Message-ID: <30617467.1075863426003.JavaMail.evans@thyme> Date: Fri, 15 Jun 2001 09:09:40 -0700 (PDT) From: j.kaminski@enron.com To: vkaminski@aol.com Subject: FW: [enerfaxdaily] AGA Says Market Manipulated Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: Kaminski, Vince J X-To: 'vkaminski@aol.com' X-cc: X-bcc: X-Folder: \VKAMINS (Non-Privileged)\Kaminski, Vince J\Sent Items X-Origin: Kaminski-V X-FileName: VKAMINS (Non-Privileged).pst -----Original Message----- From: =09enerfax1@bellsouth.net@ENRON [mailto:IMCEANOTES-enerfax1+40bellsou= th+2Enet+40ENRON@ENRON.com]=20 Sent:=09Friday, June 15, 2001 5:20 AM To:=09vkamins@enron.com Subject:=09[enerfaxdaily] AGA Says Market Manipulated To unsubscribe see bottom of newsletter. OUTLOOK users please wait a minute= for the web to appear, AOL please scroll down past the header to view. ---= --Pure Text & Lotus Users subscribe to the pure text version by clicking h= ttp://www.modernmediaohio.com/subscribe/enerfax.htm=20 Enerfax Daily NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE Friday, June 15, 2001 No. 762 PHYSICAL GAS PRICES | Gulf/Eastern Region | | | Agua Dulce | 3.88 | | ANR SE | 3.86 | | Carthage TG | 3.92 | | Chicago Citygate | 3.90 | | Columbia Gulf Onshore | 3.87 | | Dominion TTT South(CNG S. Point) | 4.18 | | Henry Hub | 3.97 | | Houston Ship Channel | 3.98 | | Katy Hub | 3.94 | | NGPL - Midcontinent | 3.72 | | NGPL STX | 3.88 | | NGPL TX/OK | 3.86 | | Niagara | 4.09 | | Sonat Tier 1 | 3.86 | | TCO IPP Pool | 4.13 | | Tetco ELa | 3.91 | | Tetco M-3 | 4.30 | | Tetco STX | 3.87 | | TGP Zone 0 | 3.86 | | TGP Zone 1 | 3.99 | | TGT Zone SL | 3.88 | | New York Citygate | 4.29 | | Transco Station 65 | 3.97 | | Transco Zone 6 (NY) | 4.29 | | Trunk ELa | 3.85 | | Western Region | | | California Border | 6.98 | | El Paso Permian | 3.74 | | El Paso San Juan | 3.15 | | Waha Hub | 3.88 | | Canadian/Rockies Region | | | Nova/Aeco (in C$/GJ) | 4.95 | | Dawn Hub/Union | 4.09 | | Northwest Stanfield | 3.45 | | Wyoming Pool | 2.88 | | Opal/Kern River | 2.90 | | PGT-Malin | 3.66 | | Sumas | 3.52 | Power Traders - If you like tools, wouldn't it be nice to have one that mak= es you money? Profit from Time2Trade(tm). Power Analysts - If you like detail, wouldn't it be great to have it all? 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Gas Futures Henry Hub 12 Month Strip 4.2343 -0.1041=09=09 18 Month Strip 4.1726 -0.1107=09=09 | Month | High | Low | Close | Change | | JUL | 4.180 | 3.975 | 4.038 | -0.074 | | AUG | 4.215 | 4.070 | 4.123 | -0.088 | | SEP | 4.255 | 4.120 | 4.171 | -0.091 | | OCT | 4.300 | 4.180 | 4.218 | -0.094 | | NOV | 4.500 | 4.375 | 4.415 | -0.096 | | DEC | 4.700 | 4.430 | 4.612 | -0.097 | | JAN | 4.765 | 4.640 | 4.675 | -0.099 | | FEB | 4.630 | 4.400 | 4.540 | -0.109 | | MAR | 4.430 | 4.130 | 4.350 | -0.119 | | APR | 4.010 | 3.930 | 3.925 | -0.128 | | MAY | 3.940 | 3.840 | 3.850 | -0.128 | | JUN | 3.985 | 3.885 | 3.895 | -0.126 | Pure Text or Lotus & AOL Readers-subscribe by going to: http://www.modernmediaohio.com/subscribe/enerfax.htm HTML,Outlook Email, Readers-subscribe by writing mailto:join-EnerfaxDaily@relay.netatlantic.com POWER FUTURES | Month | COB | Change | PV | Change | | JUL | 144.00 | -45.00 | 157.00 | -42.00 | | AUG | 177.00 | -49.00 | 195.00 | -55.00 | | SEP | 135.00 | -32.00 | 135.00 | -30.00 | | OCT | 107.00 | -35.00 | 92.00 | -20.00 | | NOV | 91.00 | -26.00 | 70.00 | -8.00 | | DEC | 128.00 | -33.00 | 70.00 | -13.00 | | JAN | 80.00 | +0.00 | 75.00 | +0.00 | | FEB | 130.00 | +0.00 | 65.00 | +0.00 | | MAR | 130.00 | +0.00 | 58.00 | -7.00 | | APR | 62.00 | +0.00 | 58.00 | +0.00 | | MAY | 62.00 | +0.00 | 58.00 | +0.00 | | JUN | 62.00 | +0.00 | 78.00 | +0.00 | | Month | Entergy | Change | Cinergy | Change | | JUL | 84.75 | -1.75 | 77.25 | -2.00 | | AUG | 79.00 | -1.50 | 70.25 | -0.75 | | SEP | 41.90 | -0.85 | 36.55 | -0.55 | | OCT | 