From info@enercast.com Sat Nov 15 11:46:31 2003
Date: Wed, 12 Nov 2003 15:40:26 -0700
From: Enercast.com
To: 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.