Message-ID: <12650907.1075845108660.JavaMail.evans@thyme> Date: Thu, 7 Jun 2001 04:05:04 -0700 (PDT) From: enerfax1@bellsouth.net To: enerfaxweb@yahoogroups.com Subject: Enerfax Daily's free web version of gas & power prices and info Enerfax Web Version Should Appear at the Bottom of the Newsletter Cc: ed@enerfax.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable Bcc: ed@enerfax.com X-From: "Enerfax Energy News" @ENRON X-To: Enerfaxweb@yahoogroups.com X-cc: ED@ENERFAX X-bcc: X-Folder: \Donohoe, Tom\Donohoe, Tom\Inbox X-Origin: DONOHOE-T X-FileName: Donohoe, Tom.pst Due to the addition of over 50 energy news stories to Enerfax Daily, it no= ws take longer to upload to your mail.You can begin reading our text versio= n until it appears the bottom of the publication. Reply on comments of thi= s new feature. Enerfax Daily NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE Friday, June 8, 2001 No. 757 Visit our website at: http://www.enerfax.com ,=20 if you would like to receive our daily free email write Enerfax-subscribe@= egroups.com . =20 For Oil Prices & News write enerfaxgold-subscribe@egroups.com=20 or go to http://www.enerfaxgold.com=20 =20 Please view in a fixed-width font such as Courier. =20 GAS FUTURES Henry Hub 12 Month Strip 4.0102 -0.0022 =20 18 Month Strip 3.9748 -0.0009 =20 | Month | High | Low | Close | Change =20 | JUL | 3.845 | 3.748 | 3.790 | -0.011 | | AUG | 3.922 | 3.840 | 3.877 | -0.011 | | SEP | 3.950 | 3.880 | 3.921 | -0.007 | | OCT | 3.990 | 3.930 | 3.967 | -0.003 | | NOV | 4.345 | 4.115 | 4.152 | -0.001 | | DEC | 4.374 | 4.290 | 4.335 | +0.002 | | JAN | 4.451 | 4.360 | 4.405 | +0.002 =20 | FEB | 4.330 | 4.250 | 4.295 | +0.002 | | MAR | 4.160 | 4.090 | 4.130 | +0.000 | | APR | 3.810 | 3.740 | 3.780 | +0.000 | | MAY | 3.735 | 3.680 | 3.710 | +0.000 | | JUN | 3.770 | 3.720 | 3.760 | +0.000 | =20 PHYSICAL GAS PRICES | Gulf/Eastern Region | | | Agua Dulce | 3.54 | | ANR SE | 3.60 | | Carthage TG | 3.57 | | Chicago Citygate | 3.73 | | Columbia Gulf Onshore | 3.61 | | Dominion TTT South(CNG S. Point) | 3.87 | | Henry Hub | 3.69 | | Houston Ship Channel | 3.67 | | Katy Hub | 3.64 | | NGPL - Midcontinent | 3.52 | | NGPL STX | 3.56 | | NGPL TX/OK | 3.58 | | Niagara | 3.78 | | Sonat Tier 1 | 3.58 | | TCO IPP Pool | 3.82 | | Tetco ELa | 3.59 | | Tetco M-3 | 3.96 | | Tetco STX | 3.50 | | TGP Zone 0 | 3.53 | | TGP Zone 1 | 3.61 | | TGT Zone SL | 3.62 | | New York Citygate | 3.98 | | Transco Station 65 | 3.71 | | Transco Zone 6 (NY) | 3.98 | | Trunk ELa | 3.56 | | Western Region | | | California Border | 5.81 | | El Paso Permian | 3.45 | | El Paso San Juan | 2.50 | | Waha Hub | 3.54 | | Canadian/Rockies Region | | | Nova/Aeco (in C$/GJ) | 4.42 | | Dawn Hub/Union | 3.77 | | Northwest Stanfield | 2.84 | | Wyoming Pool | 2.23 | | Opal/Kern River | 2.25 | | PGT-Malin | 3.10 | | Sumas | 2.70 | =20 POWER FUTURES | Month | COB | Change | PV | Change | | JUL | 160.00 | +0.00 | 173.00 | -49.00 | | AUG | 197.00 | +0.00 | 220.00 | -32.00 | | SEP | 131.00 | +0.00 | 131.00 | -16.00 =20 | OCT | 148.00 | +0.00 | 95.00 | +0.00 | | NOV | 95.00 | +0.00 | 75.00 | +0.00 | | DEC | 145.00 | +0.00 | 75.00 | +0.00 | | JAN | 95.00 | +0.00 | 70.00 | +0.00 | | FEB | 145.00 | +0.00 | 60.00 | +0.00 | | MAR | 145.00 | +0.00 | 60.00 | +0.00 | | APR | 62.00 | +0.00 | 55.00 | +0.00 | | MAY | 62.00 | +0.00 | 55.00 | +0.00 | | JUN | 62.00 | +0.00 | 75.00 | +0.00 | | Month | Entergy | Change | Cinergy | Change | | JUL | 88.25 | +0.75 | 79.25 | +1.25 | | AUG | 82.25 | +0.75 | 71.25 | +1.50 | | SEP | 42.75 | +0.35 | 36.70 | +0.45 | | OCT | 36.75 | +0.50 | 34.30 | +0.25 | | NOV | 36.75 | +0.50 | 34.30 | +0.25 | | DEC | 36.75 | +0.50 | 34.30 | +0.25 | | JAN | 39.00 | +0.25 | 37.75 | +0.50 | | FEB | 39.00 | +0.25 | 37.75 | +0.50 | | MAR | 36.00 | +0.50 | 34.75 | +0.50 | | APR | 36.00 | +0.50 | 34.25 | +0.50 | | MAY | 41.00 | +0.50 | 39.00 | +0.25 | | JUN | 52.00 | +0.75 | 49.50 | +1.00 =20 =20 POWER FUTURES | Month | PJM | Change | | JUL | 77.50 | +1.00 | | AUG | 69.50 | +0.50 | | SEP | 39.00 | +0.00 | | OCT | 36.10 | +0.10 | | NOV | 36.10 | +0.10 | | DEC | 36.10 | +0.10 | | JAN | 41.50 | +0.10 | | FEB | 41.50 | +0.10 | | MAR | 37.25 | +0.25 | | APR | 37.25 | +0.25 | | MAY | 39.25 | +0.25 | | JUN | 49.75 | +0.25 | =20 NATURAL GAS OPTIONS | | Closing | Days |Implied ATM | | Month | Price | Left | Volatility =20 | JUL | 3.801 | 21 | 58.11% | | AUG | 3.888 | 51 | 59.43% | | SEP | 3.928 | 84 | 60.30% | | OCT | 3.970 | 112 | 60.39% | | NOV | 4.153 | 143 | 60.07% | | DEC | 4.333 | 175 | 60.01% =20 =20 PHYSICAL POWER PRICES | | High | Low | Average =20 | | $/MWh | $/MWh | $/MWh | | Cinergy | 28.00 | 26.00 | 27.15 | | ECAR | 34.15 | 30.70 | 32.25 | | ERCOT | 36.00 | 35.00 | 35.55 | | Entergy | 34.00 | 34.00 | 34.00 | | TVA | 28.50 | 28.00 | 28.35 | | ComEd | 28.00 | 27.50 | 27.90 | | PJM West | 29.25 | 27.75 | 28.25 | | Main | 33.25 | 29.00 | 31.30 | | MAPP | 30.00 | 26.00 | 27.70 | | Palo Verde | 100.00 | 67.00 | 77.35 | | Mid C | 58.00 | 49.00 | 54.45 | | COB | 50.00 | 50.00 | 50.00 | | 4 Corners | 50.00 | 47.00 | 48.50 | | Mead | 70.00 | 60.00 | 65.00 | | NP 15 | 68.00 | 53.00 | 57.00 | | SP 15 | 75.00 | 55.00 | 63.15 =20 _______________________________________________ =20 Today's Power Bulletins * Dynegy Plans 680 MW Natural Gas Fired Peaking Power Plant in Carson Cit= y, Michigan * California PUC Delays Vote to Pay 15% of Back Power Payments * PG&E CEO Smith Attempts to Defend $17.5 Million Executive Bonus Plan Am= id Growing Hostility * No New US Nuclear Power Plants Likely Anytime Soon * Morgan Stanley Raises US Growth Forecast * India's Private Power Producers Expect End Soon to Dispute Between Enro= n and Local Utility After Prime Minster Says He Is Optimistic of Solution * Texas Supreme Court Upholds PUC Ruling Allowing Central Power and Light= to Securitize $797 Million * Cleco Corporation's CFO Howlin Resigns * Reliant Energy Declares Quarterly Dividend of $0.375 per Share of Commo= n Stock * FPL's Online Home Energy Survey Designed to Help Residents Keep Bills D= own * National Grid's US Transmission System Earns ISO 14001 Registration * June 11th, 2:15 PM Webcast of FirstEnergy CFO Presentation at Deutsche = Banc Alex Brown Electric Power Conference at: www.firstenergycorp.com/ir/p= resentations=20 * Emission Reduction Credits Grow in Importance as More Companies Take Ac= tions to Cut Greenhouse Gas Emissions * Western Spot Power Prices Fall for 4th Consecutive Day Amid Less Weeken= d Demand =20 More stories with bulletins at http://www.enerfactsdaily.com=20 ____________________________________________________ =20 PJM Expands Grid=20 =20 PJM Interconnection plans to spend more than $420 million on the 2nd p= hase of a transmission infrastructure plan to increase reliability. This w= ill be in addition to a $300 million transmission investment PJM initiated= last summer. With a total of about 40,000 MW proposed for construction in= the region, PJM last year implemented a Regional Transmission Expansion P= lan to ensure the system continues to comply with regional reliability sta= ndards. The 2nd phase of the RTEP calls for transmission upgrades to accom= modate 43 generation projects PJM expects to have online by the end of 200= 6, with a total of more than 12,500 MW of new capacity. =20 ___________________________________________________ =20 GET REAL about energy risk management with KWI =20 In today's fast moving energy markets you need to be able to manage risk in= real time. =20 That means knowing before you hit a risk problem, not afterwards when it m= ay be too late to prevent big losses spreading right through your enterpri= se. =20 With kW3000(tm), our multi-commodity, integrated front to back office soft= ware, you can monitor your Profit At Risk(tm), counterparty risk and mark-= to-market all