36.95 | -0.55 | 34.65 | -0.40 | | NOV | 36.95 | -0.55 | 34.65 | -0.40 | | DEC | 36.95 | -0.55 | 34.65 | -0.40 | | JAN | 39.00 | -0.50 | 37.50 | -0.75 | | FEB | 39.00 | -0.50 | 37.50 | -0.75 | | MAR | 35.75 | -0.50 | 35.00 | -0.25 | | APR | 35.75 | -0.50 | 35.00 | -0.25 | | MAY | 41.00 | -0.50 | 39.25 | +0.25 | | JUN | 52.00 | +1.25 | 49.50 | -0.25 | POWER FUTURES | Month | PJM | Change | | JUL | 73.25 | -3.75 | | AUG | 67.00 | -1.25 | | SEP | 38.75 | -0.70 | | OCT | 36.00 | -0.50 | | NOV | 36.00 | -0.50 | | DEC | 36.00 | -0.50 | | JAN | 41.25 | -0.60 | | FEB | 41.25 | -0.60 | | MAR | 37.00 | -0.50 | | APR | 37.00 | -0.50 | | MAY | 39.50 | -0.50 | | JUN | 49.50 | -0.50 | NATURAL GAS OPTIONS | | Closing | Days | Implied ATM | | Month | Price | Left | Volatility | | JUL | 4.038 | 13 | 56.23% | | AUG | 4.123 | 43 | 57.87% | | SEP | 4.171 | 76 | 58.20% | | OCT | 4.218 | 104 | 59.10% | | NOV | 4.415 | 135 | 59.62% | | DEC | 4.612 | 167 | 59.70% | PHYSICAL POWER PRICES | | High | Low | Average | | | $/MWh | $/MWh | $/MWh | | Cinergy | 58.00 | 51.00 | 53.60 | | ECAR | 46.65 | 42.85 | 45.35 | | ERCOT | 42.00 | 41.00 | 41.50 | | Entergy | 54.00 | 50.00 | 51.35 | | TVA | 61.10 | 52.40 | 57.35 | | ComEd | 54.50 | 46.50 | 48.50 | | PJM West | 57.00 | 54.00 | 55.25 | | Main | 45.00 | 39.75 | 42.75 | | MAPP | 42.50 | 38.50 | 40.40 | | Palo Verde | 71.00 | 52.00 | 66.50 | | Mid C | 60.00 | 51.00 | 54.55 | | COB | 58.00 | 58.00 | 58.00 | | 4 Corners | 50.00 | 36.00 | 42.30 | | Mead | 63.00 | 53.00 | 60.50 | | NP 15 | 57.00 | 55.00 | 56.20 | | SP 15 | 65.00 | 48.00 | 56.75 | _______________________________________________ Today's Power Bulletins * FPL Energy to Build 517 MW Natural Gas Fired Power Plant in Blythe, Calif= ornia=20 * Marriott Expands Energy Surcharge Outside California * Mirant Begins Commercial Operation of 248 MW Natural Gas Fired Power Plan= t in Bosque County, Texas * NRC Reports 1,106 MW Salem Unit 1 Operating at 32%, While Unit 2 Operates= at 83% =20 * EU Approves BHP-Billiton Merger * Salomon Initiates Coverage of DTE Energy with a Buy Rating and $54 Target= Price * Alcoa to Idle Wenatchee, WA Smelter for 15 Months, Resale Power Back to G= rid * California Lawmaker Probing Hack of ISO Electricity Grid * Puget Sound Energy and BPA Reach Federal Hydropower Accord Agreement Help= s Keep Rates Stable for PSE Customers * Midwest Independent Transmission System Operator Terminates Agreement wit= h Mid-America Interconnected Network * Tennessee Valley Authority to Redeem All 1993 Series C Power Bonds Due Ju= ly 15, 2003 * DTE Energy's International Transmission Asks FERC to Help Stop 'Free Ride= rs' on Transmission System * APX Opens Palo Verde Market, Introducing Rolling 40-Hour Trading Flexibil= ity to Arizona * TXU Energy Services Launches Large Business Energy Management Portal * Western Spot Power Prices Fall with Less Weekend Demand and More Hydro * Northeast Spot Power Prices Plunge Again with Lightened Loads ____________________________________________________ GET REAL about energy risk management with KWI In today's fast moving energy markets you need to be able to manage risk in= real time. That means knowing before you hit a risk problem, not afterwards when it ma= y be too late to prevent big losses spreading right through your enterprise= . With kW3000(tm), our multi-commodity, integrated front to back office softw= are, you can monitor your Profit At Risk(tm), counterparty risk and mark-to= -market all in real time. Keep alert to risk. Do it in real time. Call KWI - http://www.kwi.com=20 Americas: +1-281-681-3301 / Europe: +44 (0) 20-7386-2700 / Asia Pacific: +6= 1(0) 2-9976-6111=20 ________________________________________________ Today's Gas Bulletins * BC Gas and Westport Innovations in Deal with T Boone Pickens to Create No= rth America's Largest Supplier of Natural Gas for Vehicles * Alberta Premier Klein Talks Energy with VP Cheney * Canadian Energy Service Firms Expect Drilling Boom-Times to Continue with= Increasing US Interest * EIA Says Iraq May Cause US Crude and Heating Oil Stocks to Drop * Producer Price Index Inches Up 0.1% in May, After a 0.3% Rise in April * Hong Kong & China Gas in Consortium with Royal Dutch/Shell to Bid for $4.