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As a third quarter rarity in the energy industry showing increased profits and a stable stock price, Bellevue, WA-based Puget Energy executives said last week they see 2003 as a chance to shake off two industry albatrosses — depressed wholesale power prices and a “dark cloud” of uncertainty hovering over western energy companies from the pending federal investigations of alleged trading and price manipulation in the wholesale market.

Dynegy Inc.’s restructuring is on schedule, liquidity is improving, and investors are slowly showing a little more faith. Now, management wants to stabilize the once prosperous marketing and trading unit, and will disregard those who believe the energy merchant sector has been wiped out. “It’s awfully easy to get in a doom-and-gloom mood,” interim CEO Dan Dienstbier said Tuesday. “But I’m not pessimistic in our ability to complete our plan and move forward…Sometimes, you have to go home and say, ‘Hey, get a grip…This is a good, solid company, and we intend to be here when it is all sorted out.'”

As debate on the nation’s energy and environmental policy continues in Washington, coal lobbyists weighed in with a study showing that coal production and generation is responsible for between $163 and $659 billion in increased economic output in the U.S.

The warm winter in the East is showing up in financials from distribution companies up and down the East Coast, but at least one of them will be collecting on its weather insurance. New Jersey-based NUI Corp., Washington, DC-based WGL Holdings Inc. and North Carolina-based Piedmont Natural Gas Co., said warmer than normal temperatures in their natural gas service areas and the current economic recession are having an effect on earnings in 2002.

After moving lower in the minutes following the 2 p.m. EST American Gas Association storage report showing a net 16 Bcf withdrawal, natural gas futures rebounded modestly at the close Wednesday, the third day in a row the market has moved higher in the afternoon to rescind a portion of that day’s losses. However, just like on the two previous days, the result was the same — a net loss for the prompt month. January closed at $2.491, up slightly from its $2.45 low for the session, but down 7.2 cents for the day.

North America’s top 20 largest natural gas marketers based on volume showed a greater than 20% increase in volume (31 Bcf) during the second quarter and only Coral, PG&E, Williams and ExxonMobil reported slight decreases compared to the second quarter of 2000, according to NGI’s quarterly ranking of the companies.

North America’s top 20 largest natural gas marketers based on volume showed a greater than 20% increase in volume (31 Bcf) during the second quarter and only Coral, PG&E, Williams and ExxonMobil reported slight decreases compared to the second quarter of 2000, according to NGI’s quarterly ranking of the companies.

BP released its “Statistical Review of World Energy 2001” last week showing natural gas once again as the fastest growing fuel in 2000, with global consumption rising by 4.8% — the highest rate since 1996. However, the review also included for the first time a “Statistical Review of U.S. Energy.” For the U.S., BP notes, last year was a period when energy markets were characterized by high prices, low inventories, increased capacity utilization, and increased dependence on net energy imports. U.S. energy consumption growth in 2000, at 2.3%, was somewhat above the 10-year average of 1.8%, but well above the rate of growth in production, at 0.5%.

BP released its “Statistical Review of World Energy 2001” yesterday showing natural gas once again as the fastest growing fuel in 2000, with global consumption rising by 4.8% — the highest rate since 1996. However, the review also included for the first time a “Statistical Review of U.S. Energy.” For the U.S., BP notes, last year was a period when energy markets were characterized by high prices, low inventories, increased capacity utilization, and increased dependence on net energy imports. U.S. energy consumption growth in 2000, at 2.3%, was somewhat above the 10-year average of 1.8%, but well above the rate of growth in production, at 0.5%.