power

After pushing above $2.40/MMBtu, natural gas futures steadied a bit Wednesday as traders looked ahead to the newest government storage data for further direction. The September Nymex gas futures contract settled at $2.426, up nine-tenths of a cent from Tuesday’s close. October nudged 0.007 cents higher to $2.563. Spot gas prices were mixed as the…

NRG Energy Inc. on Friday said it has a definitive agreement to acquire Direct Energy, a leading North American natural gas retailer and subsidiary of Centrica plc, in a $3.625 billion, all-cash transaction. Direct Energy operates in all 50 states and six Canadian provinces, supplying natural gas, electricity, and home and business energy-related products and…

Duke Energy Progress, a Duke Energy Corp. subsidiary, said its natural gas-fired Asheville Combined Cycle Station in Arden, NC, is online and producing 560 MW for customers across the Carolinas.  The $817 million natural gas station consists of two 280 MW power blocks, four generators and more than 18,000 components. The first power block became…

The number of natural gas-fired peaking plants in California has increased sharply, to 79 from 24, in the first 15 years of this century, though none have been opened in recent years as the state increasingly moves to phase out fossil fuels to facilitate decarbonization. That trend is a reflection of one of the key…

Though intense heat remains in the cards for the balance of summer, near-term forecasts shifted cooler over the weekend and had a dampening effect on natural gas futures Monday. The August Nymex contract lost 6.6 cents day/day and settled at $1.739/MMBtu. September fell 5.0 cents to $1.797.  NGI’s Spot Gas National Avg. advanced 1.0 cent…

The suspension in late June by Mexico’s Supreme Court of new power sector rules imposed by the energy ministry marked a rare victory for proponents of competition in the country’s energy industry, analysts said. The controversial rulemaking, dubbed the Policy of Reliability, Safety, Continuity and Quality in the National Electric System, halted preoperative tests for…

After finishing flat a day earlier, Natural gas futures mustered new momentum on Friday, ending the week in positive territory as mid-range forecasts for more heat outshined persistently weak demand for liquefied natural gas (LNG) amid fallout from the coronavirus pandemic.

Rains and relatively mild temperatures across much of the eastern half of the Lower 48, along with festering fallout from the coronavirus pandemic, curbed weekly spot gas prices for the June 15-19 period.

After pleading guilty to 84 counts of involuntary manslaughter and another count of starting a deadly fire in Paradise, CA in 2018, the sentencing of Pacific Gas and Electric Co. (PG&E) on Thursday was anticlimactic, with the court only imposing a fine of about $3.4 million. A restitution hearing is scheduled for early next year.