Cash quotes again moved higher Monday but mostly in smallamounts of less than a nickel, reacting to new strength in the gas,crude oil and heating oil futures contracts and getting some extrasupport from colder weather in major northern market areas.
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MidAmerican Steps Up IL Activity as Merger Nears Finish Line
Last week was busy for MidAmerican Energy Holdings, as it movedcloser to completing its sale to Berkshire Hathaway Inc. while alsoannouncing intentions to step up efforts in Illinois’ retail energymarket. Once the merger is finalized, the parent of a utilityserving 653,000 electric customers and 622,000 gas customers inIowa and Illinois will become a privately-held company.
CMS Ups LNG Shipments With Qatar Cargoes
CMS Energy moved a step closer to its liquefied natural gas(LNG) goals last week as its energy marketing arm, CMS Marketing,Services and Trading, (CMS-MST) purchased three LNG shipments fromRas Laffin LNG Co. Limited (Rasgas) in Qatar. The three cargoes,carrying a combined 8.1 Bcf, will be delivered in November andDecember of this year and in February of 2000 to CMS’ LNG complexin Lake Charles, LA, then fed into CMS Trunkline’s interstatepipeline system. The overall cost for the shipments was notreleased.
CMS Scores More LNG
CMS Energy moved a step closer to its liquefied natural gas(LNG) goals yesterday, as its energy marketing arm, CMS Marketing,Services and Trading, (CMS-MST) purchased three LNG shipments fromRas Laffin LNG Co. Limited (Rasgas) in Qatar. The three cargoes,carrying a combined 8.1 Bcf, will be delivered in November andDecember of this year and in February of 2000 to CMS’ LNG complexin Lake Charles, LA, then fed into CMS Trunkline’s interstatepipeline system. The overall cost for the shipments was notreleased.
Market Favors Bulls in Pre-AGA Trade
After etching a $2.66 low early yesterday, the futures marketmoved higher on continued speculative buying pressure and bullishconcerns over today’s release of fresh storage data. The Septembercontract finished at $2.708, up 0.8 cents on the day.
Futures: Buy the Rumor, Sell the Refill
After a lower open at the bell yesterday, the futures marketmoved higher and easily recouped Tuesday’s losses. The Julycontract finished up 6.7 cents and in doing so registered anoutside up-day on the daily charts.
Texas Nears Restructuring
Texas moved a step closer to a restructured electricitymarketplace last week when the state Senate approved a bill toderegulate electric utilities. The bill is now bound for the StateAffairs Committee of the House of Representatives. Hearings couldbe held as early as March 29. Gov. George W. Bush has voiced hissupport for electric deregulation.
Texas House Eyes Restructuring
Texas moved a step closer to a restructured electricitymarketplace Wednesday when the state Senate approved a bill toderegulate electric utilities. The bill is now bound for the StateAffairs Committee of the House of Representatives. Hearings couldbe held as early as March 29. Gov. George W. Bush has voiced hissupport for electric deregulation.
Cinergy Consolidates ProEnergy Purchase
Cinergy Corp. has moved to integrate its purchase of ProducersEnergy Marketing, LLC (ProEnergy) with its own commodity marketingoperation, cutting some ProEnergy executives and planning theintegration of its smaller Houston office into the larger ProEnergyfacilities in Houston.
Avista Energy, Vitol G&E Merged
Avista Energy announced today it has moved into the top ten inthe power marketing ranks with completion of its acquisition ofVitol Gas & Electric LLC, one of the top 20 energy marketingcompanies in the United States.