Marketplace

Alberta’s energy marketplace is on the verge of a major overhaul to both its deregulated natural gas and power markets, which, among other things, would converge electricity and gas plans, allow long-term contracts for the retail market, and provide pool price flow-through for power and monthly spot prices “in perpetuity” for gas. With a draft approved already by government and stakeholder groups, the proposals will be considered by the Alberta legislature next spring.

The energy marketplace, investors and credit analysts appeared to have little faith in Dynegy’s ability to turn its deteriorating financial picture around last week. The three credit ratings agencies cut the merchant not once but twice, the stock fell as low as 51 cents a share at one point, and counterparties were apparently ditching the company for safer ground. By Friday, buoyed by rumors that its subsidiary Illinois Power Co. may be close to being sold, optimism was up, albeit slightly, with more buyers than sellers — the price gained as much as 20 cents at midday.

The energy marketplace, investors and credit analysts appear to have little faith in Dynegy Inc.’s ability to turn its deteriorating financial picture around, because Thursday the three credit ratings agencies carved another slice from Dynegy Inc. and its affiliates’ ratings. Standard & Poor’s Rating Services, in concert with Moody’s Investors Service and Fitch Ratings, noted that the energy marketer’s liquidity is quickly disappearing and its ability to bring in cash is weakening.

The energy marketplace, investors and credit analysts appear to have little faith in Dynegy Inc.’s ability to turn its deteriorating financial picture around, because Thursday the three credit ratings agencies carved another slice from Dynegy Inc. and its affiliates’ ratings. Standard & Poor’s Rating Services, in concert with Moody’s Investors Service and Fitch Ratings, noted that the energy marketer’s liquidity is quickly disappearing and its ability to bring in cash is weakening.

The Federal Energy Regulatory Commission’s investigation of possible manipulation of energy prices is a critical first step toward wiping away the taint that blankets the entire energy industry in the wake of the Enron Corp. financial scandal and the energy deregulation flop in California, said Commissioner Nora Mead Brownell.

After going live one year ago, online commodity marketplace IntercontinentalExchange (ICE) reported that more than 250,000 trades have been transacted on its system with a total notional value of over $400 billion. The Atlanta, GA-based company said the first full year of trading for its full spectrum of over-the-counter (OTC) energy and metals products is marked with “impressive levels of liquidity, price transparency and rapidly growing volumes.”

After going live exactly one year ago, online commodity marketplace, IntercontinentalExchange (ICE) reported that more than 250,000 trades have been transacted on its system with a total notional value of over $400 billion. The Atlanta, GA-based company said the first full year of trading for its full spectrum of over-the-counter (OTC) energy and metals products is marked with “impressive levels of liquidity, price transparency and rapidly growing volumes.”

Schlumberger subsidiary IndigoPool.com said Thursday it would provide the online marketplace to divest of seven coalbed methane property packages in the Powder River Basin of Wyoming. The project, co-developed by Waterous & Co. and IndigoPool, allows potential buyers to evaluate the properties online.

Volumes on IntercontinentalExchange, an online marketplace forover-the-counter energy and metals, reported late last week that ithas notched another single day record on its power exchange,trading 4 mmMWh on March 22 on its power. The company said thetrading volume on that day was centered on the popular Cinergy Hub.The new record dethrones the one previously set on Feb. 27, whenthe exchange saw 3 mmMWh in trading.