Fortnightly Magazine - February 15 1999

People

The Natural Gas Supply Association promoted John H. Sharp and Philip M. Budzik. Sharp, the association's chief lobbyist and counsel since 1988, became vice president, federal and state government affairs, and counsel. Budzik, previously director of research and analysis, was named vice president, federal regulatory affairs and technical analysis.

Bob Wentland joined Coherence Technology Company Inc. as research geophysicist. Wentland also is the manager of product development for CoherentVision(. Wentland's career includes 16 years with Shell Oil Co.

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Benchmarks

Christopher Seiple

The future contract for July delivery at cinergy remains at levels reminiscent of last year's prices. At one point the contract reached $170 per megawatt-hour, matching last year's actual average price during June and July. High forward contract prices such as this show that market traders believe that spot prices for electricity will again be sent to four-digit levels.

Three primary factors led to last year's price spikes. First, nearly 23 percent of the capacity in the Midwest was unavailable during June.

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