Kept

Sonat kept a Type 6 OFO that was implemented Saturday in effect through at least Tuesday.

Relatively light air conditioning load outside the West kept cash prices in a general decline Thursday, although nearly all drops were less than a dime and many points were flat or managed tiny gains. A bearish Nymex response to the storage report, prospects for continued weakness in weather fundamentals and the typical loss of industrial demand over a weekend are likely to have quotes falling again Friday, sources said.

Florida Gas Transmission kept an Overage Alert Day notice with 20% imbalance tolerance in place through Saturday, then lifted it Sunday. A new OAD notice with 15% tolerance for negative daily imbalances was issued for the pipeline’s market area Monday.

Southern California Gas kept an Overnominations Day alert in effect from Friday through Sunday before ending it Monday.

Standard & Poor’s Ratings Services on Wednesday kept Aquila Inc.’s credit rating at investment grade, albeit one notch above “junk” status. Analyst Todd Shipman said Aquila’s credit profile had been “stressed,” but found that “management has taken and is expected to continue to take steps that will preserve credit quality in the triple ‘B’ area.”

Significant balance sheet challenges kept at least one Wall Street rating agency restrained in its outlook following Bellevue, WA-based Puget Energy’s report of record second quarter earnings last Thursday. Puget’s second quarter results showed $29.4 million, or 34 cents/common share, in net income, compared to second quarter results last year of $17.4 million, or 20 cents/share.

Florida Gas Transmission kept an Overage Alert Day notice for its market area in place through at least Friday and further tightened the tolerance for negative daily imbalances from 10% to 5%. FGT also said that as a result of the cold weather in Florida, it postponed the Phase V expansion-related work at Compressor Station 14 that had been scheduled for the Jan. 5-6 weekend (see Daily GPI, Dec. 19, 2001). The two-day Station 14 work is now set to begin Wednesday.

Florida Gas Transmission kept an Overage Alert Day notice for its market area in effect through at least Thursday and tightened the tolerance for negative daily imbalances from 15% to 10%.

Florida Gas Transmission kept an Overage Alert Day notice in effect for its fourth day through at least Friday and tightened the tolerance for negative daily imbalances from 15% back to 10% again.