From info@enercast.com Sat Nov 15 11:46:31 2003 Date: Wed, 12 Nov 2003 15:40:26 -0700 From: Enercast.comTo: cestvr@ces.iisc.ernet.in Subject: Enercast.com daily newsletter for Nov 12, 2003 [ The following text is in the "iso-8859-1" character set. ] [ Your display is set for the "US-ASCII" character set. ] [ Some characters may be displayed incorrectly. ] Enercast.com -- at the moment it matters. News - Commentaries - Market Pricing - EIA Forecast Tool - Weather Updates - Weather Derivatives ******************************************************** Welcome to our daily summary of industry news and market updates. To unsubscribe, simply reply to this e-mail with UNSUBSCRIBE in the subject line or edit your Enercast.com profile. ******************************************************** Wednesday, November 12th, 2003 Nymex Close * Last Price: 4.460 * Open Price: 4.459 * Day High: 4.510 * Day Low: 4.400 EIA Storage * EIA report for week ending 10/31/03 : 3155 Bcf * EIA weekly change: 34 Bcf * Enercast prediction for week ending 11/07/03 : 3198 Bcf * Enercast predicted weekly change: 17 Bcf Weather Stories * Wednesday Weather Update (11/12 Enercast.com) Warmer temperatures continue across the Eastern US today before cold air barrels back across the region tonight and Thursday, remaining entrenched across the East through the weekend. Below normal temperatures return to the plains today as cold air dives southeast through the central Great Lakes and Mid Mississippi valley this afternoon. Moderating temperatures return to the plains and Great Lakes over the weekend. Temperatures remain seasonable across much of the west through late week. Wet weather spreads inland across the Southwest tomorrow, bringing drought relief to the Southern Rockies, and progresses to the Southern Plains by the weekend. Cool, unsettled weather returns to the Pacific Northwest by the weekend. Forecast & Analysis * Frigid Weather Spurs Pennsylvania Demand for Home Heating Fu Frigid temperatures over the weekend have warmed up telephone lines of regional fuel suppliers such as Shipley Energy and Kuhn Bros. Oil Service with requests to keep heating fuel flowing. * Gas consumers look to cheaper imports Nov 12, 2003 (New World Publishing via COMTEX) -- Six major Hungarian companies have declared they will buy natural gas from abroad from January, Ferenc J. Horvath newly appointed chairman of Hungarian Energy Office (MEH) said. * Alaska Gas Authority Receives Funding for Studies Nov. 10--More money is being given, but in dribbles, to the new Alaska Natural Gas Development Authority. The state Legislature's Budget and Audit Committee approved a $200,000 appropriation to the gas authority at its Oct. Top Stories * Reliant Receives Price Reporting Request 11/12 -- WASHINGTON - The U.S. attorney for the Southern District of Texas has asked energy concern Reliant Resources Inc. for information about price reporting, according to a regulatory filing Wednesday. * Exelon Agrees to Buy IP BLOOMINGTON -- Despite Monday's announcement that it had reached an agreement to buy Illinois Power from Dynegy Inc., Chicago-based Exelon Corp. said the deal is dependent on legislation allowing the Illinois Commerce Commission to consider a rate increase beginning in 2007. * Mexico's Pemex said to have no bid for Ricos block MEXICO CITY, Nov 12 (Reuters) - Mexico's state oil monopoly Pemex on Wednesday received no bids for the Ricos natural gas block, failing for a second week to attract interest to develop some of its natural gas reserves in northern Mexico, a source close to the deal told Reuters. * Mexican industry calls for speedy electricity reform Mexico, Nov 10, 2003 (El Economista/SABI via COMTEX) -- The Mexican industrial sector has called for Congress to approve reforms to the electricity sector during its current session as a first step to fundamental change in the way energy is organized in the country, as the costs of sustaining the electrical system, as well as the demand for natural gas in the medium term have risen to more than US$60bil. * Witness names ex-Dynegy CFO as conspirator in Alpha HOUSTON, Nov 11 (Reuters) - Dynegy Inc.'s chief financial officer and seven others conspired in 2001 to disguise a $300 million loan as cash flow, a former Dynegy tax executive testified on Tuesday in the fraud trial of his one-time deputy. Financial * NYMEX Hub gas ends lower, longs bail ahead of EIAs NEW YORK, Nov 12 (Reuters) - NYMEX Henry Hub