Trading

Paul D. Jacob is taking over as president of Edison MissionMarketing & Trading (EMMT), a subsidiary of Edison MissionEnergy and Edison International. He succeeds Mark Maisto, whoresigned. Maisto presided over the transition following EdisonMission Energy’s acquisition of Boston-based Citizens Power lastyear. Maisto will join RockPort Partners, a Boston investment bankwhich focuses on energy and environmental technology.

Union Gas said the Dawn gas market hub in Ontario set newrecords in 2000 for the volume and number of title transfers. Thehub recorded over 2.7 Tcf of title transfers last year, more thandouble the 1999 total of 1.3 Tcf. On average about 7.6 Bcf/d of gaschanged hands up from 3.7 Bcf in 1999.

After tumbling more than a dollar in Monday’s weather-relatedsell-off, the natural gas futures market was uncharacteristicallyquiet yesterday, as light buying in the summer months led to modestgains in the prompt March contract. After two brief forays down tothe $5.62 area, the March contract shuffled higher yesterday astraders looked ahead not only to fresh storage data to be releasedthis afternoon, but also to the summer refill season. At theclosing bell, March was up 5.8 cents at $5.764.

Western Natural Gas, a Denver-based marketing company, isphasing out its retail marketing business in the face of increasingnatural gas prices and the capital requirements necessary to obtainsupplies.

Cinergy Corp. yesterday reported that its non-regulated affiliate, Cinergy Capital & Trading, is in the process of adding almost 1,000 MW of electricity to its generating portfolio in the southeastern United States through an acquisition of two of Enron North America’s power plants.

Even with December indexes hitting record heights across theboard, swing trading for the first day of the month managed toone-up the bidweek numbers. All points were priced from marginallyto substantially above index levels Thursday.

Boosted by the momentum gained through the 1980s and 1990s withgrowing regional wholesale electricity trading markets inCalifornia, New York, Pennsylvania, New Jersey, Maryland and theNew England states, more U.S. regions now are open to electricitycompetition, according to a report by the Energy InformationAdministration.

Building on a tripling of the financial contribution of itsDynegy Marketing and Trade division, Dynegy Inc. announced itsthird-quarter recurring earnings per share of $0.55 will topanalysts’ estimates of $0.50 per share.

Building on a tripling of the financial contribution of its Dynegy Marketing and Trade division, Dynegy Inc. announced its third-quarter recurring earnings per share of $0.55 will top analysts’ estimates of $0.50 per share.