Maximum

Due to linepack threatening to rise above maximum target levels, Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO for Thursday. Penalties are $1/Dth for positive daily imbalances exceeding a 4% tolerance.

Citing maximum withdrawals at its Washington Ranch storage facility, El Paso declared an Unauthorized Overpull Penalty situation Tuesday. The pipeline also said the Flagstaff (AZ) Station’s #1 unit requires extensive repairs that will make the station unavailable through April 9. The work reduced capacity of the North Mainline by about 90 MMcf/d effective with Tuesday’s Cycle 2 nominations.

Saying its Washington Ranch storage facility was experiencing maximum withdrawals, El Paso declared an Unauthorized Overpull Penalty situation Tuesday. The pipeline said it would limit scheduled volumes at underperforming interconnects to insure system integrity.

El Paso declared an Unauthorized Overpull Penalty situation Sunday, saying its Washington Ranch storage facility was at maximum withdrawal.

Hurricane Isabel, packing super-powerful maximum sustained winds of nearly 140 mph and pointing at shooting the gap between southern Florida and Cuba, was accorded most of the credit Wednesday for rallying cash prices and sustaining a futures run-up. Cash market movement ranged from flat to slightly more than a dime higher. Most of the smallest gains were clustered at California and Rocky Mountains/Pacific Northwest points, which tend to be least affected by hurricane disruptions of offshore supply.

Saying its Washington Ranch storage facility was experiencing maximum withdrawals, El Paso declared an Unauthorized Overpull Penalty situation Sunday. The situation was still in place Monday until further notice, the pipeline said. To insure system integrity, it will limit scheduled volumes at interconnects that are underperforming.

Projecting that its linepack would rise above maximum target levels over the weekend, Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO for Saturday. The order carried penalties of $1/Dth for exceeding a relatively lenient tolerance of 9% for positive daily imbalances.

Tennessee said it was ceasing enforcement Tuesday of a Balancing Party’s Maximum Allowable Volume.

U.S. District Judge Melinda Harmon handed Arthur Andersen LLP the maximum sentence in Houston on Wednesday — five years probation and a $500,000 fine — for obstructing justice in its handling of Enron Corp.-related documents that stymied a federal investigation of the company’s finances. Although it seemed minuscule when compared to the substantial market damage caused by the Enron scandal, the punishment was the harshest allowed under law. Andersen attorneys said they would appeal.