After having one of the more bullish gas price forecasts on Wall Street, Raymond James is changing its tune because there’s a good chance this winter will be one of the warmest in history. The firm said Monday it was lowering its Henry Hub price forecast for the first quarter to $2.30 from $2.75 and its forecast for the second quarter to $2.80 from $3.25. Its forecast for the year was dropped to $3.25 from $3.50, but the firm expects a strong recovery in the last two quarters of 2002.
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FPL Plans 1,900 MW of Gas-Fired, Combined-Cycle Power
Following through on its long-term objective of replacing substantial oil-fired generation with natural gas combined cycle power, Florida Power & Light outlined a new project to meet customer growth and increased use of electricity by expanding at its existing power plant sites in Martin and Manatee counties. The proposal would add 1,900 MW of new, cleaner-burning natural gas-fired combined-cycle generation by mid-2005 and follows similar actions at its Fort Myers and Sanford power facilities in 2000 and 2001.
Moderate Drops Appear to Reflect Overall Market Pattern
Cash prices Monday set a pattern that few expect to be altered by much in the near term: a gradual downtrend of daily declines of about a dime or less at most points. One marketer said it was remarkable how uniform Monday’s price movement was from West to East, with virtually all markets falling nearly in lockstep close to either side of a dime.
Down Trend Resumes as January Dumps 16 Cents
The apparent short-term correction in this bear market may have come to an end Monday as the January contract busted through and closed below Friday’s low, ending the day down a hefty 16 cents to $2.686/MMBtu. With very little in the way of bullish fundamentals available, other than some slightly chilly weather in northeastern markets, some observers see the potential for more sharp declines as the contract makes its way toward expiration next week.
OMB’s Daniels: Energy Independence More Important than Ever
The United States needs an integrated, aggressive, activist, long-term energy policy and the country needs it now, according to Mitch Daniels, director of the Office of Management and Budget (OMB). The nation needs it “although there still seems to be some people who do not have their eye on that ball, or even those who are taking an obstruction approach,” he said.
OMB’s Daniels: Energy Independence More Important than Ever
The United States needs an integrated, aggressive, activist, long-term energy policy and the country needs it now, according to Mitch Daniels, director of the Office of Management and Budget (OMB). The nation needs it “although there still seems to be some people who do not have their eye on that ball, or even those who are taking an obstruction approach,” he said.
NewPower Named Interim Pooler in GA
The NewPower Co. has been designated sole interim pooler for the Atlanta Gas Light (AGL) market by the Georgia Public Service Commission (PSC) for a one-year term starting in July. The interim pooler is a safeguard against bankruptcies for the 1.3 million gas customers in AGL’s territory the state, which has seen several marketers fail since AGL exited the gas merchant business two years ago. NewPower won the position over several other suppliers, including Infinite Energy and Georgia Natural Gas, after meeting certain criteria of the Public Service Commission.
GOP Leader: Price Caps Are Like ‘Steroids’
Price caps are “much like steroids — they make you look good in the short term, but they kill you in the long run,” warned Rep. J.C. Watts of Oklahoma and chairman of the House Republican Conference during the Natural Gas Roundtable last week.
GOP Leader: Price Caps Are Like ‘Steroids’
Price caps are “much like steroids — they make you look good in the short term, but they kill you in the long run,” warned Rep. J.C. Watts of Oklahoma and chairman of the House Republican Conference during the Natural Gas Roundtable yesterday.
FGT Signs Contract for Unrevealed Phase VI Expansion
Florida Gas Transmission Co. (FGT) reported that it has entered into a long-term firm transportation agreement with the Orlando Utilities Commission (OUC) to deliver gas to the Curtis H. Stanton Energy Center located in Orange County near Orlando, FL from its latest 2003 mainline expansion project (tentatively referred to as Phase VI), to be revealed during the third quarter 2001.