Significant savings are increasingly hard to come by for large,multi-facility energy users even with the help of outside energyexperts, according to panelists last week discussing energymanagement outsourcing at NGI’s GasMart/Power ’99 in Dallas.
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Maritimes & Northeast Pipeline officials began constructionof the 203-mile mainline that will extend from outside theU.S.-Canada border near Baileyville, ME, to Westbrook, ME.Maritimes and its Canadian affiliate will transport gas from theSable Offshore Energy Project off the coast of Nova Scotia tomarkets in Atlantic Canada and the Northeast U.S. Constructionbegins with the clearing and grading of the right-of-way along thedesignated route followed thereafter by ditching and pipeinstallation. Earlier this year, Maritimes successfully completedthe horizontal directional drill crossings of the Androscoggin andSt. Croix Rivers.
Warm Weather Puts Bears Back at Helm
Above-normal temperatures, both outside traders’ windows and intheir weather forecasts, continued to weigh on the futures marketthroughout trading Monday. The February contract gapped lower atthe open as moderate selling prompted the market down 6.4 cents toits $1.714 close. Estimated volume was heavy, with more than 93,000contracts changing hands.
Futures Market Slips in Pre-AGA Trading
The futures market continued to move in a choppy,sideways-trading pattern Wednesday, as traders tried to influence amove outside Tuesday’s broad trading range. But the Decembercontract could only muster a 6-cent range yesterday, which producedan inside day on daily charts. Trade selling set in as Decemberreached its $2.435 high and pushed the prompt month down to itseventual $2.395 settlement price.
High Utility Demand Now, But Watch Out for Fall
Anyone who’s been outside just about anywhere in the countryknows summer came on early this year and came on strong. Electricutilities that usually don’t hit their demand peaks until July orAugust hit their high marks last month. And the heat likely won’tbe retreating in August.
Late Fallbacks Hint at Aftermarket Peaking
Prices in nearly all markets outside the Rockies moved a littlehigher Tuesday, but late retreats at many points indicated theaftermarket upticks fueled by producing-area heat may be subsiding.