Wait

Warren Buffett will wait until Congress repeals the Public Utility Holding Company Act of 1935 (PUHCA) and then is expected to add a few natural gas and electric utilities to his portfolio, CreditSights analysts said in a new report.

Warren Buffett will wait until Congress repeals the Public Utility Holding Company Act of 1935 (PUHCA) and then is expected to add a few natural gas and electric utilities to his portfolio, CreditSights analysts said in a new report.

The Federal Energy Regulatory Commission will issue a final report on the results of its high-profile investigation into manipulation of energy prices in western markets either by the end of the year or in mid-February 2003 at the latest, Chairman Pat Wood told energy executives Wednesday.

After nearly an eight-month wait, President Bush officially has nominated Joseph T. Kelliher to a five-year term on the Federal Energy Regulatory Commission, putting to rest persistent reports that his nomination was in jeopardy. Kelliher will replace current Commissioner Linda K. Breathitt whose term expires June 30 of this year, a White House spokeswoman said.

Despite bearish storage data and the formation of a tropical storm in the northwestern Caribbean Sea Wednesday afternoon, natural gas futures shuffled mostly sideways Thursday as neither bull nor bear was willing to propel the market very much in either direction. After being held to a relatively-tight, 15-cent trading range, the December contract finished a tenth of a cent lower at $3.29. Estimated volume was 73,349 contracts.

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.

After opening higher but failing to test resistance at $4.38, natural gas futures checked sideways yesterday as traders caught their breath after Monday’s 25-cent price-erosion. During the open-outcry session Tuesday, the prompt June contract closed at $4.279, just about equally between Monday’s $4.239 close and its $4.32 high.

A month has gone by since a special commission formed by Florida Gov. Jeb Bush recommended that the state break up its monopoly utilities and pave the way for competition in the power generation market, but still there has been no word from the legislature. There have been signs that the state senate will move much slower than previously expected on electric restructuring because of growing awareness of what can happen when power planning goes awry.