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Rain, Courts Favor on California Power

With water tables rising and court rulings going the state’sway, California began the week Monday on a more upbeat note thanany time this year. A federal court ruling late Friday assuredemergency real-time supplies will be available to the statetransmission grid operator, Cal-ISO, at least through March 19,prompting the governor while on a political trip to Washington,D.C., to issue a reaction praising the federal judge for his “wiseand thoughtful decision.”

February 27, 2001

Futures ‘Sea’-Saw Amid Tropical Systems

Just as Tropical Storm Bret was being downgraded to a drenchingrain event for South Texas the natural gas futures market wasundergoing a downgrading of its own yesterday, as traders tookprofits in a mid-morning sell-off. However, by mid-afternoon theNational Hurricane Center had anointed the latest two tropicaldepressions-Dennis and Emily-into tropical storms and that wasenough to convince those sellers to become buyers. That was almostenough to recoup the earlier price decline, leaving the Septembercontract to finish the session with only a half-cent loss to$3.059.

August 25, 1999
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