Surprising

In a surprising turn of events, Senate Republicans struck an agreement with the White House over the weekend which cleared the way for Senate approval of about 175 pending nominations, including that of FERC Commissioner Suedeen G. Kelly for a second term, and which will result in the expected recess appointment of two nominees to the Nuclear Regulatory Commission (NRC) in January, Senate Energy Committee Chairman Pete Domenici (R-NM) said.

In a surprising decision last Thursday, FERC rejected a bid by Gas Technology Institute (GTI), the successor to the Gas Research Institute (GRI), for a continued mandatory surcharge on natural gas volumes transported on interstate pipelines to fund new gas research, development and demonstration (RD&D) programs.

In a surprising decision Thursday, FERC rejected a bid by Gas Technology Institute (GTI), the successor to the Gas Research Institute (GRI), for a continued mandatory surcharge on natural gas volumes transported on interstate pipelines to fund new gas research, development and demonstration (RD&D) programs.

In a surprising decision Thursday, FERC rejected a bid by Gas Technology Institute (GTI), the successor to the Gas Research Institute (GRI), for a continued mandatory surcharge on natural gas volumes transported on interstate pipelines to fund new gas research, development and demonstration (RD&D) programs.

After the surprising 75-90 cent gains on Monday in response to colder weather in eastern market areas, the natural gas cash market took a big step downward Tuesday as high temperatures hit the mid-60s across most of the nation. Many points tumbled more than $1, sharply increasing the basis gap with December futures, which only slipped 12.9 cents Tuesday to $7.471/MMBtu on Nymex.

After the surprising 75-90 cent gains on Monday in response to colder weather in eastern market areas, the natural gas cash market took a big step downward Tuesday as high temperatures hit the mid-60s across most of the nation. Many points tumbled more than $1, sharply increasing the basis gap with December futures, which only slipped 12.9 cents Tuesday to $7.471/MMBtu on Nymex.

Flying in the face of fundamental and technical indicators, November natural gas futures ventured higher Tuesday to close at $7.123, up 31.7 cents on the day. December futures, which will soon take over the front month title, climbed 25 cents to settle at $8.315.

In a surprising move, the Federal Energy Regulatory Commission last Tuesday reversed an arbitrator’s decision denying claims by six California cities that they were unfairly charged for generation dispatched in early 2000 to replace service from reliability must-run (RMR) units that were unavailable at the time.

More than one trader was surprised to see cash prices generally holding firm Thursday, defying the greater than usual industrial load slump associated with a three-day holiday weekend. Forecasts of a cold front bringing winter-like chills again to the central U.S. and the strength of energy futures Wednesday and Thursday were cited as the chief reasons in the continued rally at most non-western points.