To say the weather had an impact on the natural gas futuresmarket last week might be the biggest understatement of the newmillennium. After all, not a day went by that neither forecasters’predictions, nor ever-changing weather itself did not play intotraders’ decisions. Add to that the fact different independent andgovernmental forecasting agencies were not always in agreement. Itall came to a head last Friday when prices soared early in the dayin anticipation of the return of cold temperatures in the Northeastfor the weekend, only to come crashing down that afternoon upon therelease of a fresh medium-range forecast for this week. The Marchcontract was the hardest hit by the sell-off, tumbling 2.2 cents tofinish at $2.57 Friday. Less dependent on the near-term forecast,the outer months managed to hold onto small advances into theclose.
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Articles from Millennium
Northeast Prices Leave Gulf Points Far Behind
It may be time for all the critics of the proposed Independence,MarketLink and Millennium expansions to pipe down. Gasdeliverability to the Northeast clearly is not as rosy as manyindustry experts once thought as illustrated by the record high gasprices last week during a period of extreme cold.
Lead Pipes to the Northeast Turn into Gold
It may be time for all the critics of the proposed Independence,MarketLink and Millennium expansions to pipe down. Transportationto the Northeast market from the Gulf of Mexico rocketed to$16.50/MMBtu yesterday. Gas prices at the New York City Gate onTranscontinental Gas Pipe Line jumped as high as $19/MMBtu whileHenry Hub spot prices languished in the $2.50s. Deliverabilityclearly is not as rosy as many industry experts once thought.
Maritimes Begins Gas Flow To Start the New Year
Maritimes & Northeast Pipeline celebrated the new millenniumwith the rattle and hum of initial gas flowing from the shorelineof Nova Scotia 650 miles to markets in the northeastern UnitedStates. After struggling through an 11th hour Indian dispute inCanada, the pipeline company said it opened its valves Jan. 1.
Y2K: Y Should U Kare?
You shouldn’t unless you were one of the thousands of workerswho spent millions of person-hours over the last few years sweatingthe millennium bug out of your company’s systems. If that was you,congratulations; you’ve made this last new year slightly morememorable than Hands Across America Day. Now it’s time for anyfood-hoarding doomsayers to get busy: You’ve got a lot ofstockpiled chips and salsa to get rid of.
Maritimes Begins Gas Flow to Start the New Year
Maritimes & Northeast Pipeline celebrated the new millenniumwith the rattle and hum of initial gas flowing from the shorelineof Nova Scotia 650 miles to markets in the northeastern UnitedStates. After struggling through an 11th hour Indian dispute inCanada, the pipeline company said it opened its valves Jan. 1.
Y2K: Y Should U Kare?
You shouldn’t unless you were one of the thousands of workerswho spent millions of person-hours over the last few years sweatingthe millennium bug out of your company’s systems. If that was you,congratulations; you’ve made this last new year slightly morememorable than Hands Across America Day. Now it’s time for anyfood-hoarding doomsayers to get busy: You’ve got a lot ofstockpiled chips and salsa to get rid of.
2000 Swing Market Begins on Slightly Softer Note
Disregarding debate over whether the new millennium has alreadybegun or won’t arrive until nearly a year from now, gas tradersgreeted the year 2000 by sending spot prices moderately lower. Itwas hardly surprising that the January aftermarket would open on adownward trend, a Texas marketer said. “We’ve been wondering whythis market has remained up as much it did. Everything seemsbearish.”
FERC Sets RTO Rules for Power Grid
On the brink of the new millennium the Federal Energy RegulatoryCommission last week issued Order 2000 to take the bulk powermarket the next step toward a competitive grid with a final rulesetting the parameters for independent Regional TransmissionOrganizations (RTOs). The vote was 4-0 with Commissioner VickyBailey recusing herself.
FERC Sets RTO Rules for Power Grid
On the brink of the new millennium the Federal Energy RegulatoryCommission issued Order 2000 to take the bulk power market the nextstep toward a competitive grid with a final rule setting theparameters for independent Regional Transmission Organizations(RTOs). The vote was 4-0 with Commissioner Vicky Bailey recusingherself.