= 8 Billion West-East Natural Gas Pipeline in China * ExxonMobil Says Japan Natural Gas Pipeline from Russia's Sakhalin Field i= s Economically Viable * National Fuel Gas Announces a 2-for-1 Stock Split and Increases Dividend = for the 31st Consecutive Year __________________________________________________ Natural Gas Futures Continue Lower=20 Natural gas futures on the NYMEX dropped lower yesterday as traders remaine= d in a bearish mood following Wednesday's triple digit AGA report. The July= contract lost $0.074 to $4.038 per MMBtu, trading most of the session abov= e the $4.00 support level as warm weather in the Northeast kept demand firm= . August dipped $0.088 to $4.123 per MMBtu. Local and short-term traders' e= arly efforts to push prices lower were successful, but some see the risk/re= ward of additional selling at these levels limited. On Wednesday, the AGA r= eported a storage inventory build of 105 Bcf from the previous week, well a= bove both the 2000 injection of 78 Bcf and the 5-year average of 81 Bcf for= the comparable weeks. The selling sparked by the AGA number was encouraged= by some disappointment with weather conditions in the Northeast. Earlier t= his week, some forecasters were calling for warmer temperatures, with some = cities expected to be near 90 degrees. But temperatures in the region have = been in the low to mid-80s. However, warmer weather is expected to continue= in the East though this weekend. Mild weather will linger in the north-cen= tral and northwestern states. California and the western states will begin = to heat up this weekend and early next week. Further tests of $4.00 are lik= ely, with significant support at $3.80. Resistance is seen at $4.20. Natura= l gas for next day delivery across the US and Canada was generally down $0.= 15 $0.25 yesterday, except out west, where the Topock delivery point tumbl= ed over $1.00. Natural gas for next day delivery at the Henry hub dropped $= 0.16 to $3.97 per MMBtu. __________________________________________________ North American Gas Storage Conference=09=09=09=09=09=09=09=09=09 Storage 2001 - 2002:=09=09=09 Source of Stability or Chaos?=09=09=09=09=09=09=09=09=09 June 22, Houston=09=09=09=09=09=09=09=09=09 Find the answers at Ziff Energy's natural gas storage conference. A blockb= uster roster of industry leaders from the utility, trading, pipeline and st= orage sectors in each of the North American storage regions will present ti= mely, relevant information you can use. This conference will assist you in = making critical decisions about your natural gas storage strategy for peaki= ng and the remaining seasonal base fill. The game has changed - storage str= ategy has been kicked up a notch from buying for seasonal fill to real-time= risk management. Session 1=09Supply 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 Session 2=09The 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 Managem= ent NiSource Inc. - T.J. Aruffo, VP Energy Supply Services Enron North America - Paul Bieniawski, Director Duke Energy Gas Transmission - David Nightingale, VP MHP Session 3=09Pricing 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 Mark= eting - Brad King, VP Storage Sempra Energy Trading - Dan Guertin, Meteorologist For more information or to register visithttp://www.ziffenergyconferences.c= om , call 1-800-853-6252, or email us at gasconference@ziffenergy.com=20 ________________________________________________ Nova Scotia Wants Royalty Revenue Nova Scotia wants a bigger share of the cash