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ETP's Rover to enter full service in 2018; Railroads report higher coal revenues

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Insight Weekly: Labor market recovery hurdles; power market integration; nonbank M&A hunt

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ESG & Technology: Impacts and Implications

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Q&A: Q2'21 Power Forecast: Overheated Power Markets are Here – Who Wins, Who Loses, and Why?

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Essential Energy Insights - October 2021


ETP's Rover to enter full service in 2018; Railroads report higher coal revenues

Top News

Companies mum on interest in Santee Cooper, utility's stake in V.C. Summer

South Carolina Gov. Henry McMaster has reportedly identified three Southeast investor-owned utilities interested in purchasing Santee Cooper or its stake in the abandoned V.C. Summer nuclear project. These potential suitors, however, declined to confirm the talks.

Energy Transfer expects Rover to be fully operational early in 2018

Energy Transfer Partners LP said it will have an upturn in its financial results once its Rover natural gas pipeline is in service across the Midwest, not only because it will start generating cash but because it will make it easier to attract new customers to its other projects.

Major railroads see YOY boost in coal revenue in Q2'17

Major railroads continued to see coal revenue boost their overall earnings in the second quarter due to factors including higher natural gas prices. The year-over-year gains followed the trend of the first quarter.

Power

* The National Conference of State Legislatures signed off on a resolution advising Congress to "fully fund" the U.S. Department of Energy's energy efficiency standards program. The resolution, which passed on a voice vote Aug. 7 at the National Conference of State Legislatures, or NCSL, legislative summit in Boston, urged Congress and the DOE's Office of Energy and Renewable Energy to continue the "highly successful" program.

* South Carolina Electric & Gas Co. and Santee Cooper canceled construction of the V.C. Summer expansion project "without warning," contractor Westinghouse Electric Co. LLC told the bankruptcy court, the Pittsburgh Post-Gazette reports.

* The California Energy Commission signed off on a proposal to revamp a previously approved natural gas-fired power plant in Palmdale, Calif.

* Salt River Project and the Electric Power Research Institute are studying the effect of solar and other customer-generated energy sources on the grid, according to a new release. The study seeks to understand how advanced inverters can help maintain grid reliability as solar installations increase.

* Nova Scotia Power Inc. is investing nearly C$4 million to upgrade the Lequille Hydroelectric System to ensure its reliability, safety and efficiency, according to a news release. The 13-MW facility started operating in 1968.

Natural gas/midstream

* Environmental groups asked Maryland to review and reject a small natural gas lateral proposed by Columbia Gas Transmission LLC to serve West Virginia gas utility Mountaineer Gas Co., Columbia Gas' parent, TransCanada Corp., pointed to its record in the state and said it welcomes the scrutiny.

* British Columbia's New Democratic Party government is expected to announce this Thursday its next steps regarding Kinder Morgan Inc.'s Trans Mountain pipeline expansion, which they campaigned against, CBC News reports.

* Moody's may downgrade Plains All American Pipeline LP credit into junk status, after the partnership's supply and logistics segment reported a steep decline and management proposed a potential dividend cut that drove an Aug. 8 stock selloff.

* Minnesota Gov. Mark Dayton directed the state Department of Commerce to extend the deadline for publishing the environmental impact statement for Enbridge Inc.'s proposed Line 3 oil pipeline on Aug. 17. This extension will "provide the Public Utilities Commission with the best possible information on which to base its decision," Dayton said in a statement.

* Permico Energia LLC plans to start construction of a $1.8 billion NGL pipeline from the Permian Basin and Eagle Ford shale regions to Corpus Christi in 2018, Reuters reports.

* The board of directors of Sanchez Midstream Partners LP declared a quarterly cash distribution of 44.41 cents per unit, representing a 6.2% increase over the partnership's August 2016 cash distribution, according to a news release.

* The U.S. Bureau of Land Management plans to offer 45 parcels, totaling 72,843.75 acres, in the High Desert District of Wyoming during its December quarterly oil and gas lease sale, according to a news release.

Coal

* Hallador Energy Co. has added to a growing number of voices criticizing CSX Corp. for recent coal delivery issues.

* West Virginia Gov. Jim Justice is requesting $4.5 billion a year in federal funding from President Donald Trump to help coal mined in the Eastern U.S., adding that his proposal is a "homeland security incentive," The Wall Street Journal reports.

* U.S. Sen. Edward Markey, D-Mass., plans to reintroduce legislation aimed at increasing taxpayer returns on coal production from federal lands in the wake of the U.S. Department of Interior's recent decision to scrap an Obama-era rule with a similar goal.

* Coal India Ltd. plans to close about 100 unprofitable mines in the next two to three years, The Economic Times reports.

Commodities

* California Low-Carbon Fuel Standard, or LCFS, credit prices were down $1 in July to post an average of $76.00/tonne, as trading volumes dropped on the month.

* The price of day-ahead power could unravel in some cases Aug. 10, amid pressure from the anticipation of predominantly diminished demand at the close of the workweek. Traders will also keep abreast of natural gas market activity. Gaining 6.1 cents in the prior session, NYMEX September natural gas futures were trending higher again ahead of the opening bell Thursday, tacking on 0.9 cent to trade at $2.892/MMBtu at 6:30 a.m. ET on light short covering ahead of the mid-morning release of the latest storage data from the U.S. Energy Information Administration.

* After extending 6.1 cents higher in the prior session to a finish at $2.883/MMBtu, NYMEX September natural gas futures were near unchanged in consolidation overnight ahead of the Thursday, Aug. 10, open and the midmorning release of the weekly storage data that is poised to become the next major catalyst for change. At 6:53 a.m. ET, the contract was 2.0 cents higher at $2.903/MMBtu, while trading from $2.872/MMBtu to $2.905/MMBtu.

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New from RRA

* Montana-Dakota Utilities, a division of MDU Resources Group Inc., filed with the North Dakota Public Service Commission on July 21, for a $5.9 million (5.4%) permanent gas rate increase.

Quoted

"[I]n 2009, EPA promulgated an endangerment finding, which we have sustained. That finding triggered an affirmative statutory obligation to regulate greenhouse gases," Circuit Judges Patricia Millett and David Tatel, wrote in a concurrence to a ruling extending the stay on the Clean Power Plan, warning the agency that it is legally obligated to regulate greenhouse gas emissions.

The day ahead

* The following companies will hold their second-quarter 2017 earnings conference calls: Great Plains Energy Inc. at 9 a.m. ET; Keyera Corp., Northland Power Inc. and Sunworks Inc. at 10 a.m. ET; and TransAlta Corp. at 11 a.m. ET.

* Just Energy Group Inc. will hold its fiscal first-quarter 2018 earnings conference call at 10 a.m. ET.

* Early morning futures indicators pointed to a lower opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

The Daily Dose is updated as of 7:30 a.m. ET. Some links may require registration or a subscription.