After about a year delay, EnergyClear Corp. (ECC) finally is prepared to launch an over-the-counter energy clearinghouse in the second quarter. A separate operating company, which was formed in December 2000 by the Bank of New York, Prebon Yamane and Amerex, will support one of the first industry-sponsored OTC clearinghouses with comparison, netting and settlement of wholesale energy contracts. Initial products will include various electricity and natural gas forward contracts (see Daily GPI, Dec. 4, 2000).
Articles from Prepared
The Interstate Natural Gas Association of America (INGAA) believes the federal government should be prepared to commit military troops and equipment to protect the nation’s critical natural gas pipeline facilities. In a letter responding to a request for security suggestions from Senate Energy Committee Chairman Jeff Bingaman, INGAA President Jerald Halvorsen urged greater restrictions on sensitive pipeline location information, better cooperation between government and industry on pipeline monitoring issues, and that oversight during this time of heightened security be placed under one federal umbrella agency, the new Office of Homeland Security set up by President Bush.
Market power “is unlikely to be the dominant factor and may not even be significant” in the run-up of power prices in the California market, according to a study prepared by Harvard Professor William Hogan and Scott Harvey of LECG LLC, an economic and management consulting company based in Cambridge, MA.
Market power “is unlikely to be the dominant factor and may not even be significant” in the run-up of power prices in the California market, according to a study prepared by Harvard Professor William Hogan and Scott Harvey, with LECG, LLC, an economic and management consulting company based in Cambridge, MA.
As the Federal Energy Regulatory Commission prepared to weigh inthis morning with the federal government’s answer to California’sbe-deviled power market, free market advocates issued last minutewarnings against taking the price cap route espoused by theCal-ISO. FERC’s meeting is scheduled to start at 9 AM EST. (Checkhttp://intelligencepress.com this morning for updates)
The natural gas industry should be prepared to face customer uproar and attempts to impose price caps, similar to those seen this summer in San Diego, if the upcoming winter is cold enough and prices continue to hit new highs. That was the warning sounded by government and industry representatives at the crisis “summit” sponsored by the Interstate Oil and Gas Compact Commission (IOGCC) last week in Columbus, OH.
The natural gas industry should be prepared to face customerrevolts and attempts at price caps, similar to those witnessed thissummer in San Diego if it’s a cold winter and prices continue tohit new highs. That was the warning from government and industryrepresentatives at the crisis conference held by the Interstate Oil& Gas Compact Commission (IOGCC) yesterday.
Charlotte, NC-based Cogentrix Energy is prepared to commenceconstruction on a 816 MW natural gas-fired electric generationplant near Sterlington, LA. The company announced yesterday that ithad secured financing through Bank of America, N.A.
The U.S. Environmental Protection Agency has found some missingelements in the draft environmental impact statement (DEIS)prepared by the Federal Energy Regulatory Commission on theAlliance Pipeline project which is in competition with Voyaguer tocarry western Canadian supplies to the Chicago area.