generated by its oil and natur= al gas reserves to fund the regulators needed to monitor the growing indust= ry, according to the provinces Premier. Speaking at an energy conference in= Halifax, he pleaded with the federal government to let the province keep m= ore of the royalties. A 1986 offshore deal between Canada and Nova Scotia n= ames the province as the main beneficiary of offshore oil and natural gas r= oyalties, but the actual revenue split gives Ottawa 81% and Nova Scotia 19%= . Nova Scotia already exports natural gas to New England from the Sable Off= shore Energy Project. A possible second pipeline proposal to the Northeast = US is being studied.=20 ________________________________________________ Natural Gas NYMEX Volume 01JLY 38,948 01AUG 11,742 01SEP 5,543 01OCT 7,074 01NOV 6,059 01DEC 2,997 02JAN 1,420 02FEB 1,092 02MAR 2,687 02APR 3,216 02MAY 573 02JUN 983 02JLY 585 02AUG 613 02SEP 40 02OCT 393 02NOV 392 02DEC 91 03JAN 26 03FEB 1 03MAR 1 03APR 51 03MAY 0 03JUN 47 ______________________________________________ Los Angeles Power Association Presents: Managing the Natural Gas & Electric Deregulation Crisis June 21, 2001 8:00 a.m. to 4:00 p.m. The Westin Hotel, 333 East Ocean Blvd., Long Beach, CA 90802 Speakers will include: Lawrence Straight, Sterling Energy Operations, Gordo= n Brown, Manager of Operations, California Independent System Operator,Rich= ard Needham, Partner, Stradling, Yocca, Carlson & Rauth Kevin McSpadden, Mi= lbank, Tweed, Hadley, McCloy LLP Geoff Ayres, Director, Southern California Gas. Co.=20 Call (714) 931-3103 for information and reservations _____________________________________________________ California Expects More Power Price Regulation California lawmakers expect the FERC to strengthen its existing plan to lim= it power prices during emergencies by expanding the plan to the entire West= for all hours of the day. The plan would fall short of the price caps. But= , expanding the existing formula for price limits has picked up support amo= ng Republicans who are under increasing pressure. FERC Chairman Hebert has = called a special commission hearing for Monday to address the continuing is= sues affecting California and the West. The proposal seeks to have FERC set= target prices for wholesale electricity prices on an around-the-clock basi= s for the entire West. Under the existing plan, the FERC price limits are t= riggered when the state declares a power emergency and are based on the amo= unt that generators can charge to produce power at the least efficient plan= t. Hebert says that since the FERC relief plan went into effect on May 29th= , power prices in California have dropped to under $100 per MWh from earlie= r in May over the $300 per MWh. The day-ahead market in California recently= traded about $45 per MWh.=20 _______________________________________________ ENERGY. @ENERGY, FEA's Complete Suite of Energy Products, BUILT FOR THE FUTURE. *Manage all your energy risks. *Build and Price deals. *Value physical assets (generation, storage, etc.) *Report and reduce your energy risks FEA FINANCIAL ENGINEERING ASSOCIATEShttp://www.fea.com=20 main phone number: 1 510-548-6200 email address: info@fea.com=20 ______________________________________________ Williams to Supply California Ethanol Williams Bio-Energy has agreed to supply ethanol to California by the fourt= h quarter of this year. Earlier this week, the EPA denied California's requ= est to waive provisions of the 1990 Clean Air Act requiring the use of addi= tives to make cleaner-burning gasoline. The decision means California will = need about 580 million gallons of ethanol for RFG oxygenates in 2004, becau= se the state banned MTBE by the end of 2002. Williams will house 15,000 bar= rels of ethanol at Kinder Morgan Energy Partners storage facility in Carson= , California, to supply the Los Angeles and San Diego