While Pennsylvania and New Jersey would like nothing more thanto give Williams’ proposed MarketLink expansion the boot, Floridais opening its arms to the company’s Buccaneer Natural Gas Pipelineproject.
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Mild Cash Rises Backed by Screen, Cold Front
Some sources seemed to think the cash market was manufacturingprice increases out of nothing Thursday. Others, however, said mildsupport from the futures trading pit combined with a cold frontmoving towards the East Coast to generate price firmness rangingfrom flat to up about a nickel. For a change there was nogeographic pattern in the market as the price gains tended to bescattered across all regions.
Screen Lifts Bidweek Slightly; November a Bit Down
Essentially nothing had changed in the fundamental demandpicture Tuesday, and late-November cash prices responded with verylittle change themselves. Minuscule softness dominated at mostpoints, and the few declines rarely exceeded a nickel. Sources indiverse regions continued to report unseasonably mild temperatures.
Shocking Amount of New Generation Planned
The rush to build new gas-fired generation has become nothingless than a frenzy, according to a new report which shows thatsince summer the tally on new generation projects has grown 61% to59,000 MW. That’s up from 49,463 MW reported in late-September, and36,600 MW in July, said Resource Data International’s (RDI) EnergyInsight (EI), an Internet-based analytical service that keeps aclose watch on the power generation market.
Prices Hit Plateau, But Weekend Weakness Seen
The cash market, seeing essentially nothing in the way ofdirectional influence, went into a holding pattern Thursday withfew points straying any further than 2-3 cents on either side offlat. A screen drop of just under a penny was deemedinconsequential, and even though some market areas were seeingnear-freezing temperatures Thursday, forecasts of warmer weatherfor the weekend through the middle of next week tempered any buyingenthusiasm.
Friday Doesn’t Yield Much at the Merc
It was pretty much a nothing day at the New York MercantileExchange on Friday, as the spot June contract could only move 2.2cents lower to settle the day at $2.178. Trading was limited to atight 4 cent range.