It May Look Like Spring, But Price Slide Still Ends

Despite spring-like weather here, there and almost everywhere,this week’s price erosion came to a halt Thursday as many pointsturned in flat performances and a few managed small rallies.

February 25, 2000

Transportation Notes

Pacific Gas & Electric lifted a high-inventory OFO that hadbeen in effect for Friday only. All cold weather-related pipelineOFOs issued in the last two weeks remained in effect going into theweekend.

January 31, 2000

Transportation Notes

Reliant is under a Critical Period operational alert due tosevere weather in the system’s market area. Effective today no SBSrate schedule storage withdrawals will be allowed until furthernotice.

January 28, 2000

Transportation Notes

Tennessee reported Tuesday it had identified a minor valve leakon its 200 Line #2 near Main Line Valve 259 (West Granville, MA).Adverse weather is preventing repairs temporarily, Tennessee said,but it expects to make them Thursday. No nominations or schedulingcuts are anticipated before repairs begin, the pipeline said, butit may be required to limit meters downstream of Station 254 toprimary services for Thursday’s gas day.

January 26, 2000

Transportation Notes

Citing cold weather and operational conditions, MRT issued anOFO Wednesday. All IT and AOR (Authorized Overrun) volumes flowingnorth of the Glendale (AR) Station on the Main Line wereinterrupted. Affected customers should re-source their Main Linesupplies to the East Line or take their Main Line IT and/or AORreceipts to zero, MRT said.

January 20, 2000

Weather, Technical Factors Usher Futures Higher

Natural gas futures resumed trading Tuesday right where theyleft off last week as traders pressured the market higher in twodistinct buying surges. The first one came at 10:00 a.m. (EST),when February opened a penny above last Friday’s $2.35 high onreports of the coldest air of the season for the Northeast U.S. Thesecond wave of buying came near the close, in a local-led attemptto push the spot month above its 40-day moving average at $2.385.In the end that push was only half-successful; February was able topunch through its 40-day average, but was unable to settle aboveit. The contract closed up 6.1 cents at $2.383 amid light volume ofjust 43,581.

January 19, 2000

Transportation Notes

Texas Eastern (Tetco) said Friday its delivery pressures haddropped below contractual levels due to cold weather and highmarket-area takes. Thus it issued an OFO, effective at 1 p.m. CTthat afternoon, requiring that all deliveries in its M-3 zone underall rate schedules be made at a uniform hourly rate. All M-3Operational Balancing Agreements were suspended for purposes ofhourly allocations only during the OFO period, the pipeline said.Penalties for non-compliance with the OFO were $25/dth. However,late Friday afternoon Tetco said the OFO was being suspended at 9a.m. Saturday because of forecasts of a “slight” warming trend.

January 18, 2000

Transportation Notes

MRT issued an OFO Tuesday due to anticipated cold weather andoperational conditions; the order will remain in effect today anduntil further notice. It is interrupting all IT volumes andAuthorized Overrun gas flowing on the mainline north of theGlendale, AR, Station. MRT will not allow underdelivery of gasduring this time but will continue to accept positive imbalancenominations.

January 5, 2000

Transportation Notes

Based on weather forecasts and projected demand, Sonat isimplementing an OFO Type 3 today for seven system groups:Birmingham Group, South Main Zone 2, Atlanta Group, South Main Zone3, East of Wrens, Brunswick Line and Savannah Line.

December 28, 1999

Transportation Notes

Based on forecasts of warmer weather in Wisconsin and its projection of nominated receipts at the Marshfield, WI interconnect with Viking, ANR withdrew Thursday the Marshfield OFO that had been in effect since Tuesday (see Daily GPI, Dec. 21).

December 27, 1999