Realized

Richmond, VA-based Dominion announced strong third quarter earnings bolstered by higher returns in its pipeline and E&P units, and saying it was on track to continue the trend into the fourth quarter and come close to its stated earnings guidance of $4.90 to $4.95.

Spurred primarily by a fresh surge in futures, the cash market realized large increases again Monday, although most of them were smaller than those on Friday. Gains ranged from about a nickel at a couple of Rockies points to more than 40 cents at the Florida citygate; a majority were between a dime and a quarter.

Traders had realized that a belated stretch of severe winter weather throughout much of North America was the only thing keeping spot prices firm since the end of January, so it was purely a matter of “when” a market retrenchment would begin. The “when” turned out to be Wednesday, as across the board declines were topped by plunges ranging up to slightly more than 70 cents (Algonquin citygate) in the previously high-flying Northeast.

Carolina Power and Light Energy (CP&L) realized its goallast week of becoming one of the 10 largest energy companies in thenation as its acquisition of Florida Progress Corp. (FPC) receivedthe final regulatory approval it needed from the Securities andExchange Commission.

Carolina Power and Light Energy (CP&L) realized its goalMonday of becoming one of the 10 largest energy companies in thenation as its acquisition of Florida Progress Corp. (FPC) receivedthe final approval necessary from the Securities and ExchangeCommission.

Dominion Resources expects gas price strength to continuethrough next year, but it is making a conservative forecast forrealized prices of about $3.20/Mcf, CEO Thos. E. Capps saidyesterday during a conference call on the company’s third quarterearnings. The company’s production remains about 50% hedged throughthe second quarter of next year.

The benefits of deregulating the electric power industry may be”deferred” — or may not be realized at all — if monopolyutilities are left unchecked to exercise market power in arestructured marketplace, according to an FTC staff report.

It’s about time everyone realized Coral Energy is a Shellaffiliate. The company initiated a corporate identity and brandingprogram yesterday supported by direct mail, Web-basedcommunications and advertisements in the Wall Street Journal, theHouston Chronicle and some trade magazines. It also has adopted anew logo design to signify its expanded commercial business andtransition from a joint venture company to a 100% affiliate ofShell’s global natural gas and power business. The logo nowincludes the Shell logo and says Coral is an affiliate of Shell.

Many market prognosticators have realized recently that theirgas price projections are quite a bit too low for the rest of theyear because of declining gas wellhead deliverability, a reducedstorage surplus relative to last year and ever increasing gasdemand. The Energy Information Administration joined that crowdlast week, raising its wellhead price forecast for the fourthquarter 25 cents to $2.41/Mcf.