Canadian 88 Energy Corp. and Canadian Superior Energy Inc., involved in litigation over the past several months that played out loudly and often in the press, announced Friday that “all issues and all litigation between them” — including between former Canadian 88 CEO Greg Noval — have been “fully settled.” Noval is now CEO of Canadian Superior.
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California Comes Close to Rotating Blackouts Again
In a sequence that likely will be repeated often this summer, California’s independent transmission grid operator, Cal-ISO, Thursday erred on the side of getting out advance warning of possible rolling blackouts only to pull back the emergency measure within minutes of the targeted time for blackouts to begin. As of 4 p.m. (PDT), the blackouts had not become necessary in the second consecutive day of Stage One and Two alerts.
Dynegy: Enron a ‘Model Competitor’
It doesn’t happen very often, so we’re noting an apparentlyspontaneous comment from Dynegy Counsel Ed Ross at a FERCRoundtable last week that one of his chief competitors, Enron, “hasdone an excellent job of being competitive.” He suggested otherscould look to Enron as a “model competitor. They’ve done a verygood job of setting up a strong financial desk and a strongphysical desk and we don’t see any problem with it. I think theyhave set up their books in a way that they truly have separationbetween the regulated and unregulated aspects of their business.”
Dynegy: Enron a ‘Model Competitor’
It doesn’t happen very often, so we’re noting an apparentlyspontaneous comment from Dynegy Counsel Ed Ross at a FERCRoundtable last week that one of his chief competitors, Enron, “hasdone an excellent job of being competitive.” He suggested otherscould look to Enron as a “model competitor. They’ve done a verygood job of setting up a strong financial desk and a strongphysical desk and we don’t see any problem with it. I think theyhave set up their books in a way that they truly have separationbetween the regulated and unregulated aspects of their business.”
Dynegy: Enron a ‘Model Competitor’
It doesn’t happen very often, so we’re noting an apparentlyspontaneous comment from Dynegy Counsel Ed Ross at a FERCRoundtable last week that one of his chief competitors, Enron, “hasdone an excellent job of being competitive.” He suggested otherscould look to Enron as a “model competitor. They’ve done a verygood job of setting up a strong financial desk and a strongphysical desk and we don’t see any problem with it. I think theyhave set up their books in a way that they truly have separationbetween the regulated and unregulated aspects of their business.”
Despite Moderating Weather, Futures Continue Higher
It is often said that it takes markets longer to rise than itdoes for them to fall and that adage was never more true thanyesterday in the natural gas pit as prices finally recouped thelast of the massive $1.411 price erosion seen a week ago. Aftergapping higher on the open, the February contract shuffled mostlysideways Monday as traders awaited fresh medium-range weatherforecasts. At the closing bell, the prompt month was 42.8 centsstronger at $9.689.
Long Overdue Correction Has Bulls Shaken
It is often said that a market tends to fall twice as fast as itrises and yesterday’s price action in the natural gas pit was atextbook example of that. Erasing two weeks of bulls’ handiwork,the November contract burst onto the scene as spot month yesterdayand was promptly sent packing as trade and fund selling ushered itsharply lower throughout the day. A small bounce at the end of theday did little to deaden bulls’ pain. The November contract closedat $5.124, down 32.3 cents for the day.
Lax FERC Enforcement Allows Abuse to Persist
Market-power abuse in the electric industry often goes “unnoticed” by FERC because enforcement of the rules under Order 888, which are “frequently opaque,” is mostly left up to the transmission owners themselves, according to consulting firm Tabors Caramanis & Associates in Cambridge, MA.
Lax FERC Enforcement Allows Abuse to Persist
Market-power abuse in the electric industry often goes”unnoticed” by FERC because enforcement of the rules under Order888, which are “frequently opaque,” is mostly left up to thetransmission owners themselves, according to consulting firm TaborsCaramanis & Associates in Cambridge, MA.
ONG Lowers Rates, Withdraws Supreme Court Appeal
A long and often contentious processes came to a close last weekin Oklahoma with an Oklahoma Corporation Commission (OCC) orderapproving a comprehensive agreement between Oklahoma Natural Gasthe OCC staff and the Oklahoma Attorney General’s office.