Lost

Westcoast declared force majeure after its Pine River Plant lostelectrical power and was forced to shut down all processingoperations late Wednesday afternoon. The plant had reported 153MMcf in receipts for Wednesday’s gas day. One-third of Pine River’soperational capacity had been restored around midnight PSTWednesday, two-thirds was operational at 8 a.m. Thursday, “and Isee [from SCADA instrumentation] that we’ve just now returned to100%,” a plant spokesman told NGI shortly after 1 p.m. Thursday.

Except for falling San Juan Basin and Malin numbers, prices sawfairly substantial rebounds in post-weekend trading Monday. Coldweather prevailing throughout most of the eastern U.S., highlightedby a potentially severe winter storm developing in the Northeast,plus a large loss of offshore production, were primarilyresponsible for the firmness, sources said.

Lost in the higher profile aspects of California’s chronicpage-one headlines surrounding its energy crisis is the statelegislature’s inclusion of a ban on retail direct access powerdeals, dealing the few remaining nonutility power retailers whatcould be a death blow unless a corrective legislative solution isfound. That corrective action was pursued last week when the headof the state Senate energy committee, state Sen. Debra Bowen,proposed to reinstitute retail energy sales (SB 27X) as part of themeasures being tossed around in the second month of a special statelegislative session called by the governor to address theemergency.

The lead plaintiff deadline was last week for class action lawsuits on behalf of Avista Corp.’s stockholders who may have lost money after the company reported a loss of $22 million in the second quarter. The losses followed unhedged power trades in the forward market in the second quarter.

The lead plaintiff deadline is today for class action lawsuitson behalf of Avista Corp.’s stockholders who may have lost moneyafter the company reported a loss of $22 million in the secondquarter. The losses followed unhedged power trades in the forwardmarket in the second quarter.

Protesters won the opening skirmish, but still lost the firstbattle in a developing new war over expanding natural gas exportsbetween Canadian conservationists and energy consumers on theattacking side and the industry on the defense.

Due to nomination increases exceeding available capacity reducedby a lost engine at Station 315, Tennessee bumped flowingInterruptible services (IT-X, IT, AOT, PAT, Payback, EDS/ERS) andrestricted nominated services through Secondary (IT-X, IT, AOT,PAT, Payback, EDS/ERS, Secondary) for meters downstream of MLV 314on the 300 line effective 1700 for yesterday’s gas day.

TransCanada PipeLines Ltd. won a reprieve from a feared revenuehemorrhage but lost a battle for rights to administer strongmedicine of its own making against recurrences of the threat. In aruling on lengthy, hard-fought winter hearings, the National EnergyBoard authorized TransCanada to raise floor prices forinterruptible delivery service on excess capacity to 80% of ratesfor firm service from 50%, effective May 1. But the NEB rejectedpleas by the pipeline to decide independently on setting variableminimum charges on leftover space depending on its reading ofmarket conditions.

TransCanada PipeLines Ltd. won a reprieve from a feared revenuehemorrhage but lost a battle for rights to administer strongmedicine of its own making against recurrences of the threat. In aruling on lengthy, hard-fought winter hearings, the National EnergyBoard authorized TransCanada to raise floor prices forinterruptible delivery service on excess capacity to 80% of ratesfor firm service from 50%, effective May 1. But the NEB rejectedpleas by the pipeline to decide independently on setting variableminimum charges on leftover space depending on its reading ofmarket conditions.