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Despite high natural gas prices and reports of flat production throughout North America over the last five years, gas-fired electric generation in operation, construction or development reached a new all-time record in the month of March, according to a new report by Energy Ventures Analysis Inc (EVA). With the help of new projects announced within the last three months, gas-fired generation topped 305,000 MW.

Despite high natural gas prices and reports of flat productionthroughout North America over the last five years, gas-firedelectric generation in operation, construction or developmentreached a new all-time record in the month of March, according to anew report by Energy Ventures Analysis Inc (EVA). With the help ofnew projects announced within the last three months, gas-firedgeneration topped 305,000 MW.

Mergers and acquisitions continue to thrive in the energy industry and will continue throughout the rest of the year, according to Merrill Lynch’s recently released Natural Gas Weekly Perspective for the week ending March 16. The trend is highlighted by the industry’s most recent major deal, Enbridge’s purchase of Midcoast Energy last week for $600 million (see NGI, March 19).

Mergers and acquisitions continue to thrive in the energyindustry and will continue throughout the rest of the year,according to Merrill Lynch’s recently released Natural Gas WeeklyPerspective for the week ending March 16. The trend is highlightedby the industry’s most recent major deal, Enbridge’s purchase ofMidcoast Energy last week for $600 million (see Daily GPI, March19).

After flirting with key support at $5.00 throughout much of thesession, natural gas futures broke lower late yesterday after aprice-constructive storage withdrawal report failed to attract therequisite buying activity. The prompt April contract finished 9.5cents lower at $4.911. However, the real story was the out-months,many of which suffered double-digit setbacks. The 12-month stripclosed 10.3 cents lower at $5.091.

The White House remained mum throughout last week on its finalchoice for FERC chairman, but sources indicate that President Bushcontinues to champion Texas regulator Pat Wood III over currentFERC Chairman Curt Hebert Jr. for the job despite mounting pressurefrom Capitol Hill to keep Hebert.

The White House has remained mum throughout the week on itsfinal choice for FERC chairman, but sources indicate that PresidentBush continues to champion Texas regulator Pat Wood III overcurrent FERC Chairman Curt Hebert Jr. for the job despite mountingpressure from Capitol Hill to keep Hebert.

Citing forecasts of “an extended period of steady, cold weatherthroughout the pipeline system,” Texas Eastern said it is imposingseveral restrictions this morning to preserve linepack and systemreliability. Until further notice no forward-haul mainline IT-1volumes will be delivered to the market area; no due-shipperimbalances are available; TABS-1 shippers are required to be inbalance daily; and all non-interstate Operational BalancingAgreements upstream of the Berne (OH) Compressor Station have beensuspended. Affiliate Algonquin is restricting the taking of anydue-shipper imbalances. Both pipes said they will consider thepotential for secondary restrictions going into the holiday weekendas conditions warrant.

Showing some tiredness with the continuing round of “emergency”declarations swirling throughout California’s energy markets, stateregulators Thursday refused to consider an eleventh-hour request bySouthern California Edison Co. to modify a legislatively-setpricing formula for renewable energy and qualifying facilities (QF)from which it buys power in lieu of the current unprecedentednatural gas prices. The payment formula is based on price indicesfor gas at the California-Arizona border, which saw spot prices atthe $36 to $41/Mcf level earlier this week.