It seems like a safe bet that early this week nobody could havepredicted big price increases anytime in the near future. Themarket’s bearish feeling at the time was palpable. But in somethingclose to a mirror image reversal of Tuesday’s big declines, tradersused an awesome display of might by futures to send cash priceshigher by a dime or more across the board Wednesday.
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Initial Futures ‘Head Fake’ Higher Fools Nobody
After an early attempt to take out prior highs was rebuffedyesterday, natural gas futures trickled down to easily establish anew low for the week at $2.19. Bears were egged on by a number offactors, which include a rapidly deteriorating technical pictureand expected weekend physical demand fall-off, sources agreed. TheJune contract finished at $2.218, down 3.6 cents for the day.
May 21, 1999
Marketers Register Complaints about Consumers’ Pilot
What if they had a customer choice pilot and nobody showed up?So far, about 18 marketers have expressed interest in ConsumersEnergy’s statewide Gas Customer Choice pilot in Michigan. However,only one has said it might solicit residential customers, accordingto Consumers, and at least one other, mc2, is balking at thepilot’s requirements. Consumers certainly doesn’t expect awash-out, but whether many customers actually get a choice isextremely doubtful. Beginning April 1, up to 100,000 Consumerscustomers are to be able to choose their supplier during the firstyear of the program. Customers and suppliers may enter the programat any time during the year. The pilot is to run three years,offering choice to 100,000 per year.
March 24, 1998
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