in real time. =20 Keep alert to risk. Do it in real time. Call KWI - http://www.kwi.com=20 =20 Americas: +1-281-681-3301 / Europe: +44 (0) 20-7386-2700 / Asia Pacific: += 61(0) 2-9976-6111=20 ________________________________________________ =20 Today's Gas Bulletins * EIA Warns Oil May Jump $6 $10 per Barrel If Iraqi Exports Not Replaced * Williams Sells $480 Million 30-Year Bonds * Meteorologist at Colorado State University Revises Outlook for Hurrican= e Season, Now Calls for Above Average Activity * House Republicans Move to Restore Energy Spending Cuts * Kinder Morgan and Calpine Report Successful Open Seasons for Sonoran Pi= peline; More than 1 Bcf per Day for Phase 1 from San Juan Basin to Needles= and Topock; Another 1.5 Bcf per Day for Phase 2 from California Border to= San Francisco=20 * TransCanada Files Fair Return Application with NEB Seeking Approval of = After-Tax Weighted Average Cost of Capital of 7.5% * Torch Offshore Announces Pricing of IPO at $16 per Share * Tengasco Completes 36th and 37th Oil and Natural Gas Wells in Swan Cree= k =20 More stories with bulletins at http://www.enerfactsdaily.com=20 __________________________________________________ =20 PGS ENERGY TRAINING =20 The last public seminars that PGS Energy Training will be offering until O= ctober have been scheduled at the Downtown Houston Hyatt Regency on June 12= , 13, 14 &15 For more information, call 412-279-9298 or visit http://www.pgsenergy.com/s= chedule.html=20 1)Fundamentals of Energy & Electricity Futures, Options & Derivatives =20 2)Fundamentals of Electric Power Trading 3) Gas-to-Electricity Arbitrage & How to Maximize the Profitability of Ele= ctric Generation Assets 4) Fundamentals of Statistical Analysis for the Energy & Electric Power M= arkets 5) How to Value Electric Generation Assets in a Deregulated Market ____________________________________________________ =20 Natural Gas Futures Slip Lower=20 =20 Natural gas futures on the NYMEX wandered lower yesterday in uninspire= d trading as the market consolidated following Wednesday's surprising high= storage injection. Much of the trading was conducted by local and short-t= erm traders willing to trade for small gains, compromising price discovery= . El Paso and Enron were trying to coax the market up so they could initia= te sales. Traders anticipate todays activity to be similar to yesterdays l= ackluster pace. The July contract fell $0.011 to $3.79 per MMBtu and August= also dipped $0.011 to $3.877 per MMBtu. On Wednesday the AGA reported sto= rage levels at 1,398 Bcf, virtually identical to the 5-year average, and 4= 6 Bcf more than a year ago. After several days of cool, rainy weather, muc= h of the eastern half of the nation will have more summer-like weather thi= s weekend and early next weeks. Demand use will increase significantly, bu= t will not be unusually high for early June. Hot weather in the southweste= rn states will begin to move into Texas and the Plains this weekend. Look = for the market to continue to slip lower in the absence of any significant= driving force. There needs to be something to change the dynamics of the = market, but in the meantime, most everybody is on the same page, and the l= ocals are simply trying to pick each other's pockets. The next key level o= f technical support is $3.60, with $4.00 and $4.20 offering resistance. Na= tural gas for next day delivery across the US dropped $0.05 - $0.15 per MM= Btu, except out west where prices continued to tumble. Canadian spot price= s rebounded from yesterdays sharp decline. Natural gas for next day delive= ry at the Henry hub lost $0.07 to $3.69 per MMBtu. __________________________________________________ =20 North American Gas Storage Conference =20 Storage 2001 - 2002: =20 Source of Stability or Chaos? =20 June 22, Houston =20 =20 Find the answers at Ziff Energy's natural gas storage conference. A block= buster roster