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FERC is being transformed by the 2005 federal Energy Policy Act (EPAct) to more of an enforcement agency rather than an accounting-focused government agency, according to Commissioner Marc Spitzer, who spoke Tuesday at the Western Power Supply Forum II in Burlingame, CA. This is a transition that began at the state regulatory commission level, from which Spitzer just emerged in Arizona to his role as a new federal regulator.

Siding more with the 2007 Farmers’ Almanac rather than forecasts released recently by National Oceanic and Atmospheric Administration (NOAA) and EarthSat Energy Weather, AccuWeather.com Long-Range Forecaster Joe Bastardi said last week that he expects the 2006-2007 winter to be colder than normal along the high-energy-demand East Coast and eastern Gulf Coast.

Siding with the 2007 Farmers’ Almanac rather than forecasts released recently by National Oceanic and Atmospheric Administration (NOAA) and EarthSat Energy Weather, AccuWeather.com Chief Long-Range Forecaster Joe Bastardi said Wednesday that he expects the 2006-2007 winter to be cooler than normal along the high-energy-demand East Coast and eastern Gulf Coast.

Power generation demand was rising only marginally as conditions remain rather mild across Canada and most of the northern half of the U.S. However, the cash market used prior-day screen support, expectations of a very low storage injection in the previous week (and quite possibly another unusual midsummer pull), and the quite strong cooling load being experienced throughout the southern U.S. to record sizeable gains across the board Wednesday.

The emerging next generation of Alberta oilsands projects has provided an early example of how new technology will make oilsands a contributor to natural gas supplies rather than just a drain. About 22 Bcf/year of gas will eventually be put back on the market as a result of an agreement between fertilizer manufacturer Agrium Inc. and the 100,000 bbl/d Northern Lights oilsands project.

The emerging next generation of Alberta oilsands projects has provide an early example of how new technology will make oilsands a contributor to natural gas supplies rather than just a drain. About 22 Bcf/year of gas will eventually be put back on the market as a result of an agreement between fertilizer manufacturer Agrium Inc. and the 100,000 bbl/d Northern Lights oilsands project.

The Alaska Senate rejected legislation to tax oil companies at 23.5% of net profits, a measure that the House had approved Tuesday. A conference committee has been appointed to attempt a compromise before the lawmakers adjourn their special session at midnight Thursday.

Feeling rather comfortable with the market’s recent $6.500 to $7.500 trading range, natural gas futures traders on Monday put in another uneventful session as support held once again. After trading within a slim 15 cent range between $6.560 and $6.710 on Monday, June natural gas ended up closing at $6.696, down 7.9 cents on the day.

TXU Energy, the largest retail electric provider (REP) in Texas, announced last week it will lay off about 20% of its workforce, or 65 employees, in an effort to trim costs. The news follows the resignation in late November by a top executive at Reliant Energy Inc., the state’s second largest REP.