Despite Tuesday’s large opening gap and 11.8-cent collapse, theMarch contract found support in the high $2.40s yesterday andmanaged a small 1.5-cent gain to end the regular trading day at$2.530. It hit bottom at $2.465 and reached a high for the day of$2.545. April was down 0.3 cents to $2.541, and nearly all of theremaining months were unchanged from the day prior.
Articles from Situation
Saying its Washington Ranch Storage Field was experiencingmaximum withdrawals, El Paso declared an Unauthorized OverpullPenalty situation effective Thursday until further notice. Thepipeline said it would limit scheduled volumes at underperforminginterconnects to insure system integrity.
Billing Controversy in Georgia Deregulation
Atlanta Gas Light Co. (AGL) will be the first to say that warmweather and fixed prices can cause trouble. In a situation that hascaught the eye of Georgia’s Public Service Commission (PSC), AGL’snew unregulated billing has enraged hundreds of customers who,because of warm weather, have not used much gas, but still receivedwinter-like gas bills. The public outcry caused the PSC to schedulea vote on Jan. 5 to determine whether a hearing should be held toexamine re-regulating the state’s gas industry. If the commissiondecides a hearing is necessary, it will be held Jan. 26 with adecision to come shortly thereafter.