Probe

Cautiously, Bulls Probe Higher on Supportive Forecasts

In a trading session reminiscent of days long gone, natural gasfutures were somewhat subdued Friday as traders held prices withina tight 16-cent trading range. Armed with fresh weather forecastsas well as a constructive technical outlook, traders added to theirlength, not only in the prompt month, but also in the summercontracts. Being the last month left on the winter of 2001 strip,March continued to play the role as the sacrificial lamb as it waslimited to a modest 5.2-cent advance. Comparatively, theApril-October summer strip showed a little more life, rumbling 7.1cents higher to close at $5.725.

February 12, 2001

Illinois Begins Gas Market Probe

As soaring December bills for natural gas use hit the home frontin Illinois last week, city and state officials opened a broadinvestigation into the causes of skyrocketing prices and madeattempts to increase assistance to low-income households.

January 15, 2001

Marketer Calls for Probe of Northwest’s OFOs

Although several shippers empathized with the plight of thenorthern Nevada industrial gas users, they said they couldn’tsupport their request to be excused from the continual must-flowoperational flow orders (OFOs) that Northwest Pipeline has beenissuing since mid-November.

January 2, 2001

CA’s Davis Calls for Gas Price Probe; Lawsuits Filed

Mirroring similar action he took last summer in the face ofskyrocketing wholesale power prices, California Gov. Gray Davis onFriday asked his state attorney general to investigate the recentsevere spike in wholesale natural gas prices at the Californiaborder, where prices are among the highest in the nation. In aseparate action, two class action lawsuits were filed Monday inCalifornia Superior Court, alleging that gas and electricity pricespikes are the result of a four-year-old “conspiracy” by SouthernCalifornia Gas, San Diego Gas and Electric and El Paso Natural Gas.(see separate story)

December 19, 2000

Probe of New England ICAP Market Supported

New England regulators and market participants said they supportan investigation by FERC into the operation of the installedcapacity (ICAP) market in the New England Power Pool (NEPOOL)during this past April-July period.

September 26, 2000

Probe of New England ICAP Market Sought

A small Massachusetts power marketer last week called on FERC toorder the suspension of all installed capacity (ICAP) chargesbilled to participants in the New England Power Pool (NEPOOL)during the April-July period until the Commission and Department ofJustice (DOJ) have completed separate investigations into gamingcharges in the market.

September 18, 2000

Probe of New England ICAP Market Sought

A small Massachusetts power marketer has called on FERC to orderthe suspension of all installed capacity (ICAP) charges forparticipants in the New England Power Pool (NEPOOL) duringApril-July until the Commission and Department of Justice (DOJ)have completed separate investigations into gaming charges in themarket.

September 13, 2000

CA Seeks Clinton’s Aid in FERC Electric Probe

Political repercussions from California’s high-priced heat wavereached all the way to the White House last week as Gov. Gray Davisappealed to President Clinton to pressure the Federal EnergyRegulatory Commission to “accelerate its investigation of wholesaleenergy prices in California.”

August 14, 2000

FERC to Probe Power Price Volatility, Reliability

While many might say it’s long overdue, FERC last weekauthorized its staff to undertake a “fact-finding investigation”into the wild price volatility and reliability problems that havegripped the bulk power markets over the past couple of summers.

July 31, 2000

FERC to Probe Electric Pricing, Reliability

While some might say it’s long overdue, FERC yesterdayauthorized its staff to undertake a “fact-finding investigation”into conditions in the bulk power markets to determine the reasonsfor the wild price volatility and reliability problems that havegripped the market during the past couple of summers.

July 27, 2000