markets. Williams pla= ns transport ethanol to the storage facility and directly to refiners by la= rge unit rail shipments and ocean vessels. =20 ______________________________________________ National Energy Services Association Email: william.harper@nesanet.org http://www.nesanet.org=20 713/856-6525 _________________________________________________ Mitchell Reports Higher Proven Reserves Mitchell Energy & Development reports its proven reserves are up 38% in= the first half of the year. Mitchells proved reserves have increased by 58= 0 Bcfe, putting its total reserves at 2.1 Tcfe. The single biggest increase= , 210 Bcfe, came from its most successful field, the Barnett Shale play in = North Texas. The new reserves came from step-out drilling; drilling which o= ccurs outside the previously confirmed area in the Barnett Shale, the fourt= h-largest producing field in Texas. Mitchell currently holds 230,000 acres = of the Barnett and has drilled the area for almost 50 years.=20 ________________________________________________ SUNGARD Solutions for Success in Energy Trading 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 an= d control those risks has become a determining success factor. SunGard pro= vides those tools with Epsilon and Panorama Energy - comprehensive solution= s designed to create measurable competitive advantages for energy trading o= rganizations and utility companies worldwide. To receive more information or a free demonstration, we invite you to conta= ct us at 713-266-7771 or visit our web site at http://risk.sungard.com/ener= gy.=20 ______________________________________________ Natural Gas Investments in Mexico at Risk of Drying Up=20 Mexico has made changes to its natural gas price formulas, but they have pr= oved insufficient to appease distributors, and Metrogas, Tractebel and Semp= ra are threatening to halt investment in new projects. A more efficient and= more competitive regulatory standard is required. The Mexican regulatory c= ommission for energy, the CRE has not changed the reference for prices whic= h remains southern Texas. The federal commission for regulatory improvement= s has a week to decide whether to accept the CRE's proposals. Mexico will r= equire private sector investment of $114 Billion by 2009 in the sector. The= companies want to see a new standard established before the end of the yea= r and all are thinking about pulling out if laws are not clear and in place= . The CRE wants to adjust maximum prices only when the private companies ha= ve completed five years of Mexican operations, something which will occur i= n most cases next year. Pemex still controls rights on natural gas explorat= ion.=20 ______________________________________________ Progas Storage Services, Inc was recently organized to offer specialized natural gas storage services to= marketers and end users servicing the upper Midwest and Northeast market r= egions along the major transmission systems in Indiana, Illinois, Kentucky,= and Michigan. PGSMI has 10 bcf of potential working capacity which will of= fer service along TXG, ANR, Midwestern, and is currently evaluating for pur= chase another 21 bcf of potential working capacity which can be serviced by= these and other systems in the region. PGSMI also explores for natural 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: gast= orage@aol.com or for AOL mail to gastorage@aol.com ; web site currently und= er construction at: http://www.progas.net/wip . The company's executive and administrative office is located in Abilene, Te= xas with storage operations in Owensboro, KY and exploration operations in = Corpus Christi, TX. Progas Storage Services, Inc =20 8610 S. Hwy 277 Abilene, TX 79606 Ph 915 698 3699 Fx 915 698 2859 _____________________________________________ House Appropriations Committee Rejects Power Price Caps Republicans on the House