Kept

Pacific Gas and Electric kept the same conditions in effect while extending a systemwide Stage 2 high-inventory OFO through at least Thanksgiving Day on its California Gas Transmission system.

Pacific Gas and Electric kept a systemwide high-inventory OFO on its California Gas Transmission system in place at least through Friday but lowered the category from Stage 3 to Stage 2, loosened the tolerance on daily positive imbalances from 5% to 12% and reduced penalties for exceeding the tolerance from $5/Dth to $1/Dth.

Pacific Gas and Electric (PG&E) kept a systemwide Stage 2 high-inventory OFO that was issued for Saturday on its California Gas Transmission system in effect through at least Tuesday. Noncompliance penalties stayed unchanged, but after maintaining the tolerance for positive daily imbalances at the original 5% through Sunday, PG&E tightened it to 3% Monday and Tuesday.

Pacific Gas and Electric kept a systemwide Stage 2 high-inventory OFO in effect through at least Thursday but loosened the tolerance on positive daily imbalances from 5% to 12%; noncompliance penalties were unchanged.

To no one’s surprise, prices kept falling at most points Monday as weather-based demand remained weak and the previous Friday’s 17.3-cent drop by October futures in their prompt-month debut continued to put negative pressure on the cash market. However, the restoration of industrial load from its usual weekend decline, along with heat in some areas, allowed quite a few scattered points to be flat to nearly C25 cents higher.

Canadian natural gas exporters are taking a beating. Volumes fell by 17%, prices tumbled 68% and revenues plunged 74% in May, according to the latest trade records kept by the National Energy Board (NEB).

Canadian natural gas exporters are taking a beating. Volumes fell by 17%, prices tumbled 68% and revenues plunged 74% in May, according to the latest trade records kept by the National Energy Board (NEB).

Weak guidance from Tuesday’s screen kept almost all cash points headed lower on Wednesday despite indications that the 2009 Atlantic hurricane season might soon arrive.

Natural gas cash market prices across the country on Monday were mostly neutral to slightly down as traders kept a watchful eye on a strengthening tropical wave off the West African coast that could become the first real threat to the United States of the 2009 Atlantic hurricane season.