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

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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.