Appropriations Committee have rejected a push by D= emocrats to cap West Coast power prices, but Democrats said they will keep = pressing the issue. The panel voted along party lines to defeat a bill to f= orce FERC to cap wholesale electricity prices in the West. Democrats tried = to stick the measure in a $6.5 billion spending bill that was intended main= ly to fill out immediate defense needs this fiscal year. Rejecting the pric= e caps amendment, Republicans argued it would not solve California's proble= ms of tight supplies, but would further distort the marketplace. House Repu= blican Whip DeLay of Texas said California's power crisis is the result of = allowing environmental extremists to run the state government. Saying the f= ederal government should not intervene in California's electricity market, = Rep. Callahan of Alabama, who chairs the House Appropriations Energy and Wa= ter subcommittee, said: I respectfully submit to you that you've made your = own bed. Democrats countered that limiting prices to cover production costs= and a reasonable profit was essential to halt price gouging by unscrupulou= s suppliers. Democrats hoped to persuade a few West Coast Republicans to su= pport the price caps, but those on the committee resisted. Under the existi= ng plan, the FERC price limits are triggered when the state declares a powe= r emergency and are based on the amount that generators can charge to produ= ce power at the least efficient plant. Generators can charge more if it can= be justified.=20 ______________________________________________ TRENTON/BLACKRIVER "BOOM" IN WEST VIRGINIA Land and Mineral Development LLC., Vienna, West Virginia, owns 85,000 acres= of mineral rights in Southeastern West Virginia. The first Trenton/Blackri= ver production found in the state, was in a well drilled in 1962 by Tidewat= er Oil Company adjoining our property. We need an industry partner. Geophysicist report and other information available. The 85000 ac= res would also make a great gas storage field. We also have another small storage field for sale near the new Trenton Well= s. Email - Driller@wirefire.com=20 Qualified Industry Principals only please. This is not an offer to sell anything to anyone. Land and Mineral Development LLC., P.O. Box 5370 Vienna, West Virginia, 26105 (304) 295-3333 _______________________________________________ El Paso to Buy Velvet Exploration El Paso has launched a C$347 million bid for Canada's Velvet Exploration, t= he latest takeover of a Canadian energy company by US companies. El Paso wi= ll offer C$8.15 in cash for each share of Velvet, representing a premium of= 11% over its stock price before trading was halted yesterday. El Paso will= also assume about C$79 million in debt, bringing the total value of the de= al to about C$426 million. Velvet is known for its exploration and producti= on deals on aboriginal lands with such native groups as the Hobbema, Stoney= and Peigan bands in central and southern Alberta. In the first quarter, it= produced 31 MMcf per day and over 4,000 barrels of oil per day. Velvet's h= as reserves of about 172 Bcfe, with 59% made up of natural gas. El Paso sha= res fell $1.09 to $55.50. _______________________________________________ YOU DESIGNED IT. WE BUILT IT. ZaiNet GasMaster II Today's most comprehensive gas trading, scheduling and accounting system. CAMINUS Your Competitive Edge in Energy Call Caminus at (212)515-3700 or visit the website www.caminus.com=20 ___________________________________________________ Dominion Plans WV Coal Fired Plant=20 Dominion and Anker Energy have plans to develop with a $600 Million, 450 MW= , coal and coal waste fired facility and mining complex in Upshur County, W= V. Dominion would be responsible for the construction, ownership and operat= ion of the proposed facility, which will utilize state-of-the-art clean coa= l technology and would burn more than 65% coal waste. Anker would provide a= ll of the facility's fuel from on-site surface mining operations. This prop= osed coal-fired plant is the first Dominion has developed since payingt $1.