As a footnote to the wide-ranging issues emerging fromCalifornia’s electricity wars this summer, the City of Los AngelesDepartment of Water and Power (LADWP) Tuesday paid a record $14million penalty to regional air quality regulators as a result ofrunning its older, more polluting LA Basin generating plantsfull-out this summer. The heavy penalty points up an increasinglytenuous situation for merchant generators who are running out ofways to avoid exceeding their plants’ air emission limits.
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Shippers Protest KMI’s Order 637 Tariff Changes
Kinder Morgan Interstate Gas Transmission (KMI) has attempted anend run around FERC’s Order 637, filing wide-ranging operationaland rate changes early under expedited tariff procedures to avoidthe more rigorous review in store for compliance filings, accordingto customer protests.
June 22, 2000
Oneok Buys Kinder Morgan Midcontinent Assets
Oneok Inc. closed on the acquisition of a wide range ofMidcontinent gas assets from Kinder Morgan Inc. (KMI) lastWednesday after FERC ruled that the operations included in the salewere exempt from the terms of a recent consent agreement, whichimposed a number of restrictions on KMI companies for affiliateviolations [IN00-1]. This transaction, together with Oneok’spurchase of midstream assets from Dynegy Inc. last month, makes thecompany one of the biggest players in the Midcontinent gas market.
April 10, 2000
GISB Meeting Re-scheduled for Feb. 14
An industry-wide meeting to discuss whether the Gas IndustryStandards Board (GISB) should develop standards for retail andwholesale power, as well as retail natural gas, has beenre-scheduled for Feb. 14 in Washington D.C.
February 4, 2000
Futures Push Higher as Traders Play it Safe
After trading within a wide, 20-cent trading range Friday,natural gas futures were noticeably quiet yesterday as little inthe way of either fundamental or technical information was seen topropel prices in either direction.
January 25, 2000
Transportation Notes
PG&E called a system-wide OFO with a 7% tolerance for gasday Saturday, Nov. 6, due to high inventory and forecasted highinventory for Sunday and today as well. The OFO called was Stage Iwith a $1.00/Dth noncompliance charge.
November 8, 1999
Bulls Bide Their Time Ahead of Storage Data
After etching out a wide, 20-cent trading range Monday andTuesday, natural gas futures traded sideways yesterday in a rare,low volume and low volatility trading session. Little in the way offresh news was seen to nudge prices in either direction, leavingthe November contract to slip 2.9-cents to $2.978 in pre-AGA profittaking. Estimated volume was an extremely-light 53,060 contracts.
October 21, 1999
Futures Finish Lower Following Wide Price Swings
Adding to late session advances made in both regular and Accesstrading sessions Tuesday, natural gas futures pressed higheryesterday morning as local traders bid the market to fresh highs.However, once above the $3.10 level, the buying dried up openingthe opportunity for an aggressive sell-off that ushered the promptmonth lower in the afternoon. The September contract slipped 2.9cents to $3.03 after notching a $2.995 low.
August 26, 1999
Transportation Note
PG&E declared a system-wide OFO with a 7% tolerance with aStage I non-compliance charge of $1.00/Dth due to high inventoryfor the weekend.
August 9, 1999
Transportation Notes
PG&E declared a system-wide OFO with a 3% tolerance with aStage I non-compliance charge of $1.00/Dth due to high inventory.
August 4, 1999
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