Speaking at a conference in New York earlier this week,Commissioner Linda K. Breathitt said she believes FERC will have toassume a role in the siting of electric generation and transmissionfacilities to ensure well-functioning competitive power markets.”FERC needs to have a role in the siting of new infrastructurebecause shortages of generation and transmission will not just bestate issues. I believe these shortages could become interstatecommerce issues that must be addressed by the federal government,”she said to the Bank of America Securities LLC gathering.
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Speaking prior to the launch of numerous state legislative proposals last week designed to solve California’s power crisis, FERC Chairman Curt Hebert expressed disappointment with the speed and direction the state has taken so far in attempting to manage its predicament.
Speaking prior to the launch of numerous state legislativeproposals yesterday designed to solve California’s power crisis,FERC Chairman Curt Hebert expressed disappointment with the speedand direction the state has taken so far in attempting to manageits predicament.
Despite a lower open and crumbling cash market values, naturalgas bulls fought their way higher on Friday as February pricesmoved above a key momentum number on technician’s charts. TheFebruary contract spent most of day trimming losses incurred duringthe overnight Access session, which paved the way for a lateshort-covering rally. The prompt month finished the day at $7.256,down 1.4 cents for the session but well above its $7.10 openingmark.
Natural gas futures finished on a sour note for bulls Fridayastechnical follow-through selling met with a bearish weather outlookfor this week. The November contract finished at $5.008, down 14.4cents on the day, 17.8 cents lower for the week, and a crushing55.7 cents off its high, reached less than two weeks ago.
What a difference a day can make. Just 27 hours after testingkey support at $2.81, natural gas futures staged a completeturnaround, rallying to its highest daily continuation chartsettlement price this year. Nearly non-existent fundamental factorsgave traders little choice but to rely again on technical tradingtools for price direction. After the May contract posted animpressive gap higher open, that direction was in little doubt. Theprompt contract finished up 6.8 cents at $2.956, just a fraction ofa cent off its $2.96 high and within a nickel of its $3.005all-time high.
The sponsors of Independence Pipeline and Millennium Pipelineprojects contend CNG Transmission Corp. is speaking with a forkedtongue when it comes to assessing the future need for new pipelinecapacity to the Northeast market.
The Independence Pipeline and Millennium Pipeline projectscontend CNG Transmission Corp. is speaking with a forked tonguewhen it comes to the need for new pipeline capacity to supply thegrowth in gas demand that’s expected for the Northeast market.
Technology and deregulation are viewed as the preeminent driversfor change in the energy industry by executives speaking last weekin Houston at the 17th congress of the World Energy Council.Indeed, change – of the fast-paced and relentless variety – seemedto be regarded as a given by most at the congress.