gas futures ended lower on Wednesday, pressured by a steady stream of long liquidation and technical selling after an early burst of short covering quickly ran out of steam, trade sources said. * PG&E third-quarter profit rises 9 percent NEW YORK, Nov 12 (Reuters) - PG&E Corp. said on Wednesday its third-quarter profit rose 9 percent as the company prepares for its Pacific Gas & Electric utility to emerge from bankruptcy. * NYMEX Hub gas slips early as short covering fades NEW YORK, Nov 12 (Reuters) - NYMEX Henry Hub gas futures tumbled sharply early Wednesday, hit by a flood of long liquidation after some early, follow-through technical buying and short covering quickly ran out of steam, trade sources said! . * NUI posts wider quarterly loss, reviews dividend NEW YORK, Nov 12 (Reuters) - Natural gas distributor NUI Corp. , which is up for sale, on Wednesday posted a wider fourth-quarter loss and said it was reviewing its dividend policy. * NYMEX Hub gas called flat to higher th firm cash NEW YORK, Nov 12 (Reuters) - NYMEX Henry Hub gas futures were expected to open steady to higher Wednesday, underpinned by stable over-the-counter (OTC) quotes and a strong cash ahead of colder weather forecast for later this week, trade sources said. * FPL revises up third-quarter earnings NEW YORK, Nov 12 (Reuters) - FPL Group Inc. , which owns the Florida Power & Light utility, on Wednesday revised its previously reported third-quarter earnings upward by 5 cents a share, citing the reversal of an accounting t! reatment. * NYMEX crude to edge higher as market awaits data NEW YORK, Nov 12 (Reuters) - NYMEX crude oil futures were expected to open higher on Wednesday as traders braced for signs of more refinery glitches and the latest U.S.stocks data, due out Thursday and expected to show a modest products rise. * Semco posts wider loss, to sell construction unit NEW YORK, Nov 12 (Reuters) - Natural gas distributor SEMCO Energy Inc. on Wednesday posted a wider third-quarter loss from writedowns at its pipeline construction services unit, while revenue rose slightly as a result of its distribution business. * OGE Energy posts higher third-quarter net income NEW YORK, Nov 12 (Reuters) - OGE Energy Corp. , parent of the Oklahoma Gas and Electric Co. utility, said Wednesday its third-quarter net income ros! e modestly as its gas pipeline business posted improved results. Releases * Raising the Stakes in Gas Search OIL EXPLORER Indo-Pacific Energy is expected to list on the stock exchange in the next few weeks, providing investors with the opportunity for a slice of the action as the hunt hots up for more natural gas to avoid the nation's looming energy crisis. * Williams Names Travis Campbell as Treasurer TULSA, Okla., Nov 12, 2003 /PRNewswire-FirstCall via Comtex/ -- Williams (NYSE: WMB) today named Travis Campbell, its vice president of investor relations and corporate communications, to serve in the added role of treasurer. * Avista Corp. Appoints Michael L. Noel to Board Position-Exec SPOKANE, Wash., Nov 12, 2003 /PRNewswire-FirstCall via Comtex/ -- Avista Corp. (NYSE: AVA) has announced the appointment of Michael L. Noel of Prescott, Ariz., to the company's board of directors, effective Jan. 1, 2004. He will stand for election to the board by a vote of company shareholders at Avista Corp.'s annual meeting in May 2004. Recent Commentaries * Three Companies Set to Capitalize on LNG Growth By Ben Smith Natural Gas market conditions are causing us to start looking further away to help supply the energy hungry U.S. Fed chairman Alan Greenspan said back in early July, "Today's tight natural gas markets have been a long time coming and futures prices suggest that we are not apt to return to earlier periods of relative abundance and low prices anytime soon." Importing natural gas from energy rich areas seems like the most promising answer to shortfalls in supply. * Implement That Energy Project Now By John P. Perkins By now, nearly every medium to large company maintains an energy plan that is continuously updated. Many companies have included an energy project as part of their long-range energy planning. They are then left with the question of when to implement such a project. The outcom! e of their decision can be analogous to a well-known childrens' story. There are those companies that will move too soon, those which will move too late and those whose timing will be just right. The time to move may be now.