Throw

Even with IDACORP’s energy marketing unit reeling from lower volatility and reduced pricing spreads out West, an executive with the company last Tuesday said the company is not ready to pull the plug on its trading operations, noting that the company has carved out a “unique position” in the Western power markets.

House Republican energy leaders have deep-sixed their proposed legislation to provide emergency relief to California and other western energy markets, insisting that Democrats and Republicans are too far apart on the issue of whether price limits on wholesale power should be included.

After marketing natural gas to Georgia customers for a littleless than a year, DukeSolutions, a unit of Duke Energy, has decidedto throw in the towel. The marketer which only has firm contractswith 16 customers on the Atlanta Gas Light system, filed a petitionwith the Georgia Public Service Commission (GPSC) to cancel its”Certificate of Authority” to provide natural gas marketingservices in Georgia.

What a difference a week can make. Bull traders, nearly ready tothrow in the towel a week ago, have become “cautiously optimistic”higher prices are in their future. And they have good reason tofeel that way because the market entertained a flood of positivenews last week, which gave bulls and bears alike little choice butto bid the market higher. The April contract broke above the 40-daymoving average at $1.80 on Friday and was propelled 5 cents higherby speculative fund buying to finish the day up 9.8 cents at$1.853. Volume was a heavy 108,348. For the week, April gained 22.5cents.