Spring

Despite current moderate to extreme drought conditions in the Pacific Northwest region, the Northwest Power Planning Council (NPPC) reiterated in a report last week that it does not expect any power supply problems this winter or next year because of about 3,000 MW of new non-hydro generation that has been built.

Despite current moderate to extreme drought conditions in the Pacific Northwest region, the Northwest Power Planning Council (NPPC) reiterated in a report this week that it does not expect any power supply problems this winter or next year because of about 3,000 MW of new non-hydro generation that has been built.

WSI Corp. said it expect warmer-than-normal temperatures for much of the country with the exception the Pacific Coast and in the Southeast over the next three months. The warmest temperatures, relative to normal, are expected in the central Plains and Northeast, while the coolest temperatures, relative to normal, are expected along the California coast.

With 42,000 Georgia retail gas customers still disconnected from service (down from 200,000 eligible for disconnection last spring) mainly because of unpaid bills, Georgia Gov. Roy Barnes has asked the state’s Consumers’ Utility Counsel to file a request that the state Public Service Commission (PSC) designate a provider of last resort (POLR) before the winter begins. Barnes also has appointed a task force to look into problems in Georgia’s gas market.

As an outgrowth of the winter-spring energy price and supply crunch that spawned a statewide emergency and two special sessions of the state legislature, California wound up this week with two new bills designed to promote cheaper, more reliable natural gas supplies. Gov. Gray Davis signed the bills (AB 1233 and AB 21XX) over the weekend.

Cash prices rebounded virtually everywhere Monday except in California as traders returned from the long Good Friday/Easter weekend. Most gains were between about a dime and 15 cents, with the Rockies seeing mostly smaller ones that ranged from flat to up about a nickel, and points in the Northeast and Appalachia registering larger advances of about 20 cents or more.

With the official start of spring, time began to press California’s wide-ranging efforts to fix past, present and future (short and long-term) energy problems. For every positive last week, there seemed to be greater negative developments to deal with, rolling blackouts being the most dramatic. By last Friday, the prospect for bigger problems ahead seemed unavoidable.

Spring is not the only thing currently in the air, as merger and acquisition activity continues at the rapid pace set during 2000. Midland, TX-based Pure Resources Inc. and Denver, CO-based Hallwood Energy Corp. announced they have signed a definitive merger agreement in which subsidiary Pure Resources II will acquire all of the outstanding shares of Hallwood common stock at a price of $12.50/share.

Spring is not the only thing currently in the air, as merger andacquisition activity continues at the rapid pace set during 2000.Midland, TX-based Pure Resources Inc. and Denver, CO-based HallwoodEnergy Corp. announced they have signed a definitive mergeragreement in which subsidiary Pure Resources II will acquire all ofthe outstanding shares of Hallwood common stock at a price of$12.50/share.