Attempting to reach energy consumers on both coasts, SouthernCalifornia Gas Co. said Thursday it hopes to offer its Internetmarketplace to customers in New York, Massachusetts, Illinois,Pennsylvania, and Georgia in the very near future. The expansionwas announced as part of the formal launching of power trading onthe company’s energy market web site, www.energymarketplace.com.
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Ohio Customer Choice Programs Reach New Heights
The Ohio Public Utility Commission reported that 280,000 retailconsumers are buying gas from alternative suppliers, a 25% increasesince September. The percentage of eligible customers participatingin the three utility customer choice programs has risen to 21%(34,644 residential and small commercial customers) on East OhioGas, 8% (30,979) on Cincinnati Gas & Electric and 17% (216,900)on Columbia Gas. In total, 24,127 commercial customers and 258,396residential customers are participating.
Collaborative Process Has Pluses, Minuses for Gas Pipelines
Attorneys and executives that have used the collaborativeprocess to reach agreement on thorny issues prior to filinghydropower relicensing applications touted the benefits of theprocedures for the natural gas pipeline industry, but they stressedthat the time involved and even the costs in some cases can beoverwhelming.
California Utilities Open Bills for Ads
Retail energy service providers and marketers now have an addedpotential way to reach into California’s mass market residentialand small business customers by buying part of the utility billingenvelope space. Under new state regulatory rules, investor-ownedenergy utilities (IOUs) are opening access to their ubiquitousbills that are mailed regularly to millions of customers.
Destin Stretching System to Reach Production
The yet-to-be-completed Destin Pipeline is growing with plansfor two extensions to its system in the eastern Gulf of Mexicoproduction area. Destin Pipeline Co. announced two contiguousextensions, with a total estimated cost of $52 million, will servetwo development projects that recently dedicated production tothe1 Bcf/d Destin.
June Futures Reach Bottom of Trading Range
The June Nymex contract lost another 4.4 cents to $2.134 Monday,as traders continued to test just how long the spot month can holdabove major technical support at $2.11. June reached a low of$2.125 yesterday before last minute buying pushed the contract toits higher settle.
April Futures Reach Key $2.30 Level
The April Nymex contract gained another 6.1 cents to $2.300 onThursday, as the contract continued to move higher following thebreakout from its recent technical trading range. Despite thestrong rally and heavy estimated volume of 72,113 contracts, theupsurge stopped just short of breaking through its next resistancelevel at $2.305.
April Futures Reach Resistance, Then Fall Back
The April Nymex contract gained 3.7 cents to settle Friday at$2.321, thanks to what one broker called strong fund buying.However, April may be hard pressed to add much more to that.According to the latest Commitments of Traders report,non-commercials extended their net long position by 7,649 contractsto 9,543 during the last two weeks. The broker estimates that 60%of those positions are in April, which would mean these speculatorswould have to wind out of approximately 5,700 April contractswithin the next four weeks. However, if April breaks out of itsrecent technical trading range within the next several days, it islikely funds will add to their overall long position, meaning moreselling pressure would mount on April and May as we approach theApril expiration, a source argued.