of industry leaders from the utility, trading, pipeline and = storage sectors in each of the North American storage regions will present = timely, relevant information you can use. This conference will assist you = in making critical decisions about your natural gas storage strategy for p= eaking and the remaining seasonal base fill. The game has changed - storag= e strategy has been kicked up a notch from buying for seasonal fill to rea= l-time risk management. =20 Session 1 Supply Shortage or Storage Inefficiencies: Last Winter's Saga El Paso Corporation - Byron Wright, VP Energy Information Administration, DOE - Jim Thompson, Industry Analyst Keyspan Energy - David Manning, Senior VP, Corporation Affairs Axia Energy - David Modesett, VP =20 Session 2 The Changing Storage Paradigm:=20 Dynamic Storage Service vs Seasonal Fill AEC Storage & Hub Services Inc. - Rick Daniel, President Williams Energy Marketing & Trading - Blake Herndon, Director, Risk Manage= ment NiSource Inc. - T.J. Aruffo, VP Energy Supply Services Enron North America - Paul Bieniawski, Director Duke Energy Gas Transmission - David Nightingale, VP MHP =20 Session 3 Pricing it Right and Reducing Risk:=20 Can We Expect Stability or Chaos in Winter 2001 - 2001? Aquila Energy - Mark Cook, VP The Exchange Center Conoco Gas and Power Mar= keting - Brad King, VP Storage Sempra Energy Trading - Dan Guertin, Meteorologist =20 For more information or to register visithttp://www.ziffenergyconferences.c= om , call 1-800-853-6252, or email us at gasconference@ziffenergy.com=20 ________________________________________________ =20 DOE Seeks Input on Research Programs =20 The DOE plans a series of town hall-style meetings next week across th= e nation to hear from the public, elected officials and energy experts on = federal research programs that promote energy efficiency and more use of r= enewable fuels. The input at these meetings will help the DOE identify opp= ortunities for future research and investment while assessing our past eff= ectiveness. The meetings are part of a comprehensive review of the departm= ent's multibillion dollar research programs as called for in the Bush admi= nistration's new national energy plan. Environmental and consumers groups = have opposed the administration's proposed budget cuts in the research prog= rams. The first two public meetings will take place on June 12th in Atlant= a and Chicago, followed by June 19th meetings in Boston and Seattle, June = 21st in Denver and Philadelphia and a June 26th meeting in Washington. Eac= h meeting will last from 9 AM to 9 PM local time. =20 ________________________________________________ =20 VISIT http://www.enernetdaily.com/restruc.pdf =20 TO SEE YOUR ABSOLUTELY LAST FREE ISSUE OF RESTRUCTURING TODAY, UNLESS YOY= SUBSCRIBE. A partial copy is on the bottom of the newsletter or view the complete ne= wsletter visit http://www.enernetdaily.com/restruc.pdf=20 Call 504-893-9225 TODAY or email enerfax1@aol.com to order at the discou= nted prices of $437 per year for individual, $974 for 5 readers, or $4,000= for your entire corporation. _________________________________________________ =20 Natural Gas NYMEX Volume 01JLY 30,426 01AUG 5,961 01SEP 3,353 01OCT 5,620 01NOV 4,739 01DEC 3,997 02JAN 1,881 02FEB 1,732 02MAR 2,502 02APR 1,308 02MAY 160 02JUN 255 02JLY 42 02AUG 70 02SEP 69 02OCT 106 02NOV 116 02DEC 37 03JAN 237 03FEB 238 03MAR 32 03APR 384 03MAY 33 03JUN =20 ______________________________________________ =20 DOE Seeks Input on Research Programs =20 The DOE plans a series of town hall-style meetings next week across th= e nation to hear from the public, elected officials and energy experts on = federal research programs that promote energy efficiency and more use of r= enewable fuels. The input at these meetings will help the DOE identify opp= ortunities for future research and investment while assessing our past