Calling a natural gas supply shortage in the coming year “a veryreal possibility,” Dr. Bruce M. Bell, chairman of the Mid-ContinentOil & Gas Association of Oklahoma, said there is an “urgentneed” for increased drilling activity, particularly in Oklahoma.But to increase the drilling activity you need more people, andthat shortage is directly related to the natural gas shortage. Sortof like a Catch 22.
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People Shortage Could Fuel Natural Gas Shortage
Calling a natural gas shortage in the coming year “a very realpossibility,” Dr. Bruce M. Bell, chairman of the Mid-Continent Oil& Gas Association of Oklahoma said there is an “urgent need”for increased drilling activity, particularly in Oklahoma. But toincrease the drilling activity you need more people, and thatshortage is directly related to the natural gas shortage. Sort oflike a Catch 22.
APX Expands Power Market Services
California-based Automated Power Exchange (APX) announced lastweek that it has developed new Internet-based, real-timeelectricity market products that will allow it to provide combinedpower exchange and regional transmission operator (RTO) services inother states, regions and countries that open their electricitymarkets to competition. One feature of what APX is calling “Market2000” will allow end-users to trade power to buffer the negativeimpact of summer price spikes.
APX Expands Power Market Services
California-based Automated Power Exchange (APX) announced thisweek that it has developed new Internet-based, real-timeelectricity market products that will allow it to provide combinedpower exchange and regional transmission operator (RTO) services inother states, regions and countries that open their electricitymarkets to competition. One feature of what APX is calling “Market2000” will allow end-users to trade power to buffer the negativeimpact of summer price spikes.
Industry Briefs
Altra Energy Technologies Inc., Amerex Power Ltd. and PrebonEnergy Inc. announced the successful launch of Altrade Power, areal-time, online electronic power trading system, provided byAltra Streamline LLC. The launch represents the firstbusiness-to-business e-commerce site to unite new online tradingexchange technology with the strength and reach of the traditionalvoice broker market. Altrade Power went live on Oct. 14. More than210 installed users, out of 450 traders who have already requestedthe system, logged on to complete more than $24 million inwholesale power trades. “With the help of our alliance, traderswill ultimately have instant access to over 700 counterparties atmore than 150 of the industry’s leading trading firms,” saidAltra’s Mark Crosno. “Following the price spikes of 1998 and 1999,the wholesale power market is demanding enhanced tools for moreefficient deal execution. Traders told us they need a single focalpoint for getting their deals done, yet they do not want to give upthe services provided by their voice brokers. Through our alliance,we have answered the market’s demands,” said Amerex’s CareyTurnbull.
New Online Auction for CA Energy Consumers
AMDAX.com, an e-commerce company based in San Diego, CA,unveiled plans yesterday to host an Internet-based real-timeutility auction system, in an attempt to give California gas andelectric consumers another option to secure their energy needs. Thecompany said it was in the midst of finalizing numerous contractswith electric generators, gas and electric marketers and end users.Currently, the auction is set to start Nov.1.
Expansions Powering Up Power Trading Sites
Electric deregulation is moving faster in the virtual world thanthe real world. While power choice has yet to sweep the land, threeproviders of Internet-based power trading are expanding/upgradingtheir systems to meet demand and improve system flexibility.
Expansions Powering Up Power Trading Sites
Electric deregulation is moving faster in the virtual world thanthe real world. While power choice has yet to sweep the land, threeproviders of Internet-based power trading are expanding/upgradingtheir systems to meet demand and improve system flexibility.
AGA: Choice Cuts Gas Prices
While the real price of other goods and services in the U.S.increased by 34% since 1987, the price of natural gas to consumershas decreased by an average 14%, from 1987 to 1997, according to areport used by the American Gas Association to show FERC thatretail unbundling is working. The distributors’ group told afederal/state regulatory policy conference Thursday the price toconsumers went from an average $4.47/Mcf in 1987 to $3.85 in 1997(all in 1997 $). Of that delivered price the total transportationand distribution cost to consumers went from $2.23 to $1.53, a 31%decline, AGA said, citing surveys by the Energy InformationAdministration. During the same period the wellhead price wentfrom $2.24 (in 1997 $) to $2.32 in 1997.
House Bill Seeks Relief for Small Producers
Several House lawmakers have endorsed legislation that isdesigned to provide “some real relief” to small oil and natural gasproducers that have been “so hard hit” by the historically lowcrude oil prices.