weather

Based on revised weather and demand forecasts received early Monday morning, Sonat issued an OFO Type 3 for eight market-area groups on its system, effective today until further notice. Penalties of $15/Dth apply to any shipper whose deliveries exceed 102% of their daily entitlement at any delivery point within the affected groups. Sonat also will be allocating/limiting IT in three other market-area groups starting today until further notice.

Mild weather seen in the Southeast and a softer U.S. economy were not enough to trip up Southern Co.’s 2001 earnings results as several factors, including continued customer growth and cost controls, helped the utility giant post earnings for the year of $1.12 billion, or $1.62 per share, compared with reported earnings of $994 million, or $1.52 per share, in 2000.

Citing the current weather forecast and projected system demand, Sonat notified shippers Monday that eight market-area groups (Birmingham Group, South Main Zone 2, Atlanta Group, South Main Zone 3, East of Wrens, South Georgia-Lee County, Brunswick Group and Savannah Group) will be subject to an OFO Type 3 effective with the start of today’s gas day (Wednesday) until further notice. Concurrent with the OFO, Sonat also will be allocating/limiting interruptible capacity in the Chattanooga Group, East Tennessee Group and North Alabama Group.

Based on cold weather forecasts and projected demand, Sonat issued an OFO Type 3 for eight market-area groups, effective Tuesday until further notice. See the bulletin board for a list of affected delivery points.

Northern Natural Gas did not extend a System Underrun Limitation notice for its market-area zones beyond Wednesday.

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.

Due to wintry weather moving in, Northern Natural Gas declared a System Overrun Limitation today for all market area zones (ABC, D and E/F).

Despite weather in the East more representative of early September than late October, natural gas prices pressed higher Monday as commercial fund buyers buoyed prices to levels not seen since late August. The November contract received the biggest boost, checking 12.6 cents higher to close at $2.807. The 12-month strip lagged slightly, notching a 8.1-cent gain to $3.171.

Saying its capacity is fully utilized, warmer weather is being experienced in the market area and overall linepack is lower, Florida Gas Transmission issued an Overage Alert Day notice Monday with 15% tolerance for negative daily imbalances.