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In a speech to natural gas buyers, sellers and transporters at the LDC Forum in Boston Thursday, Federal Energy Regulatory Commission Chairman Curt Hebert, Jr. challenged his audience to use all the “clubs in their bags” to ensure that free market forces — and not price caps — are the future of the gas marketplace.

Positioning itself to become a top tier national energymarketing and trading merchant, Allegheny Energy Inc. announcedyesterday it will acquire Global Energy Markets (GEM), the energycommodity marketing and trading arm of Merrill Lynch & Co.Subsidiary Allegheny Energy Supply LLC will pay $490 million andgive its new partner a 2% equity interest. In turn, Merrill Lynchwill refer clients to its partner.

Houston-based Dynegy Inc., setting itself up as likely competition for current online trading king EnronOnline, has launched Dynegydirect, its own B2B trading site for energy and communications commodities. The new system will give its customers self-service access to bid and offer prices across U.S. power, natural gas and natural gas liquids products.

Houston-based Dynegy Inc., setting itself up as possiblecompetition for its cross-town Houston marketer Enron, has launchedDynegydirect, a B2B trading site for energy and communicationscommodities, which will give customers self-service access to bidand offer prices across U.S. power, natural gas and natural gasliquids products. CEO Chuck Watson said the site would extend thecompany’s “global reach through customized electronic solutions.”

Independent Energy Holdings PLC, an electric generating andelectric marketing company, has found itself the target of afederal class action lawsuit for stock fraud brought by thecompany’s shareholders, according to law firm Berman DeValerio& Pease LLP.

Independent Energy Holdings PLC, an electric generating andelectric marketing company, has found itself the target of afederal class action lawsuit for stock fraud brought by thecompany’s shareholders, according to law firm Berman DeValerio& Pease LLP.

After operating more than half a century as an integratedbusiness, Southwestern Energy Co. has poised itself to become apure exploration and production company, a strategic move that willfocus the company’s assets on its drilling program in the Arkomaand Permian Basins and onshore Gulf Coast.

Some Capitol Hill lawmakers and energy experts believe theUnited States may be setting itself for another energy crisis 10 to20 years down the road by relying to heavily on natural gas to fuelnew power generation facilities.

Some Capitol Hill lawmakers and energy experts believe theUnited States may be setting itself up for another energy crisis 10to 20 years down the road by relying too heavily on natural gas tofuel new power generation facilities.