Profit

Avista 4Q Earnings Better Than Expected

Avista Corp., rocked by early cold weather and increased loadsthat reduced profit within its utilities division, now expects toreport better-than-expected earnings for the fourth quarter, drivenby its non-regulated energy trading arm, Avista Energy.

December 21, 2000

Profit-Taking Pressures Futures Off Fresh Highs

For the fourth morning in a row, gas futures spiked higher onlyto come crashing down as long traders liquidated their positions inan effort to avoid margin calls on their positions. Includingyesterday’s margin hike, the exchange has raised margins on fivedifferent occasions in the past three weeks, resulting in anincrease for its customers from $5,670 (on Nov. 17) to $13,500.

December 8, 2000

Volatility Continues as Profit-Taking Rescinds Early Gains

In almost a carbon copy of Monday’s session, natural gas priceserupted higherTuesday morning only to spend much of the remainderof the session checking lower as traders took profits amidintra-day technical weakness and storage uncertainty. Ending athree-day, $1.25 dollar price rally, the January contract slipped4.9 cents to close at $7.384. Meanwhile, the 12-month strip tumbledconvincingly, down 13.6 cents to $5.555.

December 6, 2000

Sempra CEO Sees Trading, Generation Boom

While condemning the wholesale gas and power volatility thissummer and profit-hungry generator/marketers, San Diego-basedSempra Energy CEO Steve Baum painted a bright picture last Thursdayfor his company and utility consumers, noting that San Diego Gasand Electric customers are now paying on average less for theirelectricity than they did a year ago.

October 30, 2000

Sempra CEO Sees Trading, Generation Boom

While condemning the wholesale gas and power volatility thissummer and profit-hungry generator/marketers, San Diego-basedSempra Energy CEO Steve Baum painted a bright picture last Thursdayfor his company and utility consumers, noting that San Diego Gasand Electric Co. customers are now paying on average less for theirelectricity than they did a year ago.

October 30, 2000

Industry Briefs

FERC upheld its March decision on remand in which it disclaimedjurisdiction over a four-mile, six-inch line of KN WattenbergTransmission LLC that serves two industrial customers in FortMorgan, CO. The Commission asserted jurisdiction over the lateralin a November 1997 ruling, but the U.S. Court of Appeals for theTenth Circuit remanded the decision two years later. Last March,FERC vacated its controversial decision upon acknowledging that theline met the qualifications for a Hinshaw exemption and, therefore,was subject to regulation by the Colorado Public UtilitiesCommission.

October 16, 2000

Profit-Taking Deposits Futures Off All-Time Highs

Adding to gains achieved in the overnight Access tradingsession, natural gas futures were higher at the open Friday astraders kept close tabs on a tropical depression that as of presstime Friday posed a threat to production platforms in the Gulf ofMexico. However, after etching a new prompt month high for thethird day in a row Friday morning, the October contract was hitwith a long and steady sell-off throughout the afternoon as tradersheaded for the exits ahead of the weekend.

September 18, 2000

Capstone: A Turbine Maker with a Fat Wallet

Flush with cash from an IPO early in the summer, aCalifornia-based micro-turbine pioneer yet to record a profit, ishoping to keep up with increasing demand and move into the blackfinancially by the end of next year, spurred along at leastpartially by this summer’s electricity supply and price problems.

September 11, 2000

Independents Profiting, But Financiers Wary

Flush with profit from surging natural gas prices and a stockrise across the board this year of about 85%, North Americanindependents still appear to be in no rush to secure financing formore exploration and production activities. And unless you’ve gotequity or a strong balance sheet, lenders still may be wary beforejumping into any financing deals.

September 11, 2000

Late Profit Taking Stems Rally; Friday Too Tough to Call

Following on the heels of Wednesday’s 15.8-cent rally, naturalgas futures checked higher to notch another all-time prompt monthhigh, only to turn around and crumble during the last 10 minutesyesterday, as traders took profits at the closing bell. Thesell-off was most pronounced in the October contract, which etcheda daily low at $4.74 moments before settling at $4.782, down 1.9cents for the session. Estimated volume was extremely weak, withjust under 50,000 contracts changing hands.

September 1, 2000