After failing to sustain a move above Wednesday’s highs, natural gas futures tumbled lower into the close yesterday as traders took another crack at the psychologically important $2.00 mark. The February contract finished at $2.048, down 2.8 cents for the session and just above its freshly-etched low at $2.025. There was some bullish encouragement, however, from the March and April contracts, which managed to buck the trend and post modest gains for the day.
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Enron: Bankruptcy May Delay Asset Sales; Investors Mull Trading Unit Buy
Adding insult to injury, Enron Corp.’s bankruptcy may complicate its anticipated sale of $800 million in assets that were already on the books because of due diligence issues, the company disclosed Monday. The asset sales, slated to be completed by the end of this month, include oil and natural gas fields in India, Brazilian gas utilities and its stake in a Puerto Rican power plant and liquefied natural gas terminal. Enron remains optimistic, however, that the sales will close, according to a spokesman.
MT Citizen Groups Mull Energy Ballot Initiative Push
Several consumer groups in Montana, including the local chapter of the Public Interest Research Group (PIRG), want to pursue ballot initiatives that would call for the repeal of sections of the state’s deregulation law and a ratepayer rebate that would be funded by excess profits from generators.
Generators Decry Lawsuit, Mull Possible Davis Meeting
Out-of-state power generators that have taken much of the flak for all that’s gone wrong in California’s electricity markets last Thursday blasted a recent lawsuit by California Lt. Gov. Cruz Bustamante and Assemblywoman Barbara Matthews that accused the companies of engaging in illegal price fixing activities. As they prepare to wage war on yet another legal front, those same generators are mulling whether now is the right time to sit down with California Gov. Gray Davis to discuss the state’s energy crisis.
Generators Decry Lawsuit, Mull Possible Davis Meeting
Out-of-state power generators that have taken much of the flack for all that’s gone wrong in California’s electricity markets on Thursday blasted a recent lawsuit by California Lt. Gov. Cruz Bustamante and Assemblywoman Barbara Matthews that accused the companies of engaging in illegal price fixing activities. As they prepare to wage war on yet another legal front, those same generators are mulling whether now is the right time to sit down with California Gov. Gray Davis to discuss the state’s energy crisis.