Putting to rest the capacity release contract dispute raised by Tenaska Marketing Ventures against Northern Border Pipeline Co. in the wake of Enron Corp.’s bankruptcy, FERC ruled last Wednesday in favor of Northern Border, denying Tenaska’s complaint against the pipeline.
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Construction of Rest of Phase II MarketLink, Leidy East Projects OK’d
The Federal Energy Regulatory Commission staff has given Transcontinental Gas Pipe Line the green light to begin construction of the remaining facilities of its Phase Two MarketLink and Leidy East projects to provide expanded natural gas service to traditional and power generation markets in Pennsylvania, New Jersey and New York.
AGLC Reaches Deal with GPSC; Will share Excess Profits
Putting to rest a Georgia Public Service Commission (GPSC) complaint from August 2001, Atlanta Gas Light Co. said last week that it reached an agreement with the GPSC regarding its commission-imposed earnings review. Under the agreement, AGLC adopted a three-year performance-based rate plan that will reduce the base rates of its customers by $10 million annually. The company also reported its first quarter 2002 earnings, which showed a small decline from the similar quarter a year ago.
Rockies Prices Rally Strongly; Rest of Market Mildly Higher Again
Except for a major turnaround of previously slumping Rockies prices, Wednesday’s cash market was close to a repeat of Tuesday: flat to a few cents higher at nearly all non-Rockies points. The Midcontinent saw most of the larger non-Rockies increases around 4-8 cents because of snowy conditions returning to its Midwest market area.
FTC Assigned Reviews of Future Energy Mergers Under Agreement
Federal review of all future energy mergers for compliance with antitrust laws will rest entirely with the Federal Trade Commission (FTC), according to a memorandum of agreement (MOA) worked out between the FTC and the Department of Justice’s antitrust division.
FTC Assigned Reviews of Future Energy Mergers Under Agreement
Federal review of all future energy mergers for compliance with antitrust laws will rest entirely with the Federal Trade Commission (FTC), according to a memorandum of agreement (MOA) worked out between the FTC and the Department of Justice’s antitrust division.
Late Rally in Energy Futures Boosts Natural Gas to Three-Week Highs
In sympathy with a late rally experienced by the rest of the energy complex, natural gas futures surged higher into the close Monday, as speculative fund and local traders covered shorts and propelled the market to its fourth-straight gain. After gapping lower at the opening bell, the momentum quickly turned in bulls’ favor as buyers stepped up and pressured the March contract through key technical levels at $2.16 and $2.21. Sellers backed away once the market had pierced $2.21, leaving buyers little choice but to bid up the market higher. The March contract finished at $2.286, up 9.5 cents or 4.3% for the session.
Westcoast Seeks 19% Rate Hike in BC
British Columbia’s natural gas pipeline grid is seeking to raise its tolls by up to 19% and is urging regulators and the rest of the industry to tackle a lingering Canadian headache with potential to increase costs further. Westcoast Energy Inc., soon to be subsidiary of Duke Energy under a takeover transaction scheduled to close shortly, has applied to the National Energy Board for the raise in the new year.
Rockies Rebound, Rest of Market Drops a Nickel
The Rockies market rebounded Tuesday from Monday’s depths, with prices reported back in the $1.60s at Opal and a dime less on CIG, which had been in the $1.20s on Monday. However, few explanations were given. Weather there is still warmer than normal and is expected the stay that way in the short term.
Western Prices Join Rest of Market With Solid Gains
A relatively bullish storage report (65 Bcf), rising futures prices, continued moderate heating demand and the shutdown of another unit at the Palo Verde nuclear station in Arizona all contributed to solid price increases across the board yesterday.