Both El Paso Energy and Coastal Corp. wracked up record earningsfor the first quarter, while The Williams Cos. gave a lacklusterperformance – with most of its major business groups posting lowerresults compared to a year ago.
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Retail Marketers Score In Connecticut Ruling
In an interim decision on retail gas competition last week,Connecticut regulators bowed to pressure from marketers by loweringbalancing penalties, allowing imbalance trading and ordering thestate’s three LDCs to provide a monthly economic comparison ofvarious cash-out methodologies.
Industrials, LDCs Score Big in Curtailment Case
The D.C. Circuit Court of Appeals on Friday remanded a case inwhich industrial and LDC customers challenged a FERC-approvedmethod for compensating customers that are curtailed beyond theirpro rata share on Texas Eastern Transmission (Tetco). “This was avery good result for us,” said an attorney for one of thepetitioners.
Futures Traders Score One For the Bulls
Brokers and speculators (at least some, anyway) may havebreathed a collective sigh of relief on Wednesday, as volatilityreturned to the New York Mercantile Exchange. The April contractfinally broke out of the tight $2.105-205 trading range that hadbeen containing its movements since March 6 by virtue of its 8.4cent rise to $2.239. Sources agreed the activity was led byanticipatory buying ahead of the release of the latest AGA storagereport. “It was more buy based on rumor today, but the rumor wasstrong enough to drive April above major resistance at $2.205,” oneof the sources told NGI.