Nat Gas News – February 1, 2017

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In the News

AEP sells competitive natural gas, coal power plants

FuelFix reports: American Electric Power (AEP) has sold four competitive natural gas and coal power plants‚ a total of 5.2 GW, and plans to invest the proceeds from the sale in its regulated business. AEP completed the sale of the plants to Lightstone Generation LLC, a joint venture of Blackstone and an affiliate of ArcLight Capital Partners LLC, for about $2.1 billion. The company said it would net approximately $1.2 billion in cash after taxes, repayment of debt associated with these assets, and transaction fees. It has recorded an after-tax gain of about $130 million from the sale, the company said. The plants include the 1,186-MW natural gas– fired Lawrenceburg Generating Station in Lawrenceburg, Ind.; the 840-MW natural gas–fired Waterford Energy Center in Waterford, Ohio; the 507-MW natural gas–fired Darby Generating Station in Mount Sterling, Ohio; and the 2,665-MW coal-fired Gen. James M. Gavin Plant in Cheshire, Ohio. All the plants are located in a region served by the PJM Interconnection. For more visit powermag.com or click the following link http://bit.ly/2kSNPUK

U.S. natural gas sinks to 3-week lows

Investing.com reports: U.S. natural gas futures were down for the third session in a row on Tuesday, falling to a three-week low amid forecasts for warmer weather in key regions across the U.S. during the next few weeks. The western, central and southern U.S., apart from the Northwest, will be mostly mild the next several days, dampening demand for the heating fuel. Further souring the mood, extended weather forecasting models showed that much of the U.S. is likely to become warmer than normal after February 11. Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns. Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 83 and 94 billion cubic feet. For more on this story visit investing.com or click http://bit.ly/2kPBLYb

 

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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