Warm

Looking at the weather scenario following what has been a difficult hurricane season, Andover, MA-based WSI Corp. said it expects the November-December period to be warmer-than-normal for a majority of the United States.

Florida Gas Transmission, which had canceled an Overage Alert Day notice Friday while warning that forecasts of continued warm weather in Florida made its return possible, had a new OAD in place Tuesday with 25% tolerance for negative daily imbalances.

Chicago-based Peoples Energy said Wednesday it still expects to reach its profit target this year, but second quarter earnings will be down 15-20% from a year ago. Analysts had been forecasting a 10% decline in quarterly earnings.

Without an El Nino or La Nina in place this spring, National Oceanic and Atmospheric Administration (NOAA) forecasters expect “a typical level of springtime variability in temperature and precipitation to occur in many areas of the nation,” said NOAA Administrator Conrad C. Lautenbacher. However, the summer is expected to bring some above normal temperatures across the southern third of the nation.

For the second straight session, natural gas futures gapped lower at the opening bell. But in contrast to Monday’s session-long price retreat, the market rebounded Tuesday, pumping life into bulls who are suffering through some mild winter temperatures. The January contract finished at $6.143, down 18.1 cents for the session, but more than 20 cents above its low for the day.

While it appears that the East Coast can continue to enjoy warmer than normal temperatures through the fall and early winter, WSI Corp. said colder temperatures are set to move into the Northwest quarter of the United States.

While it appears that the East Coast can continue to enjoy warmer than normal temperatures through the fall and early winter, WSI Corp. said colder temperatures are set to move into the Northwest quarter of the United States.

Warm weather and continued strong demand from gas-fired generators filling in for downed nukes and coal units took most of the blame for cash price increases of 5 to 10 cents at most locations and stronger Northeast and Midwest basis on Tuesday. Sable Offshore Energy Project supply remained constrained due to ongoing repairs on a compressor at the Goldboro Plant in Nova Scotia, which held back about 23% (up to 105 MMcf/d) of Maritimes & Northeast volumes.

Citing forecasts of continued warm weather in Florida and heavy use of its capacity, Florida Gas Transmission issued an Overage Alert Day notice Friday for customers in its market area. The tolerance for negative daily imbalances was 20%.