Matt Potter 3:30 p.m., July 29
- Community Blog
- Encanto Gas Holder
More SDG&E Energy Rebates Coming?
Word in the power industry has it that there is a glut of natural gas in the nation's supply system.
Time will tell if the recent Sempra Energy moves to divest itself of the RBS Sempra Commodities joint venture assets have been the wisest of things to do. RBS Sempra Metals has been a member of gold bullion exchanges in both Dubai and London, and gold is now in record price territory. It appears that the financial sector purchaser of many RBS Sempra Commodities assets is now in a better position to dictate prices in the markets going forward.
With natural gas futures in question during the current NG glut and word that China's interest rate increase earlier this week was to moderate its own rather impressive growth rate, any Sempra Energy contracts for NG deliveries going forward should be of analytical interest to energy sector investors.
Here in San Diego this year, there has been at least one CPUC-ordered rebate to consumers for over-estimated energy purchasing costs. In light of the NG glut, it is reasonable to expect that SDG&E estimates on next year's NG purchases to be also higher than justified by then-current prices for delivery to SDG&E.
The U-T is running several articles this morning (Oct. 22) on NG in the business section.
For disclosure, I have no investor financial interest in any Sempra Energy holdings, including SDG&E, nor any interests in Royal Bank of Scotland or any of its holdings, nor in JP Morgan. I was a federal crime victim in UNITED STATES OF AMERICA V. SDG&E (2007, retrial dismissed in 2009) and the matter of court costs in ENCANTO GAS HOLDER VICTIMS V. SDG&E payable to defendants remains outstanding with a Sempra Energy/SDG&E promise to donate the amount received to a lobbying group opposed to frivolous lawsuits against corporate interests.
For those interested in the frivolous nature of numerous federal, state, and individual legal actions regarding the Encanto Gas Holder site decommissioning, try a search for "SDG&E guilty" using Google or other any major search engine.