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If the analysis of a top industry observer is correct, prices still have some room left to move higher but little time to do so. As the end of the year approaches, traders should be prepared to recognize that the high prices for the season may be in, he said.

If the analysis of a top industry observer is correct, prices still have some room left to move higher, but as the end of the year approaches traders should be prepared to recognize that the high prices for the season may be in.

FERC late Thursday said that it is launching an investigation as a result of allegations that former Enron CFO Andrew Fastow and Enron executive Michael Kopper created partnerships to mask the former energy trading giant’s stake in three wind power farms.

If El Paso continues on its current path, there will be nopipelines left to buy. The Houston-based energy giant stretched itsstreak of purchases yesterday by announcing an agreement betweenits subsidiary, El Paso Natural Gas Co., and Plains All AmericanPipeline L.P. to buy a portion of the All American Pipeline for$129 million. El Paso said it plans to invest $75 million toconvert a segment of the pipeline from an oil pipeline to a naturalgas pipeline upon FERC approval.

If El Paso continues on its current path, there will be nopipelines left to buy. The Houston-based energy giant stretched itsstreak of purchases yesterday by announcing an agreement betweenits subsidiary, El Paso Natural Gas Co., and Plains All AmericanPipeline L.P. to buy a portion of the All American Pipeline for$129 million. El Paso said it plans to invest $75 million toconvert a segment of the pipeline from an oil pipeline to a naturalgas pipeline upon FERC approval.

Several former Enron Corp. executives, who left the company last July and long before it spiraled into bankruptcy, have launched Celeren Corp., which will provide risk management energy services through the sale of energy outsource products for small- to mid-sized businesses and institutions. The Philadelphia-based company also will offer independent power generation services. Celeren, which will serve customers nationwide, will offer commodity procurement and management; capital improvements; financing; and operation and maintenance. Thomas A. Brigger, former Mid-Atlantic regional manager for Enron Energy Services (EES) is CEO and Donald S. Parker, a former regional director for EES, is COO.

Continuing its rapid expansion into the void left by EnronOnline, IntercontinentalExchange (ICE) is making a move into the European over-the-counter (OTC) gas and power markets with the introduction of markets for UK natural gas-related products in December.

Enron Corp’s top two in its ailing broadband division have left the company to pursue other opportunities — Ken Rice, 43, the Broadband Services chairman, and Kevin Hannon, 41, the president and COO. They both had been rumored to be leaving since the unit has lost money since its inception. In April, Enron eliminated 250 employees in the broadband division, and earlier this year, a major deal with Blockbuster Inc. fell through. The broadband unit is now moving into the wholesale services division. The broadband executive team loss follows the departure last month Enron CEO Jeffrey Skilling (see Daily GPI, Aug. 15). Chairman Kenneth Lay resumed the CEO post following Skilling’s resignation, and announced the promotions of Greg Whalley, 39, to president and COO and Mark Frevert, 46, to vice chairman (see Daily GPI, Aug. 29). Whalley and Frevert will serve with Lay in the Office of the Chairman at Enron, which is responsible for strategic planning at the Houston-based company.

TradeSpark has proven it is not being left behind in the energy e-commerce battle with EnronOnline and IntercontinentalExchange (ICE). The electronic trading company reported that its energy trading marketplace, which is powered by eSpeed technology, has transacted $100 billion (notional value) in energy products since its launch in October 2000. The phenomenal growth is similar to that seen by EnronOnline in its first year of trading in 2000.