February 6, 2007 Release
Highlights
·
The unseasonably warm temperatures
in the
·
We have lowered our price
projection for WTI crude oil from our last Outlook. WTI crude oil, which
averaged $66.00 per barrel in 2006, is projected to average about $59.50 per
barrel in 2007 and $62.50 per barrel in 2008 (West Texas
Intermediate Crude Oil Price). The Henry Hub natural
gas price, which averaged $6.90 per mcf in 2006, is projected to average
$7.10 mcf in 2007 and $7.60 in 2008.
·
Total
·
Projections of
NYC
natgas spike underscores pipeline constraints
Thu Jan 25, 2007
5:38pm ET
NEW YORK, Jan 25 (Reuters) - Natural gas prices tripled
in the New York City spot market this week in the midst of a cold blast,
underscoring the need for additional pipeline capacity for the key Northeast
market, dealers said Thursday.
Spot natural gas prices for next-day delivery on Transco
Zone 6 at the New York city gate <NG-NYCZ6> jumped to $30 per million
British thermal units on Wednesday, more than three times Tuesday's price and
their highest level in two years, traders and brokers
said.......
Last month, the Federal Energy
Regulatory Commission approved a project for a 182-mile gas pipeline that would
deliver new gas supplies from Canada to the New York City area to ease the
bottleneck.
The Millennium project was one of
several lines approved by the FERC that comprise the "Northeast" project, worth
around $1 billion and involving 265 miles of new pipe. The integrated projects
are scheduled to go into service in November 2008, providing up to 525 million
cubic feet per day.
A 'Gas OPEC'? Mostly a Pipe
Dream by Jason Bush
Russian President Putin has spoken to
"An interesting idea." That's what Russia's President
Vladimir Putin, speaking at an annual press conference for Russian and foreign
journalists on Feb. 1, called the possibility of a "gas OPEC"—an international
consortium or organization that would co-ordinate gas prices the same way that
OPEC regulates world oil prices. "We are already trying to coordinate our
actions on the markets of third countries. And we also intend to do it in
future," Putin added.
Ominous
words for global energy consumers? Putin was quick to emphasize that
Putin's
spoke a couple of days after the idea was raised by Ayatollah Ali Khamenei,
religious leader of
Oil near $59, but
rally loses steam http://www.reuters.com/article/hotStocksNews/idUSSP11628220070206
Tue Feb 6, 2007 11:52AM EST
By Janet
McBride
The onset of cold weather in the
U.S. Northeast, the world's biggest heating oil market, and a shift in
investment flows has lifted oil from a 20-month low of $49.90 on January 18 and
brought it into the danger zone for consumer nations'
economies.
WSI Energycast Outlook Calls for Mild
Temperatures in
January 23, 2007 10:14 AM Eastern
Time
WSI and ESAI issue an update of
special interest to energy traders
According
to WSI seasonal forecaster Dr. Todd Crawford, “While
the late January pattern will be characterized by more frequent visits from
Arctic air masses, our objective model guidance suggests that the recent pattern
flip to a northeastern Pacific ridge may be temporary, possibly driven by the
recent strong pulse of the Madden-Julian Oscillation. We feel that a milder
pattern will re-emerge by early or mid-February and will generally persist into
March.”
ISO
Power Grid Operator Provides Tips
and Simple Steps to Help Consumers Become More Energy
Efficient
To help
consumers jump start their efficiency efforts, ISO New England has created the
“Test Your Energy IQ” quiz. The
quiz, available at http://www.takecharge-ne.org/energy_quiz.html,
tests consumer knowledge of home energy use and provides energy saving tips.
These tips can become a part of consumers’ New Year’s resolutions to become more energy efficient, helping to
save electricity and money both at home and at work.
The top
five Take Charge New Englandsm resolutions(a) are:
1. Change Your Lighting –
change your incandescent light bulbs and fixtures to energy
efficient, ENERGY STAR®-qualified compact
fluorescent bulbs and fixtures, which can save you more than $60 a year.
2. Buy ENERGY STAR® Appliances and Consumer Electronics – look for the ENERGY STAR® on household appliances and
consumer electronics products. Qualified products use less energy without
sacrificing quality or performance.
3. Activate Power Management Features on Your Computers
–- ENERGY STAR® computers
and monitors save energy only when the power management features are activated,
so make sure to activate power management on your computer. Additionally, turn
off your computer and monitor when not in use.
