The sell-off continued Friday at Nymex as traders liquidatedlong positions ahead of the weekend in response to some blaringtechnical factors and in anticipation of moderating temperaturesthis week in key gas consuming regions. The September contractprobed lower to finish down 2.6 cents at $2.543 Friday. Estimatedvolume of 78,445 was low relative to the preceding five-straight,100,000-plus trading sessions.
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FGT Takes Lead in Race To Serve Generation Market
Florida Gas Transmission (FGT) pulled ahead in the crowded race to serve the expanding gas-fired power generation market in the Florida peninsula when FERC last week issued a favorable preliminary determination on the non-environmental aspects of its Phase IV mainline expansion project.
Internet Problems Disrupt Altrade Gas Trading
An IBM Internet outage that affected many western and Canadiancustomers last week temporarily cut off access to Altrade’selectronic gas trading system Thursday afternoon costing thecompany and its customers at least 5 Bcf/d in trading volume duringa peak bidweek trading period.
FERC Tries to Wean AGL Off of Waivers
Fearing the potential side effects of waivers on the interstatemarket, FERC last week decided to give Atlanta Gas Light (AGL) onlya short-term extension of its waivers to Commission regulations topreserve the “status quo” of retail gas unbundling in Georgia whileit explores other non-waiver solutions for utilities.
PG&E Grabs Southern’s Boren to Lead New Group
PG&E Corp. lured in Thomas Boren, a former top executive atSouthern Co., to lead its PG&E National Energy Group, lastweek, only a few weeks after Boren had announced his retirement atSouthern. Boren, 50, will be president and CEO of the PG&Edivision, which includes PG&E Gas Transmission, PG&E PowerTrading, and PG&E Energy Services.
AGL Income Hit by Sales Customer Exodus
While AGL Resources reported markedly improved results for itsthird fiscal quarter ended June 30, the company said returns werehurt by costs due to the rapid pace at which Atlanta Gas Lightcustomers have chosen alternate suppliers.
AGL Income Hit by Sales Customer Exodus
While AGL Resources reported markedly improved results for itsthird fiscal quarter ended June 30, the company said returns werehurt by costs due to the rapid pace at which Atlanta Gas LightCustomers have chosen alternate suppliers.
ScottishPower, PacifiCorp Merger Nears Finish Line
ScottishPower PLC and PacifiCorp announced they have brokered asettlement in principle with the staff of the Oregon Public UtilityCommission (OPUC) that essentially clears the way for the firstacquisition by a foreign company of a U.S. power utility.
INGAA Seeks Rehearing of Sea Robin Remand
A major pipeline group last week sought rehearing of FERC’sremand decision on Sea Robin Pipeline on the grounds that it failedto include the “behind-the-plant” factor when determining thejurisdictional status of the offshore gas pipeline.
Northwest Territories, TransCanada Agree on Pipe
TransCanada PipeLines has announced an agreement with the Government of the Northwest Territories (GNWT) to build a direct connection between the rapidly developing reserves in the southern part of the territories and the TransCanada mainline.