= 2 billion to the EPA last November for Clean Air Act violations pertaining = to its coal-fired facilities. The proposed facility will be developed with = NOx reducing equipment built-in. Also, the plant will utilize circulating f= luidized bed boilers, technology that allows coal to be burned more efficie= ntly. The CFB boilers can also burn low heat-content coal and waste fuel, s= omething traditional burners cannot. All coal and coal waste produced will = be burned on-site. Limestone will be used to react with sulfur in the coal = to lower SO2 emissions.=20 ____________________________________________________ EnerfactsDaily Job Center at http://enernetenergy.com 45 New Job Postings Including: * Financial Trader * Risk Trader * Energy Accounts * Sourcing Manager _____________________________________________________ APGA Believes Market Manipulated=20 Unsatisfied by the federal government's explanation that the high gas price= s last winter were due mainly to supply and demand, the American Public Gas= Association says it believes the recent price drop is a signal that the ma= rket may have been unfairly manipulated. In a letter sent to the EIA and to= key lawmakers, APGA insists that the supply/demand explanations do not tel= l the full story. Rather, the association of municipal gas systems believes= price speculation played a major role in the dramatic upswing in prices du= ring the 2000-2001 heating season. Citing FERC's investigation into gas pri= ces at the California border, APGA said it is concerned not only about that= point, but also that market power gained through the unregulated control o= f pipeline capacity will lead to unjust and unreasonable prices for natural= gas service throughout the US. APGA says it is convinced that the true cau= se of record prices for gas will not be known unless the role played by ene= rgy traders and price speculators is examined.=20 _____________________________________________________ Need a past issue of Enerfax Daily or Enerfax GOLD. Past issues are availab= le on Sagewave at http://www.sagewave.com/D2/autolog/common/log.asp?KEY=3De= nerfax=20 ______________________________________________________ FINANCIAL SUMMARY The TSE 300 dropped 92.69 points to 7920.05 The CRB Index climbed 0.08 points to 211.62 The US Dollar decreased 0.93 points to 117.99 The Dow declined 181.49 points to 10690.13 The S?500 fell 21.73 points to 1219.87 The Nasdaq was down 77.59 points to 2044.07 July NYMEX Crude Oil rose 0.20 to 29.04 Canadian-US Exchange gained .0033 to 1.5214 Please welcome our advertisers by visiting these websites.http://www.kwi.co= m http://www.fea.com http://www.nesanet.org http://www.caminus.com http://w= ww.progas.net/wip http://risk.sungard.com/energy http://www.energy2001.eee.= doe.gov http://www.ziffenergyconferences.com=20 Enerfax Daily is North America's gas and power information source. it is se= nt to you free of charge. Enerfax Daily may be copied and redistributed in = its entirety to all interested energy professionals. Please e-mail us at en= erfax@enerfax.com, or for AOL e-mail to enerfax@enerfax.com with the e-mai= l addresses of other energy professionals that would like to be added to En= erfax Daily's growing distribution list of thousands of energy professional= s in the US and Canada, or to be removed. The information contained herein = was obtained from sources which Enerfax Daily believes to be reliable, but = does not guarantee its accuracy. Your support of our advertisers is greatly= appreciated and will keep Enerfax Daily free. Thank you. Your comments are= welcome. For information on advertising, please write to advertise@enerfax.com