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Bellevue, WA-based Puget Sound Energy (PSE) Thursday asked the state of Washington Utilities and Transportation Commission (UTC) for an 11.1% retail natural gas utility rate increase to cover higher wholesale costs for gas. PSE requested the hike be effective Oct. 1 under the state's purchased gas adjustment process.
Physical natural gas prices overall traded down an average of about a dime Thursday as most traders elected to get deals done prior to the release of Energy Information Administration (EIA) storage data.
The first of what is expected to be up to 50 shipments of liquefied natural gas (LNG) from Qatar arrived at the end of November at Sempra Energy's Cameron, LA, receiving terminal, according to a report from a unit of the U.S. Department of Energy (DOE). The initial shipment equated to 4.1 Bcf.
Sharply lower natural gas prices in 2012 from 2011, used under required 12-month average price tests, resulted in significant negative revisions for many domestic gas- and liquids-weighted producers, rendering some current projects uneconomic and pushing a boat load of proved undeveloped reserves (PUD) out of the five-year development window, according to an analysis by Fitch Ratings.
A blueprint for a climate change and energy bill that sponsors hope will gain the 60 votes necessary to pass the Senate in 2010 was released Thursday by the three lawmakers who have been leading the charge for legislation: Sens. John Kerry (D-MA), Lindsey Graham (R-SC) and Joe Lieberman (I-CT). Separately, Sens. Maria Cantwell (D-WA) and Susan Collins (R-ME) on Friday unveiled a competing proposal to create a "cap and dividend" structure that would give dividends to U.S. taxpayers.