and Marathon Oil Corp. on Friday indicated they expect to keep production levels up this year, although investment in new opportunities may be delayed until commodity prices rise.

FERC Chairman Pat Wood indicated last week that a final decision on whether Cove Point LNG will be permitted to retain its certificate to reactivate and expand its liquefied natural gas (LNG) import facility should be issued before the end of the year.