Rebounding from two selling legs early in the session, natural gas prices shot higher Tuesday afternoon as weak shorts were forced to cover their earlier sales. At the closing bell the April contract had settled at $3.018, down 0.3 cents on the day but well above its earlier low of $2.86.
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Lower Storage Build Sends Futures Back Above $3.00
Bullied by a smaller-than-expected storage injection figure, natural gas futures shot 20 cents higher in 40 minutes Wednesday as traders alleviated oversold conditions and pressed the market through several important technical levels. The August contract received the biggest boost, closing 30.6 cents higher at $3.276.
July 26, 2001
Futures Back Above $4.00 on Heat and Techs
Notching its first back-to-back price advance since mid-May, natural gas futures shot higher at the opening bell Monday as warmer-than-expected temperatures prompted commercial buyers to pressure the July contract through several layers of resistance. After the initial buying surge, however, the market quieted considerably, leaving prices to shuffle sideways throughout much of the session. July finished at $4.069, up 13.9 cents for the day.
June 5, 2001
Hoecker Tells Gov. Davis to ‘Put Down the Guns’
In his parting shot as FERC chairman last week, James J. Hoecker issued one last plea to California Gov. Gray Davis to join with the Commission to enforce its comprehensive reforms for the state’s beleaguered power market: a $150/MWh soft price cap on wholesale sales, an emphasis on forward contracting by utilities, market-monitoring activities, and state participation in a regional transmission organization (RTO).
January 22, 2001
Hoecker Tells Gov. Davis ‘Put Down the Guns’
In his parting shot as FERC chairman last week, James J. Hoeckerissued one last plea to California Gov. Gray Davis to join with theCommission to enforce its comprehensive reforms for the state’sbeleaguered power market: a $150/MWh soft price cap on wholesalesales, an emphasis on forward contracting by utilities,market-monitoring activities, and state participation in a regionaltransmission organization (RTO).
January 22, 2001
New Power to Protest in PA
The New Power Company fired the latest shot last week in itstwo-month-long battle with Green Mountain Energy Co. and PecoEnergy over the placement of more than 300,000 of PECO’selectricity customers. New Power announced late last week that itintended to file a protest with the Pennsylvania Public UtilityCommission (PUC) regarding the companies’ actions in allocatingthose customers.
December 26, 2000
NEB Chair Has a Warning for the Energy Industry
The chairman of Canada’s National Energy Board, Ken Vollman, hasfired a shot across the bows of the international natural gascommunity, urging it to do more than count the profits from today’shigh prices.
October 9, 2000
NEB Chair Has Warning for the Industry
The chairman of Canada’s National Energy Board, Ken Vollman, hasfired a shot across the bows of the international natural gascommunity, urging it to do more than count the profits from today’shigh prices.
October 9, 2000
CA Heat, Nuke Outages Spark Heavy Demand
Gas prices shot to $5/MMBtu last Monday at the SouthernCalifornia border and PG&E Citygate, and hourly intra-daypeaking prices on the California Power Exchange spiked to $863/MWh.Day-ahead peaking power prices got as high as $470.
May 29, 2000
Murkowski: FERC Should Punish Utilities that Steal Power
Senate Energy Chairman Frank Murkowski yesterday took anothershot at what’s fast becoming his favorite target — FERC. Hechided the Commission for failing to take punitive action againstelectric utilities that “improperly” took power from the grid lastsummer.
May 11, 2000
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