Inventory

Pacific Gas and Electric ended a two-day Stage 2 high-inventory OFO Sunday.

Pacific Gas and Electric extended the systemwide Stage 2 high-inventory OFO that began Friday through at least Saturday with no change in conditions.

Pacific Gas and Electric issued a systemwide Stage 2 high-inventory OFO for Friday on its California Gas Transmission system. Penalties of $1/Dth will apply to customers that exceed a 5% tolerance on positive daily imbalances.

Tennessee lifted Friday an Imbalance Warning for Zones 5 and 6, but asked customers to stay in balance.

Pacific Gas and Electric (PG&E) issued a systemwide Stage 2 low-inventory OFO for Friday on its California Gas Transmission system, setting penalties at $1/Dth for shippers exceeding a 5% tolerance on negative daily imbalances. PG&E also said its Redwood Path is restricted to 1.7 Bcf/d, or 78% of maximum capacity, through the end of March due to an outage of Delevan Compressor Station.

April natural gas futures jumped higher Thursday following the release of government inventory data. The Energy Information Administration reported that for the week ended March 11, 56 Bcf was withdrawn from storage, above what the market was looking for. At the close April was up 22.0 cents to $4.158 and May advanced 22.4 cents to $4.234. April crude oil jumped $3.44 to $101.42/bbl.

Pacific Gas and Electric issued a systemwide Stage 2 low-inventory OFO on its California Gas Transmission system for Wednesday, setting penalties of $1/Dth for exceeding a 5% tolerance on negative daily imbalances.

March natural gas futures slid lower Thursday as traders focused on near-term warmth and paid little heed to a government inventory report showing the second largest withdrawal from gas inventories of the season. By the end of the session March was 5.3 cents lower at $3.868 and April fell 6.0 cents to $3.901. March crude oil rose $1.37 to $86.36/bbl.

Pacific Gas and Electric did not extend a systemwide low-inventory OFO beyond Thursday.