Widespread

Tropical Storm Chris, which was pointed straight at the southern end of Florida (and potentially the Gulf of Mexico production area beyond), and widespread heat kept cash quotes moving higher Tuesday at all points except a flat Iroquois Zone 2. However, the gains were diminishing in size from Monday’s spikes, and a screen dive of 63.7 cents Tuesday will put negative pressure on the market Wednesday.

Following Thursday’s state regulatory approval, Pacific Gas and Electric Co. customers will be the first in the state to have time-of-use pricing options on a widespread basis under the five-year, $1.7 billion smart metering system the utility now has the authorization to begin implementing. In contrast, Southern California Edison Co. customers will probably have to wait up to two years for similar options, but when they get them Edison hopes they will get a broader array of user-friendly options they can build onto their smart meters.

A widespread heat wave in much of the U.S and some sections of Eastern Canada kept cash prices rising at most points Monday, but there were signs that the continuation of last week’s general rally might be in its final stages. A cooldown of the East loomed on the near-term horizon, and a massive screen plunge Tuesday was considered a good indicator of falling numbers in the physical market Tuesday.

Although air conditioning load in the South will slacken Friday under a widespread set of thunderstorms and weather-related demand remains scarce elsewhere, cash prices made it a solid four-for-four days of bullish performance so far this week Thursday.

In a long-awaited decision that is likely to have widespread repercussions for liquefied natural gas (LNG) suppliers, an administrative law judge (ALJ) last Tuesday recommended that FERC approve the more conservative interchangeability standards proposed by Florida Gas Transmission (FGT) to receive Btu-rich regasified LNG in southern Florida for transportation through its 5,000-mile system.

In a decision that is likely to have widespread repercussions for liquefied natural gas (LNG) suppliers, an administrative law judge (ALJ) Tuesday recommended that FERC approve the more conservative interchangeability standards that Florida Gas Transmission (FGT) proposed to receive Btu-rich regasified LNG in southern Florida for transportation through its 5,000-mile system.

Despite the widespread destruction of Gulf of Mexico infrastructure from Hurricanes Katrina and Rita last year, the lengthy and expensive restoration process and the ongoing risks of offshore operations, deepwater exploration and development is moving full steam ahead, said Chris Oynes, Minerals Management Service (MMS) regional director for the Gulf of Mexico, in an interview with NGI.

Prices rallied at all points Wednesday from the prior day’s overall softness as widespread heating load reasserted itself as the driver of an upward-looking market. Forecasts of virtually no let-up in frigid temperatures, along with Wednesday’s screen advance of 21.1 cents, portend further cash gains Thursday.

Prices continued to pad their premiums to first-of-month indexes at virtually all points Thursday. Widespread cold and snowy weather remaining in the forecast through the weekend was supplemented by the screen’s 85.1-cent spike Wednesday as supportive factors in the cash market’s remaining on an upward trek.