Remaining

With natural gas production down and prices remaining at persistently high and volatile levels, coal may be on its way back into favor for U.S. power generation, according to a report by Standard & Poor’s (S&P).

Spurred by Friday’s screen drop of more than a quarter and generally milder weather trends, prices dropped across the board Monday. The Northeast, despite facing a new winter storm late Monday that would continue through Tuesday, again led the market’s downhill trek with declines of around a dollar or greater.

Lehman Brothers analyst Thomas Driscoll expects the Department of Energy’s natural gas storage report on Wednesday to show a withdrawal during the week of Christmas of 122 Bcf — down from 123 Bcf in the same period last year and well off the five-year average of 161 Bcf. If the estimate is correct, Driscoll noted that gas inventory levels would stand at 2,577 Bcf, 160 Bcf higher than last year and 36 Bcf higher than the five-year average.

Despite freezing conditions still dominating the weather picture across the northern half of the U.S. and Canada, the cash market was softer at nearly all points Monday. A few flat points, mostly in the Rockies, were exceptions as Northeast citygate plunges of more than 60 cents led overall price declines that were mostly between a nickel and 20 cents.

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

Williams has signed three agreements to sell off its entire remaining business interests in Alaska for a total of $265 million in cash, subject to closing adjustments. The transactions will eliminate two cash-collateralized letters of credit that Williams has with the state, releasing $90.9 million back to the company.

After making in August 2002 what were expected to be the last remaining organizational changes since it bought Columbia Energy Group in 2000 (see Daily GPI, Aug. 30, 2002), NiSource announced another major corporate restructuring last week that includes the internal promotion of six new leaders for its major utility companies.

NiSource is making some of the last remaining organizational changes since it bought Columbia Energy Group two years ago. The company announced actions Thursday to reduce the size of its management structure. Under the plan, the streamlining will move executive management closer to customers and promote efficiency while lowering costs in response.

NiSource is making some of the last remaining organizational changes since it bought Columbia Energy Group two years ago. The company announced actions Thursday to reduce the size of its management structure. Under the plan, the streamlining will move executive management closer to customers and promote efficiency while lowering costs in response.