Means

Its strategic move to become a major North American liquefied natural gas (LNG) conduit means San Diego-based Sempra Energy’s credit ratings must be reassessed, a research report released Thursday by Standard & Poor’s Ratings Services (S&P) said. Sempra’s relatively strong ratings (BBB+/Stable/A-2) currently do not consider it being in the LNG business.

Its strategic move to become a major North American liquefied natural gas (LNG) conduit means San Diego-based Sempra Energy’s credit ratings must be reassessed, a research report released Thursday by Standard & Poor’s Ratings Services (S&P) said. Sempra’s relatively strong ratings (BBB+/Stable/A-2) currently do not consider it being in the LNG business.

Following Thursday’s price surge that seemed to many to have no visible means of support, Friday’s numbers were in retreat nearly across the board. A smidgen of flatness in the Rockies belied overall softness that saw declines ranging from about a nickel to nearly half a dollar. Most were in the range of 10-30 cents.

The low level of residual fuel and distillate inventories this winter means there will be less fuel available for switching and a higher natural gas price threshold for consumers to begin switching, according to bullish analysts at Raymond James & Associates.

The low level of residual fuel and distillate inventories this winter means there will be less fuel available for switching and a higher natural gas price threshold for consumers to begin switching, according to bullish analysts at Raymond James & Associates.

Claiming it has a more cost-effective, quicker solution, California’s regulatory commission last week filed the outline of its plan for reorganizing bankrupt Pacific Gas and Electric Co. with a federal bankruptcy court in San Francisco. Creditors would be paid off by the end of January next year, at which time utility electricity rates would be lowered, ultimately saving consumers billions of dollars.

Distrigas of Massachusetts LLC declared force majeure Friday — which means that it is unable to meet the contract demand of its 20 “or so” large customers — only days after the U.S. Coast Guard banned a tanker filled with liquefied natural gas (LNG) and destined for the company’s Everett, MA, terminal from entering Boston Harbor due to safety and security concerns, a federal regulatory spokeswoman said.

Distrigas of Massachusetts LLC declared force majeure Friday — which means that it is unable to meet the contract demand of its 20 “or so” customers in New England — only days after the U.S. Coast Guard banned a tanker filled with liquefied natural gas (LNG) and destined for the company’s Everett, MA, terminal from entering Boston Harbor due to safety and security concerns, a FERC spokeswoman said.

A concerted push by utilities and industries in the Pacific Northwest to implement load reductions means that the Bonneville Power Administration (BPA) will only have to raise wholesale power rates by 46% starting the first of October, a not insubstantial rate hike, but a far cry from the 250% or more increases being bandied about by the BPA just two months ago (see Daily GPI, April 11; June 8).