The White House remained mum throughout last week on its finalchoice for FERC chairman, but sources indicate that President Bushcontinues to champion Texas regulator Pat Wood III over currentFERC Chairman Curt Hebert Jr. for the job despite mounting pressurefrom Capitol Hill to keep Hebert.
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White House Leaves Industry Guessing on FERC Chairman
The White House has remained mum throughout the week on itsfinal choice for FERC chairman, but sources indicate that PresidentBush continues to champion Texas regulator Pat Wood III overcurrent FERC Chairman Curt Hebert Jr. for the job despite mountingpressure from Capitol Hill to keep Hebert.
Prices Dive Due to Warmer Forecasts, Screen Plunge
Weather remained cold Tuesday over most of the East, butpredictions of at least a moderate warming trend developing and ahuge plunge in futures were enough to spur the cash market to makea steep descent of its own. Dollar-plus declines were common.Transco Zone 6 (NYC) fell nearly 20 dollars, yet still reigned asthe costliest price point with an average of more than $18.
Producers Band to Explore Northern Project
While the Yukon and Alaska claimed the lead, Canada’s NorthwestTerritories remained far from forfeiting as action heated up onboth sides of the international rivalry to be first to takeadvantage of surging natural gas markets with Arctic supplies.
Transportation Notes
An Overage Alert Day notice remained in effect Monday until furthernotice for the Florida Gas Transmission system (see Daily GPI, Sept. 25). The tolerance for negative dailyimbalances had been loosened to 15%.
Power and Storage Demand, Cool Weather Boost Prices
The cash market remained bullish Tuesday despite flaggingsupport from energy futures. That was being replaced by moderateheating load starting to surface in northern market areas alongwith strong power generation demand and storage concerns in theWest.
Texas Pipeline Blast Kills Police Officer
An Abilene, TX natural gas liquids pipeline owned by ExxonMobilCorp. remained shut down Friday night after an explosion killed apolice detective who was first on the scene of the accident, sent awoman to the hospital and forced the evacuation of nearbyresidents.
Texas Pipeline Blast Kills Police Officer
An Abilene, TX natural gas liquids pipeline owned by ExxonMobilCorp. remained shut down Friday night after an explosion killed apolice detective who was first on the scene of the accident, sent awoman to the hospital and forced the evacuation of nearbyresidents.
Prices Keep Rising, But Fall Expected as Northeast Cools
Although the Northeast power grid remained under heavy stressTuesday from an intense heat wave, hourly spot prices for electricitywere backing off from the peaks of $6,000/MWh hit Monday afternoon inthe ISO New England service area (see related story in this issue). Although gasprices continued to advance Tuesday, a large aggregator felt confidentin predicting they will be following power quotes lower today.
Screen and a Bit of Cold Weather Keep Prices Rising
Cash numbers remained in their early-March climbing modeThursday, with advances of about a nickel to more than a dimeclosely mirroring those of the day before. However, a majordifference on Thursday was that western upticks tended to besmallest. The larger increases were mostly in eastern markets.