Connecticut Attorney General Richard Blumenthal is investigating the actions of power suppliers during a recent bone-chilling freeze that blanketed the Northeast, saying he has information that some generators sold natural gas on the spot market that could have otherwise been used for their own power plants during the recent power supply crunch.
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EIA: Low Storage/Production, Escalating Demand Spell Record Annual Prices in 2003
With working gas in storage expected to hit a record end-of-season low, gas demand slated for solid growth this year and production projected to rise by only a slim margin, the Energy Information Administration (EIA) in its short-term energy outlook for March predicts that the annual average price for wellhead natural gas will hit a record high in 2003.
EIA: Low Storage/Production, Escalating Demand Spell Record Annual Prices in 2003
With working gas in storage expected to hit a record end-of-season low, gas demand slated for solid growth this year and production projected to rise only marginally, the Energy Information Administration (EIA) in its short-term energy outlook for March predicts that the annual average price for wellhead natural gas will be a record high in 2003.
Western Drops Smallest as Nearly All Points Finally Soften
The spell of rising prices based on little or no fundamental support finally was broken Wednesday. Price movement ranged from flat to about 15 cents down, with most declines between about a nickel and a little more than a dime. Western numbers tended to see the smallest losses due to a blast of colder than expected weather that prompted a low-linepack OFO by El Paso (see Transportation Notes).
Texans Bake as Electricity Usage Hits Record
By today, a “cool” spell was expected to grip Texas, plungingtemperatures down to around 100. A nice respite from the 105-plustemperatures that stilled the state and sent electricity peak loadsto new records last week for the third time this year.
Special Forward-Market Purchases Proposed for SDG&E on Cal-PX
By the end of last week with rising temperatures, peak demandand political heat, San Diego Gas and Electric Co. and theCalifornia Power Exchange (Cal-PX) worked out a proposal for theutility to purchase fixed price electricity through forward marketsalready in place at the Cal-PX over a longer term five- tonine-month period into next spring. SDG&E has asked stateregulators to okay the purchases at their Aug. 3 meeting.
Massey: RTOs Spell Good News for Gas Generators
Regional Transmission Organizations (RTOs), a gridinterconnection policy and FERC’s merger-review policy are issuesthat have captured the interest of the electric industry, butCommissioner William Massey says natural gas companies should beequally as curious since the measures are likely to favorablyinfluence demand.