Last week’s overall price rally from Tuesday onward came to an end Friday as heat levels in the southern U.S. were expected to start retreating in some areas Saturday. The market also felt downward pressure from Thursday’s futures drop of 12.2 cents and the decline of industrial load that accompanies a weekend flow period.
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Some Moderation in Gas Prices Expected in ’06, Calpine Exec Says
Noting his company’s “significantly long” natural gas position from 2010 onward, a Calpine senior executive said Thursday the company has seen some moderation of natural gas prices since the Gulf of Mexico hurricanes, and it is possible prices will go down some more over the full course of next year. The value of the company’s portfolio has increased by an estimated $300 million over the past three months, said Paul Posoli, Calpine executive vice president, during a third-quarter earnings conference call.
November 4, 2005
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