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Adding its name to the growing list of companies that have exited the North American energy marketing and trading function, German super-utility RWE AG said Tuesday that RWE Trading Americas — a subsidiary of RWE Trading GmbH — will exit the market before the end of the year.

The name of the game for the next three weeks at El Paso Corp. will be “proxy,” as opposing sides argue their case to shareholders on whether to keep the current board of directors by voting their white proxy statement or throw out the incumbents by voting their blue proxy statement in time for the annual meeting June 17 in Houston.

Now that the repeal of the Public Utility Holding Company Act (PUHCA) appears more likely, CreditSights analysts have updated a list of U.S. utilities they consider top takeover candidates, again using criteria that the well heeled Oracle of Omaha, Warren Buffet, could use.

Dynegy Inc. is expected to name another executive from ChevronTexaco Inc. to its board of directors, as well as another chairman, after interim Chairman Glenn F. Tilton, 54, resigned Monday. Tilton accepted the chairman’s position at another troubled company, United Airlines (UAL), after spending almost all of his professional life in the oil and gas industry.

As some of the big name energy merchants continue to divest themselves of energy service operations, smaller companies such as Richmond, VA-based Compass Energy Services Inc. and Framingham, MA-based Ameresco Inc. are filling in the niche by offering end users all-encompassing custom solutions for their energy needs. The trend is evident across the nation as companies like Duke Energy and Dominion Resources move away from some of their energy service business to focus more on their core competencies.

UBS Warburg expects to begin operations this month of its newest unit, UBS Warburg Energy, after completing the deal to obtain Enron Corp.’s exclusive license to the technology to operate the once unbeatable North American natural gas and power trading operations. The new business’ online site will be branded www.UBSWenergy.com.

UBS Warburg expects to begin operations this month of its newest unit, UBS Warburg Energy, after completing the deal to obtain Enron Corp.’s exclusive license to the technology to operate the once unbeatable North American natural gas and power trading operations. The new business’ online site will be branded www.UBSWenergy.com.

Short-covering was once again the name of the game at Nymex Tuesday as local and commercial traders lifted natural gas futures prices off early session lows and propelled the January contract to its fourth-straight positive close. Traders agreed yesterday’s advance was set in motion by new forecasts that suggest the record-setting warm temperatures across much of the country will soon be coming to an end. By virtue of its 5.6-cent gain and $2.803 settlement, the prompt contract has rallied more than 30 cents off last Wednesday’s $2.491 close.

Volatility was once again the name of the game Monday in the natural gas pit at Nymex, as local traders found it easier to push prices around in a market noticeably void of its once-dominant market-maker, Enron. The exchange last Thursday forbid its floor members to accept an order placed by Enron or its affiliates without written authorization, and since that time the market has experienced volatility that one would not expect considering the lack of fundamental or technical impetus. Rebounding nearly 8 cents from a $2.555 low notched early in the session, the January contract finished at $2.63, down 6.7 cents for the day.