After tumbling lower for the third Monday in a row, natural gasfutures rebounded yesterday, as buyers were once again willing tosupport the market near the $5.70 level. The March contractreceived the biggest boost, shuffling 19.8 cents higher to finishat $6.019. Most of the gain was notched late in the session, as ashort-covering rally propelled prices by more than a dime higherafter 2:30 p.m. (ET).
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Articles from Once
CA Regulators Grant Electric Rate Hikes, But Crisis Deepens
Amid the financial calamity facing California’sonce-invincible-looking two major utilities, California regulatorsThursday unanimously approved a temporary 1 cent/kwh rate hike, butthe growing challenge facing the state’s political leaders is thata grassroots push for government-run energy operations isdefinitely picking up steam.
January 5, 2001
A Few Northeast Citygates Again Defy Softer Trend
For the most part, a bearish trend in the fading December swingmarket once again held sway Thursday. With the continuing exceptionof rises at some Northeast citygates, most points registered pricedrops between about a dime and 50 cents. California, Sumas andTransco Zone 6 (non-NYC) led the way with triple-digit declines.
December 29, 2000
Transportation Notes
Florida Gas Transmission once again extended an OFO but loosenedthe tolerance for negative daily imbalances to 15% Thursday afterhaving tightened it to 5% Wednesday (see Daily GPI, Dec. 7).
December 8, 2000
Investigators Probing Avista’s Trading Practices
Legal troubles for the once high-flying Avista Corp. continue toadd up, as federal investigators have begun looking into possibleenergy futures trading rule violations that may have occurred twoyears ago at a Houston subsidiary.
November 16, 2000
Overall Price Rises Slow, But California Zooms Past $8
As Mark Twain once observed, everybody likes to talk about theweather, and that was especially true in the gas trading communityTuesday. With the official calendar start of winter still more thana month away, it seemed like winter has already begun in almostevery region. The predictable effect was to keep both cash andfutures prices pushing higher, with the screen scaling previouslyunknown heights.
November 15, 2000
Transportation Notes
El Paso continued its unauthorized overpull penalty situationyesterday in the San Juan Basin (see Daily GPI, Nov. 9).
November 10, 2000
West Again Mostly Higher in Face of Overall Softening
Once again several western points defied the overall downwardtrend of the cash market Tuesday. Most eastern quotes ranged 2-3cents to either side of down a nickel, but Rockies/San Juan andNorthern California increases went as high as a dime-plus.
October 18, 2000
Despite Cool Forecasts, Bears Have Their Way at Nymex
Volatility was once again the name of the game yesterday in thenatural gas pit at Nymex as prices tumbled lower after bulls failedto do much of anything with yesterday’s stronger opening trade. TheNovember contract was dealt the most severe blow, slipping 13.8cents to close at $5.152. The winter strip did not fare muchbetter, dropping a cool 12.5 cents to finish at 5.076.
October 6, 2000
CA Utilities, Regulators Spar Over Revenue Under-Collection Issue
Consumers and utilities continued to butt heads in Californialast week over how to deal with almost $5 billion in uncollectedrevenues by the state’s three major investor-owned utilities in thewake of this summer’s wholesale electricity price spikes. Withretail rates frozen the utilities have only collected a portion ofthe added cost of power since May. Consumer activists in SanFrancisco and San Diego last Tuesday launched a campaign againstthe utilities seeking pledges from political candidates throughoutthe state to promise to oppose the utilities’ attempts to raiseconsumer rates to recover their costs.
October 2, 2000
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