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Industry News 2002 P38



EIA forecast robust growth in industrial gas demand in 2002
Government officials Wednesday predicted gas demand will revert to 2000's higher levels this year with growth in industrial demand increasing a robust 12%. Electric generation demand for gas, however, is expected to rise 3.3%, down from a 4.1% growth rate in 2001. (Ann de Rouffignac)

U.S. natural gas prices down 23.5% in February
Average U.S. monthly natural gas spot prices for February fell 23.5% from January, to $1.92/MMBtu -- 69.2% below the $6.23/MMBtu average reached in February 2001, according to data released by Platts.

New Yorkers hold rally about Indian Point nuclear plant vulnerability
People worried about the security of Indian Point Nuclear Plant held a rally Tuesday in New York to express their concerns to the governor.

UK electricity regulator sets new savings target for grid operator
The UK's grid operator has until Thursday to respond to regulators' proposals to operate the electricity transmission more efficiently and economically. Compared with the present scheme, Ofgem said National Grid Co. stands to gain greater financial rewards if it reduces costs below the target, but faces greater losses if costs are higher than the target.

DOE's FY 2003 budget includes boost for fuel cells
A boost for fuel cells and a future U.S. hydrogen economy came yesterday as the U.S. Department of Energy (DOE) unveiled its FY 2003 budget requests.

Energy analyst cuts gas price forecast; rebound expected
Energy analyst J. Marshall Adkins, one of the last remaining natural gas optimists on Wall Street, Monday threw in the towel and cut his natural gas price forecast for the year. Adkins cut his first quarter 2002 gas price forecast to $2.30/Mcf from $2.75/Mcf and his second quarter forecast to $2.88/Mcf from $3.25/Mcf.

Power Notes
National Grid Group PLC ... Niagara Mohawk ... Select Energy ... Framatome ANP Inc. ... Duke Energy Corp. ... UtiliCorp Networks Canada ... Aquila ... Southwest Gas Corp. ... Hurd Investments ... Copano Energy ... Williams Cos. Inc. ... PG&E Corp. ... Midwest Independent Transmission System Operator ... Utah Power

Supreme Court of Wisconsin denies review of Giddings/City of West Allis petition
The Supreme Court of Wisconsin denied further review of Giddings/City of West Allis petition against Wisconsin Electric.

Power price cap immaterial in the West, FERC concludes
A regional wholesale electricity price cap had little if any impact on the average spot price of power in the West this past summer, the Federal Energy Regulatory Commission said. Western utilities resold power in the spot market at an average price of $35/Mw-hr-well below the price cap of $92/Mw-hr, the staff said a report released Thursday.

Nuclear power plants set reliability, output records in 2001, NEI tells Wall Street
The U.S. nuclear energy industry believes its prospects for future growth are as good or better than ever, industry executives told Wall Street financial analysts today.

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