Following more than a nine-hour delay to the start of the FERC meeting last Wednesday, a very divided Commission voted out a controversial market monitoring and mitigation plan in an attempt to bring some measure of sanity to wholesale power prices in the out-of-control California energy market over the next year.
Nine
Articles from Nine
Divided FERC OKs Price Mitigation for Spot Deals in CA
Following more than a nine-hour delay to the start of FERC meeting yesterday, a very divided Commission voted out a controversial market monitoring and mitigation plan that will attempt to tame wholesale power prices in the ailing California energy market over the next year.
Millennium Tells FERC It’s 81% Subscribed
Millennium Pipeline Co. L.P. informed FERC last week that it has subscribed 81.5% of its Canada-to-New York pipeline project.
Washington State Sounds Off on Power Prices
Governors of nine western states announced last week an emergency energy conservation strategy to avert a California-type energy crisis and to mitigate future higher energy prices.
Access Trading Gives Bulls Free Reign
Forget the old nine-to-five, all the action now takes placeafter hours. While that sounds like a seedy radio ad for a happyhour hot spot or club, it is also an apt description of the naturalgas futures market as of late. Wednesday was a perfect example ofthis as prices climbed higher overnight Tuesday and notched a newhigh at $8.80 on the opening of the regular trading sessionWednesday, only to tumble lower for much of the remaining regulartrading session. However, bulls were on the offensive again lastnight as they bid up prices in overnight Access trading once again.As of press time at 7:30 PM (ET), the January contract was at$9.07, 58.5 cents higher than Wednesday’s $8.485 settlement price.
Transportation Notes
Sonat notified shippers Saturday that nine groups on its SouthGeorgia system would be under an OFO Type 22 effective Monday untilfurther notice. Cold weather and projected demand on the systemwere cited as reasons for the OFO.
Energy Traders Join To Develop B2B Standards
Nine energy traders have teamed up to form the Energy TradingStandards Group, an open consortium that plans to work towarddeveloping standards to automate the sale of wholesale energy andto improve information sharing among traders.
Energy Traders Join To Develop B2B Standards
Nine energy traders have teamed up to form the Energy TradingStandards Group, an open consortium that plans to work towarddeveloping standards to automate the sale of wholesale energy andto improve information sharing among traders.
People
Robert Ray took on a new position with Dynegy Inc. yesterday.The nine-year company veteran was named vice president of StrategicInvestments, a job which entails strategic planning, valuation ofcorporate mergers and acquisitions, as well as the company’sinvestment in other business opportunities. Ray has held a numberof positions within Dynegy, most recently the title of vicepresident of Corporate Finance.
Hurricane Hype on Hold, Monday is True to Form
Breaking its string of days with advances at nine, the naturalgas futures market sifted lower yesterday as traders learned that atropical storm they had been watching on Friday would likely not bea threat to gas production in the Gulf of Mexico. The prompt monthtook the news on the chin, tumbling 15.7 cents to finish at $4.318.Estimated volume confirmed the move, with 37,472 contracts changinghands.