Potential

A source’s prediction the day before of a potential price “bloodbath” in trading for the long Thanksgiving Day weekend (see Daily GPI, Nov. 21) came true in spades Wednesday. The market’s hemorrhaging was severe, as plunges of around 70 cents or more were common in all regions despite a mostly flat screen, and the OFO-devastated Southern California border dropped about a dollar.

With little fanfare and against a prevailing perception that private sector energy firms are looking warily at the West, Michigan-based CMS Energy last Wednesday announced it is opening a San Francisco office for its marketing, services and trading businesses, with a new director of western marketing operations, Laird Dyer, who was formerly with Enron and Pacific Gas Transmission in San Francisco.

With little fanfare and against a prevailing perception that private sector energy firms are looking warily at the West, Michigan-based CMS Energy last Wednesday announced it is opening a San Francisco office for its marketing, services and trading businesses, with a new director of western marketing operations, Laird Dyer, who was formerly with Enron and Pacific Gas Transmission in San Francisco.

Amid concerns over potential terrorist attacks on energy facilities, the Federal Energy Regulatory Commission is limiting the public’s access to maps of natural gas pipelines and electric transmission lines.

Amid concerns over potential terrorist attacks on energy facilities, the Federal Energy Regulatory Commission is limiting the public’s access to maps of natural gas pipelines and electric transmission lines.

Mounting bearish fundamentals, including plummeting crude oil prices due to concerns about a potential recession, helped pull October natural gas futures down to a new all-time low for the October contract and to the lowest near-month price since November 1999. October ended the regular trading session down 12.3 cents to $2.102 with a low of $2.080 and a high of $2.190.

Announcing that it wanted to enhance its utility operations “while maximizing the potential of its diversified businesses,” Peoples Energy Corp. said last Thursday it would reorganize its personnel management, as well as consolidate its support services into a new business services unit. Among the many changes, Tom Patrick, president and COO and a company director, added the title of vice chairman of the operating subsidiaries.

Announcing that it wanted to enhance its utility operations “while maximizing the potential of its diversified businesses,” Peoples Energy Corp. said Thursday it would reorganize its personnel management, as well as consolidate its support services into a new business services unit. Among the many changes, Tom Patrick, president and COO and a company director, added the title of vice chairman of the operating subsidiaries.

Pointing out the potential for market power abuses during this summer’s peak demand periods, the New York Independent System Operator (NYISO) has asked FERC to give it a quick go-ahead to penalize for repeated abuses of market power in the Empire State.