eff= ectiveness. The meetings are part of a comprehensive review of the departm= ent's multibillion dollar research programs as called for in the Bush admi= nistration's new national energy plan. Environmental and consumers groups = have opposed the administration's proposed budget cuts in the research prog= rams. The first two public meetings will take place on June 12th in Atlant= a and Chicago, followed by June 19th meetings in Boston and Seattle, June = 21st in Denver and Philadelphia and a June 26th meeting in Washington. Eac= h meeting will last from 9 AM to 9 PM local time. =20 _______________________________________________ =20 ENERGY. @ENERGY, FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. =20 *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks =20 FEA FINANCIAL ENGINEERING ASSOCIATEShttp://www.fea.com=20 main phone number: 1 510-548-6200 email address: info@fea.com=20 _________________________________________________ =20 EIA FORECAST =20 EIA forecast for the 2nd and 3rd quarters of 2001, with last month's estim= ates and actual year-ago figures:=20 =20 Q2-2001 Q3-2001 =20 June May 2000 June May 2000 =20 Est Est Actual Est Est Actual=20 DEMAND 5.04 5.08 5.00 4.90 4.85 4.72 SU= PPLY 4.77 4.99 5.02(R) 5.13 5.03 4.94(R)=20 STORAGE 1.80 1.61 1.71 2.66 2.59 2.47=20 WELLHEAD PRICE 4.35 4.57 3.06 3.95 4.73 3.87=20 ($ per MCF) =20 ________________________________________________ =20 "New Horizons Solutions for the 21st Century" =20 An Energy Efficiency Workshop and Exposition Kansas City, Missouri June 3 - June 6, 2001 =20 For more information go to http://www.energy2001.eee.doe.gov=20 _________________________________________________ =20 Senate Democrats to Investigate High Energy Prices =20 The new Democratic chairman of the Senate Governmental Affairs Commit= tee says he will examine FERCs refusal to cap wholesale power prices in we= stern states. Following the recent shift in control of the Senate to Democ= rats, Senator Lieberman of Connecticut has charged that the FERC has faile= d to do its job, and will hold a June 20th hearing on the matter. Presiden= t Bush and FERC chairman Hebert are against electricity price caps, arguin= g they would discourage firms from building new power plants and do nothin= g to encourage conservation. California represents 15% of the economy and = any major downturn there would have rippling effects across the nation, Li= eberman warned. He will also hold a June 13th hearing on the impact of der= egulation of the electricity and natural gas industries. A subcommittee of = the governmental affairs panel is planning a separate investigation into t= he oil industry's record profits and high retail gasoline prices. =20 _________________________________________________ =20 SUNGARD Solutions for Success in Energy Trading =20 Epsilon and Panorama Energy Risk and complexity are inevitable components of every trading transaction= within today's volatile energy market. Having the right tools to manage = and control those risks has become a determining success factor. SunGard = provides those tools with Epsilon and Panorama Energy - comprehensive solu= tions designed to create measurable competitive advantages for energy trad= ing organizations and utility companies worldwide. =20 To receive more information or a free demonstration, we invite you to cont= act us at 713-266-7771 or visit our web site at http://risk.sungard.com/ene= rgy . ________________________________________________ =20 Calpine Arizona Power Plant Connected =20 The western power market received a welcome addition yesterday as Calp= ines new 540 MW power plant in Arizona began commercial operations. The na= tural gas fired South Point power plant has been connected to the grid and= for markets in Arizona, Nevada, and California. Calpine The facility is a= t the Fort Mojave Indian Reservation in Mohave County, and is Calpines fir= st major power plant to start commercial service in the West. It is develo= ping nine power plants in California that are under construction or in var= ious stages of permitting, and two new plants under construction in Oregon = and Washington. Together, these new power plants will produce more than 3,= 400 MW.