Tempers flared last Tuesday at a meeting in the rural Louisiana town of Pierre Part as the slurry churned in an Assumption Parish swamp, but state regulators assured citizens that there’s no danger of a natural gas or any other kind of explosion.
Articles from Tempers
Tempers flared Tuesday evening at a meeting in the rural Louisiana town of Pierre Part as the slurry churned in an Assumption Parish swamp, but everyone in attendance was told there was no danger of a natural gas or any other kind of explosion.
While Constellation Energy remains interested in scooping up generation assets in deregulated markets, the company’s cautious outlook on how quickly spark spreads and power prices will rebound in the U.S. is tempering enthusiasm for power plant acquisitions, E. Follin Smith, Constellation’s chief financial officer, said last Wednesday.
As tempers continued to flare between utilities, power marketers and qualifying facility generators in California, the Federal Energy Regulatory Commission issued a series of orders in an attempt to douse some of the long-simmering disputes in the state’s crippled wholesale power markets. California power marketers and suppliers prevailed on the key creditworthy and so-called “chargeback” issues, while the California Power Exchange (Cal-PX), the California Independent System Operator (Cal-ISO) and the state’s two troubled investor-owned utilities suffered significant blows.
As tempers continue to get shorter in the midst of California’senergy predicament, the state’s two major investor-owned utilitiesbutted heads this week on a natural gas issue created as anoffshoot of the persistent electricity woes in the state. Itinvolves Pacific Gas and Electric Co.’s emergency filing to stateregulators Jan. 18 asking for Southern California Gas Co. to giveit some supplies in the face of its looming shortages, promptingSoCalGas to protest the request.
It has been a good spring for bull traders at Nymex. SinceFebruary 26, the now-spot June contract has rallied nearly 70 centsto trade as high as $2.40 last week. But just as constructivetechnicals and low storage injection figures seemed to point tocontinued strength, the market spiraled lower Thursday and Friday.And while long liquidation spurred by the bearish one-two combo ofnuclear units coming back on line and moderating temperaturesacross the country were as good as reasons as any for the marketturning lower, traders remain divided as to the price directionheading into the summer. June finished the week mixed at $2.273, 2pennies above its close from the prior Friday, but 2.2 cents lowerfor the day.