Sonat is implementing an OFO Type 6 Tuesday. Tiered penalties ranging from $1/Dth to $15/Dth will apply to net short imbalances on its contiguous system exceeding a tolerance of 2% or 200 dekatherms, whichever is less. In addition, Sonat notified shippers in several system groups Sunday that it would be allocating/limiting interruptible capacity starting either Monday or Tuesday, depending on the group. See the bulletin board for details.
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Transportation Notes
Sonat is implementing an OFO Type 6 Tuesday. Tiered penalties ranging from $1/Dth to $15/Dth will apply to net short imbalances on its contiguous system exceeding a tolerance of 2% or 200 dekatherms, whichever is less. In addition, Sonat notified shippers in several system groups Sunday that it would be allocating/limiting interruptible capacity starting either Monday or Tuesday, depending on the group. See the bulletin board for details.
Skilling Attorneys Request Disclosure of Alleged Co-Conspirators
Lawyers for former Enron Corp. CEO Jeffrey Skilling, who has been charged in a wide-ranging conspiracy case stemming from Enron’s collapse in Dec. 2001, have asked a Houston federal judge to disclose the names of 114 people alleged to be co-conspirators.
Skilling Attorneys Request Disclosure of Alleged Co-Conspirators
Lawyers for former Enron Corp. CEO Jeffrey Skilling, who has been charged in a wide-ranging conspiracy case stemming from Enron’s collapse in Dec. 2001, have asked a Houston federal judge to disclose the names of 114 people alleged to be co-conspirators.
Monday Rallies Continue, But Size of Gains Recedes
In a now-familiar pattern, prices rebounded at nearly all points Monday by amounts ranging from about a nickel to half a dollar or so. Although cold weather forecasts weren’t able to keep quotes from falling Friday, enough moderate heating load is lingering early this week that along with the return of industrial demand from its usual weekend slump, sellers found no shortage of ready buyers.
CA State Court Upholds CPUC Right to Probe Utility Holding Companies
In an initial ruling that has potential wide-ranging impact on San Francisco-based Pacific Gas and Electric Co. and the state’s other major private-sector utilities, a California district appeals court Friday upheld the right of the California Public Utilities Commission to probe into the transfer of funds back and forth between utility holding companies and their utility subsidiaries.
Bigger Downturn Expected to Follow Price Declines
Thursday’s prices were pretty soft with across the board declines ranging from a nickel to about 35 cents. But traders had no doubt that much bigger bears would rear up in the cash market Friday.
With Storm Threats Gone, Cash Sees Sizable Downturn
Most points registered double-digit losses ranging from a little more than a dime to about a quarter Monday. The exceptions of declines less than a dime tended to cluster in the Rockies and California, while significantly larger plunges of more than 30 cents and 80 cents were recorded at the Florida citygate and San Juan Basin respectively.
Most Points See Small Gains While Northeast Dives
Most of the market was moderately firmer Thursday, ranging flat to about 15 cents higher. A majority of gains were small at a nickel or less. But the Northeast apparently was anticipating a cool front moving into its northern half Friday, because area citygates dropped by sizeable amounts, topped out by a dollar-plus plunge at Transco Zone 6-New York City, which put on a volatility show during the day between $3.50 and $9.00.
Softer Market Finally Acknowledges Lack of Support
Prices fell by amounts ranging from about a nickel to 20 cents in Friday’s trading. Most eastern declines were a dime or less, while drops in the teens tended to be concentrated in the West. The softening brought numbers at many eastern points back to the vicinity of first-of-month indexes; western prices, which never got back near indexes during last week’s moderate firmness Tuesday through Thursday, just fell further behind.