=20 ______________________________________________ =20 Progas Storage Services, Inc =20 was recently organized to offer specialized natural gas storage services to= marketers and end users servicing the upper Midwest and Northeast market = regions along the major transmission systems in Indiana, Illinois, Kentuck= y, and Michigan. PGSMI has 10 bcf of potential working capacity which will= offer service along TXG, ANR, Midwestern, and is currently evaluating for= purchase another 21 bcf of potential working capacity which can be servic= ed by these and other systems in the region. PGSMI also explores for natur= al gas in the Gulf Coast region through a wholly owned subsidiary. Progas = intends to go public through a route of private industry offerings, and an= IPO or registration. For more information on services or the company mail= to: gastorage@aol.com or for AOL mail to gastorage@aol.com ; web site cur= rently under construction at: http://www.progas.net/wip . =20 The company's executive and administrative office is located in Abilene, T= exas with storage operations in Owensboro, KY and exploration operations in= Corpus Christi, TX. =20 Progas Storage Services, Inc =20 8610 S. Hwy 277 Abilene, TX 79606 =20 Ph 915 698 3699 Fx 915 698 2859 _____________________________________________ =20 Canadian Producers Investigate Coal Gas =20 Canadian producers are counting on obtaining big natural gas volumes f= rom shallow coal seams. Alberta Energy, Nexen, PanCanadian Petroleum and P= enn West Petroleum are spending millions of dollars to investigate whether= natural gas trapped in coal beds less than 3,300 feet deep can be produce= d economically. The US derives 7% of its natural gas production from coal= seam gas. Western Canada is estimated to have between 135 Tcf and 260 Tcf= of recoverable coal gas. Natural gas fields containing at least 17 Tcf ha= ve been discovered in Canada's Far North, but bringing them to market will= cost billions to build new pipelines and other facilities. Advocates say = many coal deposits sit near existing processing plants and transmission lin= es, meaning coal gas fields will be cheaper to connect and produce than Ar= ctic reserves. The Alberta Research Council has spent several years resear= ching ways to enhance coal gas production and is looking for C$12 million = to proceed with a pilot project.=20 ______________________________________________ =20 TRENTON/BLACKRIVER "BOOM" IN WEST VIRGINIA =20 Land and Mineral Development LLC., Vienna, West Virginia, owns 85,000 acres= of mineral rights in Southeastern West Virginia. The first Trenton/Blackr= iver production found in the state, was in a well drilled in 1962 by Tidew= ater Oil Company adjoining our property. We need an industry partner. Geophysicist report and other information available. The 85000 a= cres would also make a great gas storage field. =20 We also have another small storage field for sale near the new Trenton Wel= ls. =20 Email - Driller@wirefire.com=20 Qualified Industry Principals only please. This is not an offer to sell anything to anyone. =20 Land and Mineral Development LLC., P.O. Box 5370 Vienna, West Virginia, 26105 (304) 295-3333 _______________________________________________ =20 El Paso Market Power Abuse Investigation Continues =20 FERC's investigation into alleged market power abuse by El Paso is sti= ll proceeding a month after it began. Both El Paso and the California PUC = have painted contradicting versions of events, and the hearing looks no cl= oser to conclusion than when it began. El Paso is attempting to discredit = a study prepared by