natural gas data

Physical natural gas for Tuesday delivery bounded higher nationally by an average of 21 cents Monday led by dollar-plus gains at some New England points. Even without those points the market soared by an average of 17 cents. Gains were deep and widespread.

Physical gas for weekend and Monday delivery on average was unchanged in Friday’s trading, and although most points showed gains of a nickel or more, forecasts of mild temperatures in New England and at eastern points prompted double-digit declines and offset what otherwise was broad market strength.

For the week ending Nov. 15 the NGI National Spot Gas Average posted a healthy 13 cent gain to average $3.58 with only one Rockies point and a handful of Northeast locations failing to make it to the positive side of the trading ledger. Of all the market points the Northeast was home to the week’s biggest winner and also the biggest loser.

Alliant Energy’s Iowa utility has accepted a proposed decision and order issued by the Iowa Utilities Board (IUB) for the 600 MW Marshalltown Generating Station (MGS). Assuming regulatory approval, the natural gas-fired plant would be built in central Iowa beginning next year with operations expected to begin in 2017. The IUB approved construction of the plant and included a cost cap of $920 million, and allowed Iowa Power and Light (IPL) to recover in rates the actual cost of the facility. The IUB approved pipeline construction to deliver natural gas to the facility. Construction of the combined-cycle plant is part of IPL’s long-term energy resources strategy, which was unveiled in August 2012. Alliant said earlier this month it is conducting a feasibility study of resource options to address future customer energy and capacity needs in Wisconsin; options include conversion of an existing gas-fired facility from simple-cycle to combined cycle or the construction of a new facility. Alliant’s Wisconsin Power and Light has said it may replace 270 MW of coal-fired electric generation with natural gas-fired units (see Daily GPI, April 24).

The House of Representatives is preparing to vote next week on two Republican bills that would prohibit federal regulation of oil and natural gas hydraulic fracturing (fracking) and streamline the process for obtaining a permit to drill on public lands.

Physical gas for Friday delivery fell hard and fell often as prices averaged a decline of 19 cents nationally in Thursday’s trading. No actively traded point registered gains and most points tumbled anywhere from a dime to 20 cents.

Carlyle Group plans to raise $7 billion for energy funds over the next two years, with more than half — $4 billion — targeting North America, executives said during an investor presentation in New York City.

The Texas arm of activist group Public Citizen on Tuesday called for a halt to the scheduled start of TransCanada Corp.’s Keystone XL oil pipeline’s southern segment from Oklahoma to the Texas Gulf of Mexico. It is slated to begin operations before the end of the year.

Wyoming’s Oil and Gas Conservation Commission (OGCC) on Tuesday established a baseline groundwater testing rule for oil and natural gas operators to following in their exploration and production (E&P) work.