Sprinted

Noting that since the energy crisis that electricity programs have sprinted ahead relative to gas, the California Public Utilities Commission Thursday increased funding by 20% this winter for natural gas energy efficiency programs by the state’s three major private-sector gas utilities as a means of helping the gas programs catch up. The added funding is projected to save 8.7 million therms, or a 40% boost in energy savings.

June bidweek activity heightened considerably Thursday astraders sprinted toward the finish line, either trying to wind upeverything Thursday or leave only a few tail-end deals to completetoday. A marketer who made six Chicago citygate deals in a verytight range on either side of $2.30 said June prices were justbarely higher despite a gain of more than a nickel in the JulyHenry Hub futures contract. He thought the lack of volatility wasdue to many people leaving early for a long weekend. If moretraders were still around and working there would be more input andbreadth to the ranges.