Wholesale

A lower utility margin due to warmer weather and customer conservation because of high wholesale natural gas prices led to a 4% decline in Charlotte, NC-based Piedmont Natural Gas’ second quarter 2005 net income. Net income slipped to $39.6 million, or $0.52/share, from $41.3 million. or $0.54/share, posted for the same period in 2004.

A lower utility margin due to warmer weather and customer conservation because of high wholesale natural gas prices led to a 4% decline in Charlotte, NC-based Piedmont Natural Gas’ second quarter 2005 net income. Net income slipped to $39.6 million, or $0.52/share, from $41.3 million. or $0.54/share, posted for the same period in 2004.

Although its wholesale natural gas costs have remained relatively flat at the $6.50/dth level, NorthWestern Energy on Thursday filed with Montana state regulators for an annual retail gas utility rate adjustment that could increase charges by about 12%. The hike is due largely to the elimination of a rate credit that retail customers have been receiving, the South Dakota-based utility holding company said.

Given current global wholesale energy price volatility, Japan is avoiding traditional 20-year contracts for liquefied natural gas (LNG) imports, and that likely will set the model for the rest of the world since Japan is such a dominant importer of the fuel, according to Tom Giles, COO for Mitsubishi’s U.S.-based Sound Energy Solutions (SES).

Given current global wholesale energy price volatility, Japan is avoiding traditional 20-year contracts for liquefied natural gas (LNG) imports, and that likely will set the model for the rest of the world since Japan is such a dominant importer of the fuel, according to Tom Giles, COO for Mitsubishi’s U.S.-based Sound Energy Solutions (SES).

Unlike before, during and after the wholesale energy market implosion in the West when California energy stakeholders were out of sync with state policymakers, the state’s chief regulator this year sees a consensus forming through increased collaboration among all of the key players at both the federal and state levels.

Following strong performance in energy trading and wholesale power generation, San Diego-based Sempra Energy Wednesday reported 38% and 48% increases in net income for 2004 overall and for the fourth quarter last year, respectively.

Following strong performance in energy trading and wholesale power generation, San Diego-based Sempra Energy Wednesday reported 38% and 48% increases in net income for 2004 overall and for the fourth quarter last year, respectively.

Despite the warmer weather in key consuming regions and the recent drop in wholesale prices, the Energy Information Administration is still projecting that consumers will pay substantially more this winter for their heating needs than they did last winter. In fact, expected increases in winter expenditures for natural gas-heated households were raised slightly to 10% compared to projections in last month’s outlook.