A shroud of desperation enveloped California officials Monday, stretching from the state Capitol in Sacramento, west to San Francisco, and south to Los Angeles as regulators and a federal bankruptcy judge wrestled with the state’s electricity crisis, but with no indication of when and how the battle will end.
Marks
Articles from Marks
Mild Firmness Marks Most of Weekend Market
A quiet market week showed no inclination for change going intothe weekend. Most points ranged from flat to up a dime, but only afew rose more than a nickel or so. Major departures from theoverall market trend were (where else?) in California, where Malinpushed nearly a dollar higher while the border and PG&Ecitygate slipped about 35-40 cents each.
El Paso Capacity Re-Assignments Upheld at FERC
FERC last week gave El Paso Natural Gas high marks for carryingout firm capacity re-assignments in accordance with a plan that itapproved for the pipeline’s system last October. At the same time,it shot down all of the protests and rehearing requests lodged bySouthern California Gas (SoCal).
FERC Gives Kudos to El Paso for Re-Assigning Capacity
FERC yesterday gave El Paso Natural Gas high marks for carryingout the firm capacity re-allocation plan that it approved for thepipeline’s system last October. At the same time, it shot down allof the protests and rehearing requests lodged primarily by SouthernCalifornia Gas (SoCal).
Initial Legislation in CA Gets Low Marks
California Gov. Gray Davis on Friday signed a short-term measure(AB 7X) to allow the state to get into the bulk power spotpurchasing business immediately. He also ordered the state waterresources department to begin setting up a power auction processanticipating it will be authorized by another new state law thatwill be finalized this week to seek long-term electricitycontracts. Observers and market participants, however, say themeasures probably are inadequate to solve the state’s currentsupply crisis.
AGL Makes Good In Fiscal Third Quarter
AGL Resources’ fiscal third quarter marks the third consecutive quarter the company has exceeded analysts’ predictions. The results also signify the first steadily increasing earnings trend after becoming the first gas utility to completely exit the gas merchant function.
AGL Makes Good In Fiscal Third Quarter
AGL Resources’ fiscal third quarter marks the third consecutivequarter the company has exceeded analysts’ predictions. The resultsalso signify the first steadily increasing earnings trend afterbecoming the first gas utility to completely exit the gas merchantfunction.
Deepwater Drilling Gets Good Marks from MMS
Routine drilling operations in the Gulf of Mexico’s deepwaterpose little threat to the environment or human health, and, infact, play a significant role in the socioeconomic status of itsport communities. That’s the conclusion of a new report by theMinerals and Management Service (MMS) of the U.S. Department ofInterior, which published its conclusions for a projected 10-yearperiod on deepwater operations between 1998-2007.
Deepwater Drilling Gets Good Marks from MMS
Routine drilling operations in the Gulf of Mexico’s deepwaterpose little threat to the environment or human health, and, infact, play a significant role in the socioeconomic status of itsport communities. That’s the conclusion of a new report by theMinerals and Management Service (MMS) of the U.S. Department ofInterior, which published its conclusions for a projected 10-yearperiod on deepwater operations between 1998-2007.
Senate Panel Marks Up Coalbed Methane Bill
The U.S. Senate Energy Committee passed S. 1950, the PowderRiver Basin Resource Development Act, by a voice vote yesterday.Sens. Craig Thomas and Mike Enzi (R-WY) said it provides for thefair and expeditious resolution of conflicts between oil and gasproducers and coal producers with overlapping leases in the PowderRiver Basin in Wyoming and southern Montana.