For those seeking to sell energy in a competitive environment,it’s a happy coincidence widespread consumer use of the Internethas come about at the same time deregulation of gas and powerunfolds. Several Internet sites have been established to simplifyshopping for consumers and reduce the cost to marketers of reachingsales prospects.
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Weather, Screen Heat Up June and July Quotes
Those bemoaning a relative lack of volatility in much of thecash market since early spring must have enjoyed Tuesday. Thingswere very strong-“to put it mildly,” as a marketer said-in tradingTuesday for both the month of July and the last day of June. It wasobvious to everyone what was heating up prices: heat now andforecasts of more heat later. A strong showing by the August HenryHub futures contract lent further support to cash.
AGA Would Formalize Capacity Turnback Rules
The American Gas Association has added its voice to those whowould protect the pocketbooks of current customers and requiresponsors of new pipeline construction to bear the risk of theprojects.
AGA Would Formalize Capacity Turnback Rules
The American Gas Association has added its voice to those whowould protect the pocketbooks of current customers and requiresponsors of new pipeline construction to bear the risk of theprojects.
KN Targeting IL, WI With New Project
Undeterred by those who have gone before it and failed, KNEnergy jumped into the fray with a pipeline project to servenorthern Illinois and southern Wisconsin.
Mild Softness Surprises Those Expecting Bigger Drops
The cash market was mostly flat to a few cents softer Friday,surprising more than one source who had expected bigger declinesbased on the usual slump in weekend demand. Apparently a new winterstorm revving up in the Midwest had traders nervous about going tooshort. Also, some well freeze-offs were reported affecting allpipes in Oklahoma to small degrees. A Tulsa marketer said mostpeople were going home early after icy roads caused the schools toclose.
Chevron Cuts Spending, Expenses
In a move similar to those of its peers, Chevron Corp. announcedit would cut expenses by $500 million next year, including someunspecified staff reductions, and spend about $5.1 billion, 8% lessthan was spent in 1998. Cuts in 1999 capital spending will beaccomplished primarily in the company’s mature North AmericanE&P business, as well as in refining and marketing and inchemicals.
Ratings Agencies Hit CNG, MCN and Questar
For those interested in the ratings game, this past week was nota good one for natural gas companies as Moody’s Investors Servicedowngraded one natural gas company and Standard & Poor’s puttwo others on CreditWatch with negative implications. All threeremain in the rarefied upper ranks by virtue of the guaranteedreturns that come with their utility operations. But it’s theirincreasing unregulated business that’s making the ratings agenciesnervous.
Screen Drop Too Late to Stop Heat-Driven Gains
At first glance Monday was one of those not-too-often cases inwhich “following the screen” did not apply to the cash market. Butas a Northeastern buyer pointed out, an initially flat futuresshowing allowed many physical-gas markets to post gains of a nickelor so, and by the time the screen got around to diving by about 7cents, it was too late to affect a lot of cash deals. But late cashtrading did reflect the weakness in the Nymex pit, said a producerwho found late Henry Hub and Katy sales down 3-4 cents fromearly-morning levels.
Breathitt Sees More Competitive Short-Term Market
Standardization of short-term transportation services andmarket-based pricing for those services are front-burner issues atthe Federal Energy Regulatory Commission, new Commissioner Linda K.Breathitt told Washington attorneys Thursday.