Recover

FERC has approved Rockies Express Pipeline LLC’s (REX) request to raise its transportation rates on the REX-East leg of the system to recover more than $1 billion in additional material, labor and engineering costs.

FERC has approved Rockies Express Pipeline LLC’s (REX) request to raise its transportation rates on the REX-East leg of the system to recover more than $1 billion in additional material, labor and engineering costs.

A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, which bodes well for a more bullish 2010, energy analysts said last week.

A recovery for natural gas prices in 2009 is unlikely, but as the rig count declines, it should set up supply to drop substantially at the same time the economy begins to recover, setting up a much more bullish 2010, Raymond James & Associates Inc. said Monday. The energy team predicted that gas prices could average $8/Mcf by 2010, well above its $5 forecast for this year.

The Ohio Office of Consumers’ Counsel (OCC) lost its battle to reverse a Public Utilities Commission of Ohio (PUCO) decision allowing Duke Energy Ohio (DEO) to recover a greater share of its delivery costs through fixed charges and rely less on volumetric charges. The OCC is continuing to fight a similar move by Vectren Energy Delivery of Ohio

The Ohio Office of Consumers’ Counsel (OCC) lost its battle to reverse a Public Utilities Commission of Ohio (PUCO) decision allowing Duke Energy Ohio (DEO) to recover a greater share of its delivery costs through fixed charges and rely less on volumetric charges.

Cash prices were able to recover Monday all of the ground they had lost Friday and more as numbers moved higher at all but two points. There was cooling load developing in the South and Southwest, still-substantive heating load on both sides of long stretches of the U.S.-Canadian border, support from the 20.4-cent advance by May futures Friday and the return of industrial demand from its typical weekend hiatus.

With quotes rising at all but two points Monday, the cash market managed to recover some of the price ground it had lost on the preceding Friday. Weather fundamentals were generally moderate except for heating load on either side of the Canadian border and cooling load stretching from the western end of the South through the Southwest. The market also derived support from an increase in industrial load following the weekend.

Criticized in the past for not spending enough to find and recover new oil and natural gas reserves, ExxonMobil Corp. is boosting its capital spending by about 20% to $25 billion this year and said it plans to pend at least that much every year until 2012.