Took

Bulls and bears took turns yesterday in the gas pit at Nymex as light buying pressure throughout the morning morphed subtly into selling interest in the afternoon. As a result, prices did not stray very far from center with most months able to eke out minimal advances for the session. The July contract finished at $3.747, which was 1.3 cents higher on the day.

The Nova Scotia government took a page from the U.S. notebook last Thursday, hosting a forum that brought together industry, consumer and international expertise — including the U.S. ambassador — in a process to develop a secure energy strategy. The forum, which soon will lead to a formal policy, also set a precedent as the northern Canadian province aggressively pursues expansion of its vast resources.

With little in the way of fresh fundamental signals from which to take a cue, natural gas futures took the path of least resistance lower Friday as traders pressured the market back below key support at $4.00. The July contract led the way, tumbling 5.9 cents to close at $3.979, just a tick off its $3.98 opening trade for the week. Estimated volume was extremely light, with just 39,677 contracts changing hands.

The Nova Scotia government took a page from the U.S. notebook Thursday, hosting a forum that brought together industry, consumer and international expertise — including the U.S. ambassador — in a process to develop a secure energy strategy. The forum, which soon will lead to a formal policy, also set a precedent as the northern Canadian province aggressively pursues expansion of its vast resources.

It took 10 years, but a recent order by the Virginia Corporation Commission (VCC) finally allows American Electric Power to move forward with the construction of a 765,000-volt transmission line. The state commission determined that immediate action was needed in order to reinforce the transmission system in southwestern Virginia.

It took 10 years, but a recent order by the Virginia Corporation Commission (VCC) finally allows American Electric Power to move forward with the construction of a 765,000-volt transmission line. The state commission determined that immediate action was needed in order to reinforce the transmission system in southwestern Virginia.

Capping off a week in which California took center stage, the state-wide independent system operator (Cal-ISO), Southern California Edison and San Diego Gas and Electric (SDG&E) Friday filed — under protest — their plan to form a single-state regional transmission organization (RTO).

The Ninth Circuit Court of Appeals in San Francisco took little time in rejecting an emergency request by the California legislature to force FERC to cap wholesale energy prices. The request was filed last Tuesday and tossed out by Friday. The panel ruled that the legislature did not demonstrate that the case warranted emergency action.

FERC “took a large step” forward last Wednesday by approving the much-anticipated market monitoring and mitigation plan for the out-of-control California energy market, but it didn’t go far enough, according to officials with Williams Companies, the New York Public Service Commission and Dynegy Corp. California lawmakers, however, were far more blunt in their assessments.