Spikes

Although this week’s winter siege likely was reaching its maximum area of penetration Wednesday, for the most part it had lost much of its price-boosting power. Except for big advances by Florida citygates and some citygates in the Northeast, the rest of the cash market had settled down for a generally flat performance, with scattered points showing 1 to 5 cent increases.

Buoyed by a much smaller-than-expected storage injection figure, natural gas futures spiked dramatically higher in the last 30 minutes of trading Wednesday as traders covered shorts initiated during the long and slow decline over the past nine and a half months. The November contract experienced a blitzkrieg of buying just after 2 p.m. EDT and prices reacted instantaneously, rocketing 32 cents in just in just two minutes and notching a fresh two-month high at $3.00. November finished just off that level at $2.981, up a cool 30 cents for the session.

Primarily building on upward momentum from the day before and an initially higher screen, the cash market continued to push higher Wednesday with gains that were mostly within a few cents on either side of 20 cents but tended to be greater in the Rockies.

Despite exorbitant price spikes in natural gas and deregulation setbacks in various markets around the country, a new study released by the American Gas Association (AGA) revealed that an increasing number of small businesses and other commercial customers are purchasing their natural gas supplies from someone other than the local utility, continuing the evolution of competition in the natural gas industry.

Despite exorbitant price spikes in natural gas and deregulation setbacks in various markets around the country, a new study released by the American Gas Association (AGA) revealed that an increasing number of small businesses and other commercial customers are purchasing their natural gas supplies from someone other than the local utility, continuing the evolution of competition in the natural gas industry.

Prices came out of the weekend ranging from flat to moderately higher at nearly all eastern points Monday. Much bigger increases, including triple-digit ones in California, reigned in the West, a region that was experiencing weather extremes Sunday and Monday.

With natural gas price spikes finally seeming to ease after asix-month-long roller coaster ride, U.S. electricity generatorshave taken the experience as a warning, but vow to stick withnatural gas as their go-to plant-firing source.

With natural gas price spikes finally seeming to ease after asix-month-long roller coaster ride, U.S. electricity generatorshave taken the experience as a warning, but vow to stick withnatural gas as their go-to plant-firing source.

Consolidated Edison Inc. called on FERC last Tuesday to enactmechanisms to limit the potential for price spikes in the New Yorkwholesale power market this summer.