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Voluntary curtailments of electrical use by some medium- tolarge-size customers was implemented Wednesday in the northern halfof California as officials and utilities continued to monitorclosely a lingering heat wave in the inland parts of the state,driving natural gas loads to the max for electric generationplants.

The cash market was very much a mixed bag Monday, with largerebounds in the West arrayed against small price movements up anddown (but more down than up) in the East. However, because thegreat majority of the screen’s dazzling display of strengthoccurred following the close of cash business, sources found reasonto expect a bullish market in physical gas today even without muchweather-related support.

The cash market, not having much in the way of new influencesother than a large drop in crude oil futures, got quieter Tuesdayin both activity level and price movement. Few points ranged anyfurther than 2-3 cents up or down from flat.

Today’s conference was brought to you by the letter E. Indeed,the fifth letter of the alphabet loomed large on the first day ofthe Cambridge Energy Research 19th annual Executive Conference inHouston yesterday.

Recriminations, investigations and large dollar lawsuits wereflying last week in the wake of the failed Oneok-Southwest Gasmerger.

Higher oil and gas prices spurred industry leaders ExxonMobiland Chevron to large leaps in fourth quarter 1999 earnings over thedepressed 4Q 1998. The two companies reported fourth quarterrealized U.S. natural gas prices up about 50 cents/Mcf over 4Q 1998and the full year average up about 15 cents over 1998. Unocal,Texaco and Conoco also enjoyed significant price appreciationfourth quarter over fourth quarter, although not as much gainyear-to-year.

Higher oil and gas prices spurred industry leaders ExxonMobiland Chevron to large leaps in fourth quarter ’99 earnings over thedepressed 4Q 1998.

Despite large increases in both operating income and income fromcontinuing operations, Columbia Energy Group’s 1999 bottom lineregressed from 1998, as a hostile takeover bid from NiSourcecombined with severe losses caused by Columbia’s marketingoperations to undermine the company’s overall performance.

S&S Energy Products, a GE Power Systems business, wasawarded a $280 million contract from Reliant Energy of Houston toprovide 19 GE LM6000 aeroderivative gas turbine-generator sets,auxiliary and balance-of-plant equipment.