4. Control Your Climate –
set your thermostat as high as possible in summer and as low as
possible in winter. A suggested temperature range for summer is between 74°F and 78°F. In the winter, set your
thermostat between 65°F and 68°F. Better yet, utilize ENERGY STAR® qualified
heating and air conditioning equipment, ensure that your home is well insulated,
doors and windows are ENERGY STAR qualified and weather sealed, and use a
programmable thermostat.
5. Use Power Strips –
plug home electronics, such as TVs and DVD players, into power
strips; turn the power strips off when the equipment is not in use (TVs and DVDs
players in standby mode still use several watts of power).
(a) Sources
include Take Charge New Englandsm partner ENERGY STAR® and the
U.S. Department of Energy’s Consumer’s Guide to Energy Efficiency and Renewable Energy.
“The year 2006 was unprecedented not only in terms of
setting a record for peak energy demand, but also in the growing recognition
among policy makers and energy consumers that energy efficiency is a key to them
lowering their bills, ensuring a more reliable energy system, and reducing the
harmful emissions from power generation,” noted Susan
Coakley, executive director of Northeast Energy Efficiency Partnerships (NEEP),
a non-profit organization that has partnered with Take Charge New Englandsm. “We join with ISO New
England in reminding residents and businesses alike that they have the power to
take control of their energy futures by taking advantage of energy efficient
technologies and practices.”
Nuclear plant Indian
Point's power level stable, spokesman says
February 6, 2007, 9:33 AM
EST http://www.newsday.com/news/local/wire/newyork/ny-bc-ny--indianpoint0206feb06,0,611928.story?coll=ny-region-apnewyork
WASHINGTON (AP) _ The Indian Point nuclear power station in
Westchester County was operating normally Tuesday morning, a day after low
cooling water levels led to a declaration of an "unusual event" _ the lowest
category of emergency.
Officials at the Buchanan, N.Y. facility blamed the low
water level on a combination of cold weather, low tides on the Hudson River and
debris clogging screens used to filter the water the plant draws in from the
river.
Entergy Nuclear Northeast spokesman Jim Steets said
Tuesday morning that the screens had been "backwashed" and water levels were no
longer at a worrisome level, though he said he did not know precisely what the
water level was.
Wall
Street Green Trading
(April 16 & 17
2007) Reuters Building
3 Times Square, New York City http://www.hedgeconnection.com/atlas/jump.php?url=www.hedgeconnection.com%2Fatlas%2Fevent_viewer.php%3Feid%3D2
2007
promises to be a year of accelerated market development for both emissions and
renewable energy trading building on the success of the EU ETS and other trading
initiatives. In
Speakers
from investment banking, hedge funds, venture capital, insurance, and the
brokerage community will present on the trading opportunities in alternative
energy, project finance, carbon market developments, REC trading and demand
response programs.
Renewable Energy
Teleconference Series http://www.acore.org/renewableenergyinfo/
Welcome to
the monthly Renewable Energy Seminar and Teleconference Series brought to you by
the American Council On Renewable Energy
(ACORE) in collaboration
with the Renewable Energy Resources Committee of the American Bar
Association SEER Section
& Renewable Energy Committee of the Energy Bar
Association.
These monthly
seminars provide an opportunity to network and discuss the subject matter with
renewable energy lawyers, policy makers, and business
experts.
The programming is open to ACORE
members,
In the
February 14, 2007 teleconference, speakers will address "A New Framework for Developing and Financing Wind
Energy Projects."
Hear about
energy efficiency, renewable energy, and demand response program opportunities
from representatives of NYSERDA, NJBPU, LIPA, FEMP, and GSA. Financial
incentives and technical assistance are available to help support implementation
of energy efficiency, load management, distributed generation, and renewable
projects at your respective facilities. For more information see the workshop
agenda (PDF 72
KB). Download
Adobe Reader. FOR SECURITY PURPOSES, ALL ATTENDEES MUST REGISTER IN
ADVANCE.
Register online. For
more information, please contact Brian Magden, GSA, at brian.magden@gsa.gov or
212-264-0591.
Please reach out to Michael with any
questions.
All the best,
Michael
Sanfilippo
Director of Energy
Services
Great Forest
Inc.
(212)
779-4757