The Brattle Group, a Massachusetts consultant hired by= Edison to find evidence that El Paso Merchant wielded market power. It du= tifully concluded that soaring California prices were not caused by regular= market forces and pointed to a conspiracy to widen border-basin price spr= eads. As part of El Paso's effort to tarnish the study, a professor of pol= itical economy at Harvard's Kennedy School of Government testified that Br= attle's tale doesnt add up. In order to prove market power, he said 3 cond= itions must be met: * The system for getting gas to California must not be= full; * El Paso Merchant must have unutilized, but available, delivery ri= ghts; and * Other shippers must have fully utilized their delivery rights.= The final condition, he says proves that market power is impossible to es= tablish. =20 _______________________________________________ =20 CAMINUS ENERGY SOFTWARE SHOWCASE 2001 HOUSTON, TEXAS =20 You're Invited To a four hour exposition of software and services that will set the new s= tandard for the energy trading, scheduling, and risk management. Join us a= nd compare your existing system with our latest product offerings. =20 Thursday, June 14, 2001. 3p.m. to 7p.m. Houston Petroleum Club 800 Bell Avenue, 43rd Floor =20 For more information or to register on-line, visit http://www.caminus.com .= You may invite up to two qualified colleagues to join you. =20 Nucleus Software . ZaiNet Software ZaiNet Gasmaster 2 . ZaiNet WeatherDelta ___________________________________________________ =20 Fuel Cell Expo on Capitol Hill =20 Leaders of the fuel cell industry will be exhibiting at the 2001 Con= gressional Fuel Cell Expo to be held Tuesday, June 26th in the Cannon Cauc= us Room of the Cannon House Office Building on Capitol Hill in Washington,= DC. Energy Secretary Abraham will provide welcoming remarks. The Expo wil= l provide an opportunity for members of Congress, Congressional staff, fed= eral agency officials, and news media representatives to learn about these= technology advancements directly from the leaders in the industry. The Ex= po will be open from 11 AM. to 3 PM. The event is free, open to the public,= and no pre-registration is required. It is being sponsored by the US Fuel= Cell Council, the trade association dedicated to fostering the commercial= introduction of fuel cell technology. Exhibitors will include: Ballard Po= wer Systems; California Air Resources Board; California Fuel Cell Partners= hip; DCH/Enable Fuel Cell; Delphi Automotive Systems; De Nora North Americ= a; DuPont Fuel Cells; FuelCell Energy; Fuel Cells 2000; H-Power; Internati= onal Fuel Cells; Mechanical Technology; Methanol Institute; Nuvera Fuel Ce= lls; Plug Power; Porvair Fuel Cell Technology; Quantum Technologies; Renew= able Fuels Association; Siemens Westinghouse; Syntroleum Corporation; Texa= co Energy Systems, DOE; US Fuel Cell Council; and ZeTek Power Corporation.= =20 ____________________________________________________ =20 EnerfactsDaily Job Center at http://www.enerfactsdaily.com=20 =20 New Job Postings Include: * Sales-Business Development * Operations Specialist * Account Director -Marketing/Transportation =20 _____________________________________________________ =20 Need a past issue of Enerfax Daily or Enerfax GOLD. Past issues are availa= ble on Sagewave at http://www.sagewave.com/D2/autolog/common/log.asp?KEY=3D= enerfax=20 ______________________________________________________ =20 FINANCIAL SUMMARY The TSE 300 dropped 2.90 points to 8191.49 The CRB Index slipped 0.63 points to 209.13 The US Dollar decreased 0.22 points to 119.11 The Dow gained 20.50 points to 11090.74 The S&P 500 climbed 6.93 points to 1276.96 The Nasdaq was down 46.27 points to 2264.00 ____________________________________________________ Click here for Enerfa= x Energy Prices and News! =20 =20 Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service .