Settles

Chesapeake Energy Corp. and CEO Aubrey K. McClendon have been notified by the Securities and Exchange Commission (SEC) that the Fort Worth, TX, regional office has begun an informal inquiry and “requested that the company and Mr. McClendon retain certain documents,” the company said after the stock market closed on Thursday.

The price level wholesale natural gas settles into could have an impact on the mix of renewable-based electric generation developed in the future, a panel of utility industry top executives said last Tuesday at the Bank of America Merrill Lynch Power & Gas Leaders Conference in New York City. Wind can be the most price-competitive, and solar is the most costly right now, the executives said.

The price level wholesale natural gas settles into could have an impact on the mix of renewable-based electric generation developed in the future, a panel of utility industry top executives said Tuesday at the Bank of America Merrill Lynch Power & Gas Leaders Conference in New York City. Wind can be the most price-competitive, and solar is the most costly right now, the executives said.

Stopping the streak of consecutive days of higher settles at four, natural gas futures traders took a breather Wednesday ahead of what is expected to be a bullish storage report on Thursday. February natural gas traded in a slim $7.350 to $7.540 range before settling at $7.421, down 17.6 cents on the day.

Going out on a weak note, May natural gas futures went off the board Wednesday after completing its fifth consecutive trading day of lower settles. After notching a low of $7.000, May expired at $7.198, down 5.6 cents on the day.

Utility consolidation is likely to continue in the wake of several recently announced mega mergers. When the dust settles, the number of utilities in the U.S. could be whittled down from the current number of over 100 to 50 in less than five years, Constellation Energy CEO Mayo Shattuck said.

The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.

The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.

The Commodity Futures Trading Commission (CFTC) filed and simultaneously settled charges against BP America Inc. Thursday for engaging in illegal wash trading in the power market in 2000 via an electronic trading platform. The order directs BP Energy, the marketing arm of BP plc’s Gas, Power and Renewables unit, to cease and desist from further violations, pay a $100,000 civil penalty, and provide future cooperation in investigations of related matters. BP neither admitted nor denied the findings made in the order.