Kept

The New York Independent System Operator (ISO) walked away fromFERC empty handed yesterday, as the Commission cited itsdisappointment with the regional power group’s failure to reduceconcentration in the 10-minute non-spinning reserves market.

The cash market kept rising in most cases Tuesday, but exceptfor some Northeast citygates with gains of about a nickel or more,quotes generally ranged from flat to only 2-3 cents higher.

Prices kept falling Wednesday but at a slower rate than the daybefore. Even Northeast citygates were putting the brakes on theirdescent, averaging barely more than a dime down.

TransCanada kept the chopping block busy last week with thefinalizing of its U.S. midstream asset sale to the Coastal Corp. The$26 million transaction was originally revealed in November (see DailyGPI, Nov. 24) and completely exitsTransCanada from the U.S. midstream business.

Cash prices kept rising Wednesday but at a considerably slowerrate than on Monday and Tuesday. Most of the new increases werearound a nickel or less, and the Northern California points ofMalin and the PG&E citygate actually fell slightly afterPG&E elected not to extend a low-linepack OFO. Sourcesindicated some retreat is likely today, saying the cash market hadmilked just about all the upside possible out of recent forecastsfor colder weather. In addition, the screen’s decline of nearly adime Wednesday should be a negative influence, they said.

Columbia Natural Resources (CNR) kept its whirlwind ofAppalachian Basin activity alive last week, by announcing thepurchase of gas fields and related assets in Steuben County, NY,from Pittsburgh, PA-based Meridian Exploration Corp. No financialterms of the deal were disclosed. CNR took control of the assetslast week.

Columbia Natural Resources (CNR) kept its whirlwind ofAppalachian Basin activity alive yesterday, by announcing thepurchase of gas fields and related assets in Steuben County, NY,from Pittsburgh, PA-based Meridian Exploration Corp. No financialterms of the deal were disclosed. CNR took control of the assetslast week.

ANR Pipeline, charging Wisconsin Public Service Commission filings by Wisconsin Gas for the Guardian Pipeline project were unlawfully kept secret, is suing the PSC in Dane County, WI, Circuit Court. ANR wants the court to reverse and set aside PSC orders conditionally approving Guardian. ANR seeks remanding of the case and the opportunity to intervene in a contested case hearing.

ANR Pipeline, charging Wisconsin Public Service Commissionfilings by Wisconsin Gas for the Guardian Pipeline project wereunlawfully kept secret, is suing the PSC in Dane County, WI,Circuit Court. ANR wants the court to reverse and set aside PSCorders conditionally approving Guardian. ANR seeks remanding of thecase and the opportunity to intervene in a contested case hearing.