Federal energy regulators on Wednesday launched an inquiry into bulk power systems operations during the extreme weather conditions during Winter Storm Elliott. FERC, the North American Electric Reliability Corporation (NERC) and NERC’s regional entities said the joint inquiry would review the “severe cold weather” last weekend that “contributed to power outages affecting millions of electricity…
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GOM’s Oil and Natural Gas Recovery from Ida Mistakenly Overstated by Federal Officials
Natural gas and oil production taken offline in the Gulf of Mexico (GOM) by Ida is not coming back as quickly as first advertised, federal officials said Thursday. Following major storms in the GOM, the Bureau of Safety and Environmental Enforcement (BSEE) compiles daily reports from operators. On Thursday, it was clear that something had…
No Easy Answers as Texas Power Grid, Natural Gas Market Rocked by Unprecedented Cold Snap
Rotating power outages continued to impact Texas end-users on Tuesday as the Electric Reliability Council of Texas (ERCOT) scrambled to restore service amid a blast of arctic cold that sent the electric grid and natural gas markets into chaos. About 10,500 MW of customer load, equal to the demand of about 2 million homes, was…
Natural Gas Futures Called Higher as Severe Cold Brings ‘Chaos’ to U.S. Energy Markets
Amid reports of power outages and production freeze-offs resulting from an intense cold blast stretching down into the Gulf Coast over the holiday weekend, natural gas futures were sharply higher in early trading Tuesday. The March Nymex contract was trading at $3.095/MMBtu at around 8:50 a.m. ET, up 18.3 cents from Friday’s settlement. A result…