Bulk power transactions in 1997 increased significantly over1996 levels, pointing to the continued emergence of a competitivewholesale power market, according to Metzler Services’ 1997operating data and statistics for the electric utility industry.
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The American Gas Association released a study yesterday thatforecasts gas consumption growth of 40% by 2015, fueled by strongindustrial demand growth, the dominance of gas-fired generation innew power plant construction and the popularity of gas in new homeand commercial construction. AGA projects gas will expand its shareof the U.S. energy market to 28% in 2015. Consumption is expectedto rise to 31.9 quadrillion Btus (roughly 31 Tcf) from about 22.9quads in 1997.
Last year set a 1990s record for exploration and productioncapital spending, but the five-year trend of capital spendingincreases may end this year with the first decline since 1992.That’s one finding of Global Upstream Performance Trends, a reviewof domestic and international results for 131 publicly tradedcompanies by Arthur Andersen and John S. Herold.