Should

Hotter than normal temperatures should prevail through the heavily populated Northeast for the rest of the summer and into the fall, according to an updated weather forecast released last week by Weather Services International (WSI). The latest forecast backs up one issued in April by Salomon Smith Barney meteorologist Jon Davis, who predicts a chance of heat waves in the Northeast and on the West Coast.

Hotter than normal temperatures should prevail through the heavily populated Northeast for the rest of the summer and into the fall, according to an updated weather forecast released Wednesday by Weather Services International (WSI). The latest forecast backs up one issued in April by Salomon Smith Barney’s meteorologist which predicts a chance of heat waves in the Northeast and on the West Coast.

U.S. natural gas production and the nation’s vociferous demand could make it a little more dependent on imported gas if a recent long term forecast by a committee of the Independent Petroleum Association of America (IPAA) holds up. Natural gas demand is expected to increase to 30.7 Tcf by 2015, while U.S. production is only expected to get up to 24.8 Tcf over the same time period.

President Bush last week put the Federal Trade Commission (FTC) on notice that it should deal swiftly with complaints from the public involving illegal overcharges on energy, and instructed FERC to closely monitor electricity suppliers to ensure they are charging “fair and reasonable” prices.

President Bush yesterday put the Federal Trade Commission (FTC) on notice that it should deal swiftly with complaints from the public involving illegal overcharges on energy, and instructed FERC to closely monitor electricity suppliers to ensure they are charging “fair and reasonable” prices.

Following a lackluster rally attempt last Thursday, bears in the natural gas pit reasserted themselves Friday, pressuring the spot month lower for the tenth time in the last eleven trading session. Buoyed by overnight short-covering, the June contract was fast out of the chute at the opening bell, as it broke above Thursday’s $4.55 high. However, the buying pressure dried up at about 10:00 A.M. (EST) leaving the market susceptible to a sell-off. At the closing bell, June was 3.7 cents lower at $4.490.

New York State Assemblyman James F. Brennan (D-Brooklyn) last week introduced legislation calling for the creation of a New York City public electric power system that would repurchase power plants previously sold by Consolidated Edison (ConEd) to several unregulated companies.

President George W. Bush put an end to a lot of anticipation at FERC last Tuesday when he announced his plans to nominate Texas regulator Patrick H. Wood III and Pennsylvania regulator Nora M. Brownell for the two vacant commissioner spots on the Commission. But the president was mum on whether Wood would replace current FERC Chairman Curt Hebert Jr.

FERC yesterday ordered Williams Energy Marketing & Tradingand AES Southland Inc. to justify why they should not be found tohave violated the Federal Power Act (FPA) by engaging in actions todrive up power prices in the California bulk market and potentiallycompromising the reliability of the transmission network.