Banc of America Securities (BOA) downgraded Dynegy Inc. to “sell” from “neutral” on Wednesday because of questions about the company’s future cash-flow generation. More than 10 million Dynegy shares exchanged hands, and the stock fell more than 5% to close at $4.98.
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Sempra: Energy Trading, LNG Work Well Together
Some analysts and company executives have questioned whether an energy trading operation is good for the balance sheets of prospective and current importers of liquefied natural gas (LNG) in North America, but San Diego-based Sempra Energy, a leading proponent of trading and a major LNG player, was unabashedly supportive of its trading unit Tuesday at the Merrill Lynch “Global Power & Gas Leaders Conference.”
Sempra: Energy Trading, LNG Work Well Together
Some analysts and company executives have questioned whether an energy trading operation is good for the balance sheets of prospective and current importers of liquefied natural gas (LNG) in North America, but San Diego-based Sempra Energy, a leading proponent of trading and a major LNG player, was unabashedly supportive of its trading unit Tuesday at the Merrill Lynch “Global Power & Gas Leaders Conference.”
Shell’s Reclassification Not Expected by Peers; Watts’ Future Questioned
Royal Dutch/Shell Group’s decision to reclassify its proven reserves by 20% continued to rattle energy investors and analysts on Monday, with many wondering whether other producers also will restate their reserves numbers in the near future. And in London, insiders say it’s only a question of weeks before Group Chairman Phil Watts is looking for another job.
EIA Long-Term Forecast Shows Tighter Domestic Gas Market
Although many have questioned the causes of the recent price spike beyond $7/MMBtu, the federal government’s long-term natural gas forecast released Tuesday makes it clear that the gas market has become, and will remain, tighter and more prone to higher prices than previously expected.
EIA Long-Term Forecast Shows Tighter Domestic Gas Market
Although many have questioned the causes of the recent price spike beyond $7/MMBtu, the federal government’s long-term natural gas forecast released Tuesday makes it clear that the gas market has become, and will remain, tighter and more prone to higher prices than previously expected.
NM Regulator Seeks A Third Term; Legality Questioned
Challenging the rules governing the elected, five-member New Mexico Public Regulation Commission, one of its charter commissioners is trying to get on the ballot for a third term. Currently the 1998 law forming the commission restricts commissioners to two four-year terms. The state attorney general’s office is conducting an investigation to see if a third term is in the cards for Jerome Block.
PJM Official Questions Hourly Bidding Approach in FERC’s SMD
An official with PJM Interconnection last Tuesday questioned whether FERC’s recently unveiled proposal for a standard market design (SMD) in U.S. wholesale electricity markets makes the right call in proposing to allow for hourly bidding on energy transactions without any types of restrictions.
New Arizona Power Plants’ Viability Questioned after Deregulation Delayed
Arizona Public Service (APS) will file a motion to reconsider a move to slow down deregulation, after the three-member Arizona Corporation Commission (ACC) on Tuesday voted unanimously to reverse a 1999 requirement that the state’s utilities divest their generating assets. The vote followed a ruling by the commission’s administrative law judge in July, who recommended that Arizona delay competition past July 2004 because the wholesale market was not ready (see Power Market Today, Aug. 28).
FGT’s Tampa Contract Questioned
Florida Gas Transmission went too far in special rate treatmentand terms — not offered to other customers — to get TampaElectric on board for its Phase V expansion, according to FloridaPower. FGT’s current customers would unlawfully be required to bearextra costs and operate under less favorable conditions, FloridaPower told the Federal Energy Regulatory Commission in its protestto FGT’s amendment to its expansion certificate (CP00-40-001).