Offer

An independent, not-for profit “central transaction database” that would provide “sanitized” prices for energy trades on a real-time basis would go a long way to restore the credibility of the natural gas and electricity industries, according to the Global Energy Market Institute of the University of Houston’s Bauer College of Business (GEMI-Bauer-UH).

Southwest Gas Corp.’s management said it has teamed with Pima County, AZ Attorney’s 88-CRIME program to offer a reward of up to $100,000.00 for information that leads to the arrest and indictment of the individual or individuals responsible for the sabotage of Southwest Gas’ natural gas distribution system.

As a hedge against wholesale energy market price and supply volatility, California should use its extensive underground storage system to establish a “strategic gas storage reserve” to assure reasonably priced and reliable electric generation in the state, an energy consumer advocate told a special meeting of the state’s major energy policymakers Tuesday.

The Commodity Futures Trading Commission (CFTC) has approved plans by the New York Mercantile Exchange Inc. (Nymex) to offer three financially settled PJM electricity futures contracts, Nymex reported last Tuesday. The contracts are expected to be available in the first part of 2003.

Debt-laden and cash-poor energy merchants with few prized assets left to sell should consider selling stock — if they have access to the capital markets. The equity sales would only have a “neutral to mildly negative” effect for many companies, according to a new study.

Debt-laden and cash-poor energy merchants with few prized assets left to sell should consider selling stock — if they have access to the capital markets. The equity sales would only have a “neutral to mildly negative” effect for many companies, according to a new study.

The power industry may be suffering now from a liquidity crunch, but it’s not the first time for the sector, and history may offer some “important” lessons, according to a Standard & Poor’s credit analyst.

FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator (Cal-ISO) to speed up creation of day-ahead and ancillary services markets to Jan. 1, 2003, reform its governing board and get ready for the FERC personnel who will be installed in the Cal-ISO operations center.

FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator to speed up creation of a day-ahead and ancillary services markets to Jan. 1, 2003, and that FERC personnel would be installed in the Cal-ISO operations center.