Regardless

Regardless of the recent major declines in gas prices, the Energy Information Administration (EIA) remains firmly in the natural gas bulls’ camp, predicting that spot Henry Hub gas prices, which averaged $9.00/Mcf in 2005 will average $11.25/Mcf ($10.92/MMBtu) in the first quarter of 2006 and $9.80/Mcf for the year. Last month, EIA’s forecast was $11.48 for the first quarter and $9.30 for the year. Henry Hub prices currently are about $8.60/MMBtu ($8.35/Mcf).

Raymond James’ energy analysts said there is the potential for several energy surprises this year, events that conventional wisdom considers unlikely. However, the market may be “significantly underestimating” the likelihood of some, including their belief that winter natural gas storage will fall below 1,000 Bcf — even without an abnormally cold winter.

Regardless of the merits or faults of a recently proposed generator retirement policy by PJM Interconnection, there are deeper market design flaws that the regional transmission organization (RTO) must address in order to ensure reliability in its footprint, generators told FERC in recent filings [EL03-236].

The New York Mercantile Exchange (Nymex) and the IntercontinentalExchange (ICE), Nymex’s chief rival in the energy markets, released contradictory statements Thursday regarding a court decision in their legal battle over the use of Nymex futures settlement prices. Nymex claimed victory, but ICE said the key issue in the dispute was left undecided.

Regardless of who wins the race to site the West’s first liquefied natural gas (LNG) receiving terminal, the new supplies will have to flow through San Diego-based Sempra Energy’s pipelines — whether or not they go to the California market.

Regardless of who wins the race to site the West’s first liquefied natural gas (LNG) receiving terminal, the new supplies will have to flow through San Diego-based Sempra Energy’s pipelines — whether or not they go to the California market.

Atlanta-based Mirant said late Monday it has offered to restructure some of its debt and bonds in a plan designed to pay off its creditors and avert a likely bankruptcy. The company also is asking its debt holders to vote in favor of a “fast track” pre-packaged plan of reorganization, in case an insufficient number of banks or bondholders agree with its out-of-court restructuring plan.

In an effort to allow trading firms to automatically submit trades for confirmation regardless of execution means or proprietary data formats, IntercontinentalExchange (ICE) last week unveiled its web-enabled eConfirm, an electronic trade confirmation service for global energy and metals markets.

Regardless of whether state regulators change the present proposed decision on rate coverage for the Department of Water Resources’ (DWR) power buying, Pacific Gas and Electric Co. will move ahead with its proposed bankruptcy reorganization plan which should be filed “well before” its current Dec. 6 deadline. Sources close to the San Francisco-based utility indicated the expected filing could come at any time in the next few days or weeks.