Shook

The moderate earthquake that shook a width swatch of Southern California inhabited by more than 20 million people last Tuesday was felt throughout the region, but did little or no significant damage to the area’s energy and other infrastructures. Local energy utilities reported scattered outages but no major impact on the electricity and natural gas infrastructure. Caltech seismology experts placed the quake’s magnitude at 5.4 on the Richter Scale. By comparison, the 6.7 magnitude Northridge event of January 2004 caused widespread death, injury and damage to infrastructure. The quake was centered in the eastern part of the San Gabriel Valley near the Chino Hills, which is about 20-25 miles east of downtown Los Angeles and was described as a “shallow” temblor about seven miles below the earth’s surface. Southern California Edison Co., headquartered in Rosemead, CA, less than 15 miles from the presumed epicenter, reported scattered outages in about a half dozen communities closest to the quake’s center. Subsequently, Edison did report a fire in a La Habra substation that is within a few miles of the quake’s epicenter. Distribution problems were reported in the immediate Chino Hills-Pomona-Brea area in the far eastern end of Los Angeles County caused by the power lines swinging together and touching. At least one fire in a local distribution substation was also reported. The Los Angeles Department of Water and Power and Los Angeles-based Southern California Gas Co. reported no problems.

A moderate earthquake shook Southern California late Tuesday morning. It was felt throughout the region, but did little significant damage. Local energy utilities reported scattered outages but no major impact on the electricity and natural gas infrastructure.

After winning by the barest of margins in an election that was disputed for weeks, Washington state’s new Gov. Christine Gregoire earlier this month shook up the three-member state Utilities and Transportation Commission (UTC) by appointing two new commissioners, including a new chairperson, to six-year terms. The move pushes the current UTC chairperson, Marilyn Showalter, out of the job she has held for the past four years.

Last week Amerada Hess Corp. shook up its operations to improve its bottom line by selling 26 of its Gulf of Mexico shelf properties to Anadarko Petroleum Corp., transferring ownership of North Sea properties to EnCana Corp. and laying off of about 30% of its workforce.

Looking for a way to turn things around in the difficult energy marketplace, TXU Corp. last week shook up its senior management structure, while at the same time announcing that the company is in the process of reducing officers overall by about 30%. The moves are part of the company’s action plan to cut 2003 costs by a net $250 million from 2002 levels, aimed at streamlining the organization and increasing focus on the operations of its core businesses in North America.

Looking for a way to turn things around in the difficult energy marketplace, TXU on Wednesday shook up its senior management structure, while at the same time it announced the company is in the process of reducing officers overall by about 30%. The moves are part of the company’s action plan to cut 2003 costs by a net $250 million from 2002 levels, aimed at streamlining the organization and increasing focus on the operations of its core businesses in North America.

The cash market finally shook off the price weakness that haddominated it since late last week as most points ranged from flatto up about a nickel Tuesday, with some in the Rockies/San JuanBasin achieving dime-plus gains. However, with traders still unableto perceive see any significant weather load on the horizon and thescreen falling more than a quarter, the cash firmness was expectedto be short-lived.