Spot Market

To boost awareness that San Diego County lacks any proven natural gas, oil, hydro or coal reserves, San Diego Gas & Electric Chairman Tom Page constantly reminds company shareholders and ratepayers that San Diego County sits in the midst of an "energy desert." Consequently, SDG&E always has looked elsewhere for the natural gas that it burns to generate electricity.

The Federal Energy Regulatory Commission on Monday dismissed a manipulation complaint brought by California's grid operator against Powerex Corp., the electricity marketing arm of British Columbia's provincial utility. The Folsom-based California Independent System Operator alleged that from October 2004 to March Powerex collected $18.5 million in incentive payments even though no energy was delivered to the California spot market.

California officials have agreed to purchase power for years to come at prices higher than those now being paid in the daily spot market, according to confidential government records. The 38 long-term contracts, totaling nearly $43 billion, could saddle consumers with unnecessarily high utility rates for years if recently declining prices represent a trend in the volatile electricity market. Gov.

Dana Merrill looked out over 10 acres of ripening cabernet sauvignon grapes near Paso Robles and worried: Would anyone buy them? "I think we might have a couple of hundred acres of cab and another several hundred of syrah that we will just drop on the ground this year," said Merrill, who manages a total of 6,000 acres of Central Coast wine grape plantings for 15 clients.

On the New York Mercantile Exchange, West Texas Intermediate--the benchmark U.S. crude--climbed 38 cents to $16.78 a barrel. The domestic crude gained 35 cents to $16.60 a barrel on the U.S. Gulf Coast spot market. On the European spot market, where oil is sold to the highest bidder, Britain's North Sea Brent crude rose 25 cents to $16.20 a barrel. Brent fell through the $16 barrier Wednesday for the first time since OPEC agreed Dec. 20 to cut production by 7.2% to 15.8 million barrels a day.

Spot Market in Gardena sells sandwiches, beer, groceries and lottery tickets--lots of lottery tickets. So many lottery tickets that the store itself could fund a couple of school systems with all the lottery money officials say it has raised for education. Owner Brian Kunibe, 34, was honored by state lottery officials last week as the retailer of the year for his work in selling and promoting the tickets. Since the lottery started six years ago, Spot Market has sold $5.

On the New York Mercantile Exchange, West Texas intermediate, the benchmark U.S. crude, rose by 14 cents to $19.41 a barrel. And it rose 20 cents to $19.40 a barrel on the U.S. Gulf Coast spot market, where oil is sold to the highest bidder. On the European spot market, Britain's North Sea Brent crude shot up 25 cents to $18.85 a barrel. Analysts cited an American Petroleum Institute report that U.S. gasoline inventories declined sharply last week as production and imports of the fuel fell. U.S.

The Radnor, Pa.-based oil company said it will pay $27.50 for a barrel of West Texas Intermediate, an increase of 25 cents. Sun Oil said it raised the price in response to market conditions. Crude oil prices firmed on the spot market as oil companies continued to build crude oil inventories. Crude oil for October delivery closed at $27.97 a barrel, up 9 cents.

The Federal Energy Regulatory Commission on Monday dismissed a manipulation complaint brought by California's grid operator against Powerex Corp., the electricity marketing arm of British Columbia's provincial utility. The Folsom-based California Independent System Operator alleged that from October 2004 to March Powerex collected $18.5 million in incentive payments even though no energy was delivered to the California spot market.

California officials have agreed to purchase power for years to come at prices higher than those now being paid in the daily spot market, according to confidential government records. The 38 long-term contracts, totaling nearly $43 billion, could saddle consumers with unnecessarily high utility rates for years if recently declining prices represent a trend in the volatile electricity market. Gov.

California has electrical rates 50% higher than most other states. An investigation by the California Public Utilities Commission in 1995-96 and the passage of AB1890 by the Legislature has set in motion the deregulation of the electrical industry in California. The present plants built in the 1940s and early 1950s and the high costs of nuclear units are largely responsible for our high costs. While deregulation will be painful in the short run, it will make basic industry more competitive in our state.

Spot Market in Gardena sells sandwiches, beer, groceries and lottery tickets--lots of lottery tickets. So many lottery tickets that the store itself could fund a couple of school systems with all the lottery money officials say it has raised for education. Owner Brian Kunibe, 34, was honored by state lottery officials last week as the retailer of the year for his work in selling and promoting the tickets. Since the lottery started six years ago, Spot Market has sold $5.

In response to your Aug. 9 editorial "The Oil Shortage That Need Not Be," we would like to state that we in the oil industry realize many motorists are angry about rising gasoline prices and that they are wondering whether the large oil companies have acted responsibly. The answer to that is yes, even though that may not be widely understood by the public. No one can speak for every refiner, every wholesaler or every retailer. In the entire nationwide system, there may be some evidence of overreaction to a volatile market.

On the New York Mercantile Exchange, West Texas intermediate, the benchmark U.S. crude, rose by 14 cents to $19.41 a barrel. And it rose 20 cents to $19.40 a barrel on the U.S. Gulf Coast spot market, where oil is sold to the highest bidder. On the European spot market, Britain's North Sea Brent crude shot up 25 cents to $18.85 a barrel. Analysts cited an American Petroleum Institute report that U.S. gasoline inventories declined sharply last week as production and imports of the fuel fell. U.S.

California has electrical rates 50% higher than most other states. An investigation by the California Public Utilities Commission in 1995-96 and the passage of AB1890 by the Legislature has set in motion the deregulation of the electrical industry in California. The present plants built in the 1940s and early 1950s and the high costs of nuclear units are largely responsible for our high costs. While deregulation will be painful in the short run, it will make basic industry more competitive in our state.

In response to your Aug. 9 editorial "The Oil Shortage That Need Not Be," we would like to state that we in the oil industry realize many motorists are angry about rising gasoline prices and that they are wondering whether the large oil companies have acted responsibly. The answer to that is yes, even though that may not be widely understood by the public. No one can speak for every refiner, every wholesaler or every retailer. In the entire nationwide system, there may be some evidence of overreaction to a volatile market.

On the New York Mercantile Exchange, West Texas Intermediate--the benchmark U.S. crude--climbed 38 cents to $16.78 a barrel. The domestic crude gained 35 cents to $16.60 a barrel on the U.S. Gulf Coast spot market. On the European spot market, where oil is sold to the highest bidder, Britain's North Sea Brent crude rose 25 cents to $16.20 a barrel. Brent fell through the $16 barrier Wednesday for the first time since OPEC agreed Dec. 20 to cut production by 7.2% to 15.8 million barrels a day.

To boost awareness that San Diego County lacks any proven natural gas, oil, hydro or coal reserves, San Diego Gas & Electric Chairman Tom Page constantly reminds company shareholders and ratepayers that San Diego County sits in the midst of an "energy desert." Consequently, SDG&E always has looked elsewhere for the natural gas that it burns to generate electricity.