Latter

Using authority it was granted in recent years, the Los Angeles Department of Water and Power (LADWP) is in the latter stages of year-long negotiations for “pre-paid” natural gas supplies and, in some cases, purchase of gas reserves, an official with the city-run utility told NGI on Wednesday.

Using authority it was granted in recent years, the Los Angeles Department of Water and Power (LADWP) is in the latter stages of year-long negotiations for “pre-paid” natural gas supplies and, in some cases, purchase of gas reserves, an official with the city-run utility told NGI on Wednesday.

Much of the price hemorrhaging that dominated the latter half oflast week’s cash market was well on its way to being stanchedMonday. Eastern points were only a tad softer, with few falling anymore than about a nickel, and most western points realized small tomoderate gains.

Prices continued to build Monday on the strong foundationdeveloped in the latter half of last week. Only the NorthernCalifornia points of Malin and the PG&E citygate failed to gaina dime or more.

FERC yesterday approved the mergers of Illinova Corp. and DynegyInc. and Dominion Resources Inc. and Consolidated Natural Gas(CNG). But it placed conditions on its blessing of the lattermerger transaction, citing competitive concerns.