Taking

Taking its cue from FERC’s Dec. 15 ruling on reforms in theCalifornia power markets, a national group of municipal gasdistributors last week called on the Commission to immediatelyissue an order that would set $2.74/Mcf as the benchmark price fornatural gas over the next three years, and would provide forcustomer refunds for any sales above that level.

Taking steps to ensure Nevada does not fall prey to the”financial and operational chaos” of the California energy market,Sierra Pacific Resources introduced an emergency package ofproposed long-term contracts, tiered price increases, low incomeassistance and conservation programs to stabilize energy markets inNevada.

Taking steps to ensure Nevada does not fall prey to the”financial and operational chaos” of the California energy market,Sierra Pacific Resources introduced an emergency package ofproposed long-term contracts, tiered price increases, low incomeassistance and conservation programs to stabilize energy markets inNevada.

Texas Attorney General John Cornyn filed a civil lawsuit lastweek against ExxonMobil, accusing it of taking millions of dollarsin oil and gas revenue from land owned by the state’s taxpayers.Cornyn accused the company of defrauding Texas for at least 25years by “knowingly and wrongfully” producing oil and gas from 50acres of publicly owned right-of-way property in East Texas.

Dominion, which already had some trading appetizers on the table, is taking a bigger bite of the dotcom marketplace, announcing last week that its Dominion Energy Clearinghouse will offer a one-stop shop customized for its wholesale customers to price and buy energy commodities.

Dominion, which already had some trading appetizers on thetable, is taking a bigger bite of the dotcom marketplace,announcing yesterday that its Dominion Energy Clearinghouse willoffer a one-stop shop customized for its wholesale customers toprice and buy energy commodities.

Investigations in several states are getting under way intoalleged illegal profit-taking by UtiliCorp United in Missouri,Michigan, Nebraska, Minnesota and Iowa. An anonymous letter fromsomeone who claimed to be a current employee for UtiliCorp was sentto state regulators alleging the company’s Gas Supply ServiceDepartment (GSS) took part in improper actions in reselling naturalgas to customers in these states.

Investigations in several states are getting under way intoalleged illegal profit-taking by UtiliCorp United in Missouri,Michigan, Nebraska, Minnesota and Iowa. An anonymous letter fromsomeone who claimed to be a current employee for UtiliCorp was sentto state regulators alleging the company’s Gas Supply ServiceDepartment (GSS) took part in improper actions in reselling naturalgas to customers in these states.

For the fourth morning in a row, gas futures spiked higher onlyto come crashing down as long traders liquidated their positions inan effort to avoid margin calls on their positions. Includingyesterday’s margin hike, the exchange has raised margins on fivedifferent occasions in the past three weeks, resulting in anincrease for its customers from $5,670 (on Nov. 17) to $13,500.