Temperature

Noting that a normal temperature winter could bring a 20-30% increase to its customers’ natural gas bills, Piedmont Natural Gas warned that a colder than normal period could send those bills much higher.

Despite an early dip and a temperature reprieve forecasted by the National Weather Service (NWS), natural gas futures stayed hot Monday, as traders continued to cover shorts following last week’s 14% rally. Saving their best for last, bulls were most active at the close Monday, as they pushed the September contract an additional 4% higher on the day to $3.267, a 11.8-cent gain for the session. Estimated volume was heavy with 105,487 contracts changing hands.

Citing “increasing soil and ambient temperature” that requires adecrease in its target linepack, NOVA is offering to sell up to190,000 gigajoules to customers. The pipeline will accept purchasetenders tied to a Canadian index through 1 p.m. MDT Thursday. Thegas will be sold through inventory transfers in approximately evenincrements over a period of up to 14 days starting around May 15,NOVA said. Call Jeff Stoffregen at (403) 541-4726 or Donna Taillonat -4802 for more information.

While the American Gas Association (AGA) report loomed at theend of Wednesday’s trading, moderate temperature forecasts and theeasing of New England and New York electricity jams were enough tocause drops of more than a nickel in the Northeast. The New Yorkcitygate ended the day in the mid $2.50s after ascending to the mid$2.70s on Monday.