Dynegy Inc. told FERC this week it’s becoming alarmed at thegrowing number of varying Y2K contingency plans being filed bypipelines. The Commission should agree to allow one set ofprocedures for the entire industry, Dynegy suggested. Otherwisethere could be a state of panic on New Year’s eve when shippershave to deal with multiple sets of Y2K emergency nominationprocedures.
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Articles from Number
Initial Aftermarket Softening Is Greater in the East
It shouldn’t have shocked anyone when the October aftermarketstarted out weak; after all, a number of sources had beenpredicting such a situation to NGI all week. The softening fromindex levels in swing deals done Thursday for today-only flow wasdivided somewhat on a geographic basis: declines of 15-20 cents ormore in the East were considerably greater than those in the West,which generally were less than a dime. California points evenmanaged about flat showings.
KCBT Entertains a Change to Basis
With the total number of open positions on its Waha futurescontract languishing under 400, the Kansas City Board of Trade hastaken measures that could signal the end of that contract as itcurrently exists. The exchange is in discussions withPG&E-Texas, the owner of the Waha hub, over potentialramifications of a switch to a basis contract tied to Nymex’s HenryHub futures contract.
KCBT Entertains a Change to Basis
With the total number of open positions on its Waha futurescontract hovering under 400, the Kansas City Board of Trade hastaken measures that could signal the end of that contract as itcurrently exists. The exchange said it is in discussions withPG&E-Texas, the owner of the Waha hub, over potentialramifications of a switch to a basis contract tied to NYMEX’s HenryHub futures contract.
NiSource Play for Columbia Elicits 3rd-Party Interest
Against the backdrop of NiSource Inc.’s hostile takeover bid forColumbia Energy Group, a number of U.S. and foreign electriccompanies were emerging last week as potential third-party suitorsfor the diversified energy concern.
Pioneer Cashes In on Divestment Strategy
Pioneer Natural Resources announced the closing of a number ofasset and property sales yesterday totaling $286 million. TheIrving, TX-based exploration and production company said $256million of the total will be used to reduce outstanding bank debt.
OCC, ONEOK Come To Terms on Rates
Oklahoma Corporation Commission (OCC) staff, ONEOK Inc. and itssubsidiaries Oklahoma Natural Gas (ONG) and Kansas Gas Service(KGS) reached negotiated settlement of a number of interim issueson rates, unbundling of assets and competitive bidding for gasservices. The stipulated agreement must still be approved by OCCcommissioners. Once that happens, it will hasten wholesale and thenretail unbundling in the state.
OCC, ONEOK Come to Terms on Rates
Oklahoma Corporation Commission (OCC) staff, ONEOK Inc. and itssubsidiaries Oklahoma Natural Gas (ONG) and Kansas Gas Service(KGS) reached negotiated settlement of a number of interim issueson rates, unbundling of assets and competitive bidding for gasservices. The stipulated agreement must still be approved by OCCcommissioners. Once that happens, it will hasten wholesale and thenretail unbundling in the state.
Georgia PSC Taking More Aggressive Approach to Competition
Concerned that a threshold number of Atlanta Gas Light (AGL)customers in certain warmer regions of Georgia may not switch toalternative suppliers by the next winter heating season, theGeorgia Public Service Commission is taking action to changeGeorgia’s gas competition law, SB 216, to get AGL out of themerchant function possibly by next fall.
Softer Tinge Creeps into Continuing Flatness
The overall tone of the cash market remained flat Thursday, buta growing number of points were recording tiny decreases. Thetouches of softness came even as an eastbound cold front reachedthe nation’s midsection, reminding regions that had beenexperiencing record seasonal warmth recently that winter isn’tquite over yet. One source speculated that prices may be finallystarting to crack under the strain of having maintained theirpositions during a long period of no fundamentals support. Even thearrival of some for-real weather fundamentals may not be enough toprovide support, he said.