Respective

Looking for some early holiday cheer, two Oregon liquefied natural gas (LNG) projects expect to clear local hurdles in their respective permitting processes this week. Both NorthernStar Natural Gas’s Bradwood Landing LNG project along the Columbia River and the Jordan Cove Energy Project LP at Coos Bay along the Pacific Coast hope to be able to concentrate on the FERC process next year.

With the crucial vote less than a week away, the Chicago Mercantile Exchange (CME) and IntercontinentalExchange (ICE) continue to turn up the intensity in their respective pursuits of acquiring and merging with the Chicago Board of Trade (CBOT). On Tuesday, ICE resubmitted its merger proposal to CBOT, while CME touted the approval of its bid by additional advisory firms.

California’s energy policy committees in the lower house Assembly and Senate moved three energy bills on to their houses’ respective appropriations committees following action Monday and Tuesday. Included is a solar water heating bill designed to make a concerted run at displacing natural gas-fired water heating, which is the most common source of water heating in the state (see Daily GPI, April 25).

Breaking down the respective costs of various mainstream home energy sources, natural gas will be the cheapest to use in 2007, according to the Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy. The DOE forecast of projected costs of natural gas, heating oil, electric, propane and kerosene energy use was published in the March 21 Federal Register. According to DOE, one million Btus of natural gas will cost an estimated $12.18 this year — while the same amount of electricity will cost families more than twice as much ($31.21) on average. Natural gas will also cost less than heating oil ($16.01), kerosene ($19.48) and propane ($20.47). “These cost savings can add up quickly, especially for home heating and water heating,” said Tom Moskitis, American Gas Association (AGA) managing director of external affairs. “For water heating, an average household using a conventional storage type water heater would save around $220 per year in energy costs by using a natural gas water heater instead of a similar electric unit. That means the natural gas water heater can pay for itself after just a few years — and save a consumer $2,000 in energy costs over the nine-year life of the appliance.” According to AGA analysis of the DOE’s cost projections, the least expensive way to heat a home in 2007 is with a high-efficiency (94%) natural gas furnace. The association said this option will cost consumers an estimated $801 in 2007, compared with $1,930 for the most expensive home-heating option — an electric resistance system (such as electric warm air furnace heating). For the full year 2007, AGA found that an 84%-efficient oil furnace would cost a consumer $946 while a 94%-efficient propane furnace would cost $1,184. An electric 7.7 HSPF heat pump would come the closest to the natural gas option, costing customers $814 in 2007.

Breaking down the respective costs of various mainstream home energy sources, natural gas will be the cheapest to use in 2007, according to the Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy. The DOE forecast of projected costs of natural gas, heating oil, electric, propane and kerosene energy use was published in the March 21 Federal Register.

A returning and a new member of the Arizona Corporation Commission (ACC) will be sworn into their respective offices Tuesday, giving the state regulatory commission a permanent replacement for Marc Spitzer, a former member and state legislative leader who accepted a nomination to FERC earlier this year. The ACC will begin the new year with a full complement of regulators.

Natural gas futures were trading fast and furious Wednesday as traders worked to get their respective positions in order ahead of the October contract going off of the board. As a result, October natural gas plummeted to $4.070 — marking a new low for the extended move — before expiring at $4.201, down 32.5 cents on the day.

Citing their respective physical and financial strengths in announcing an energy marketing and trading joint venture Thursday, Calpine Corp. and Bear Stearns Companies Inc. indicated they hope to capture a “very significant” part of the natural gas and electricity trading business in North America.

Neither Southern California Gas nor Pacific Gas & Electric extended their respective high-linepack OFOs beyond Saturday.