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Integrated commodity risk management firm FCStone Group Inc. has became the latest firm to get caught on the wrong side of a natural gas deal as the company said it expects to incur an additional $60 million to $80 million pre-tax bad debt provision for 2Q2009 in connection with previously reported losses by “a significant energy trading account,” for which FCStone serves as the clearing firm.

Integrated commodity risk management firm FCStone Group Inc. this week became the latest firm to get caught on the wrong side of a natural gas deal as the company said it expects to incur an additional $60 million to $80 million pre-tax bad debt provision for 2Q2009 in connection with previously reported losses by “a significant energy trading account,” for which FCStone serves as the clearing firm.

Fittingly enough, traders of February natural gas futures stuck with their trend of the week Friday by continuing to side with the faltering economy over chilly temperatures. The prompt-month contract ended up dropping 4.2 cents Friday to close at $4.801, which was 71.5 cents, or 13% lower than the previous week’s finish.

The Public Utilities Commission of Ohio (PUCO) has approved Columbia Gas of Ohio’s request to implement demand-side management (DSM) programs, subject to approval of a DSM cost recovery rider proposed in the company’s pending rate case.

Natural gas futures crashed lower for a third consecutive session Wednesday amid rumors that a large commodity trading firm was rapidly exiting its positions. August natural gas traded as low as $11.920 before closing out the day’s regular session at $12.006, down 36.2 cents from Tuesday’s finish.

The backers of the Bradwood Landing liquefied natural gas (LNG) project along the Oregon side of the Columbia River filed a 3,700-page biological assessment of its site, including a salmon-saving program, on Wednesday with FERC. NorthernStar Natural Gas described the document as a key to getting the final federal environmental assessment on its proposed 1 Bcf/d receiving terminal and related pipeline.

Canadian junior explorer Gastem Inc. has begun the first phase of a drilling development program on the New York state side of the emerging Utica Shale natural gas play, which extends from Quebec into New York.

The current market favors further consolidation by energy utilities, but especially those on the electric side, a Duke Energy official said Tuesday in Washington, DC.

Looking to tackle high energy bills for its customers from the demand side, the Ameren Illinois Utilities on Tuesday filed an energy efficiency plan with the Illinois Commerce Commission (ICC) designed to help customers save money by reducing their natural gas usage.