Dynegy Inc. (DYN) has reported a net loss of $212 million, or 25 cents per share in the third quarter 2009, compared to a net income of $605 million, or 72 cents per share in the year-ago quarter. The net loss in the reported quarter was primarily driven by asset impairment charges and mark-to-market losses. The company recorded mark-to-market losses of $128 million ($78 million after tax), compared to mark-to-market gains of $889 million ($542 million after tax) in the year-ago quarter.  In the reported quarter, however, adjusted earnings rose to $388 million, compared to $269 million in the year-ago quarter. The growth was primarily driven by the sale and assignment of a multi-year power sales contract, higher capacity and tolling revenues and higher realized energy prices in the Midwest.  On the revenue front, the company witnessed a slide by more than half, to $673 million ...

Consumers Energy, the principal subsidiary of CMS Energy (CMS), upgraded its natural gas facilities near Dewitt, Michigan. It has spent around $15 million to install a new 2.1 mile 20-inch natural gas line. The company has also set up a new system station near Dewitt and renovated the Lansing and Dewitt city gate stations, which checks gas line pressure in the region.   This move is a part of the "Growing Forward" initiative, under which Consumers Energy plans to invest in excess of $6 billion over the next five years in its utility operations. This will ensure reliable and cost-efficient gas supply to around 1.7 million customers in Lower Peninsula, Michigan and cope with growing energy needs of the region. Consumers Energy has one of the largest underground natural gas storage facilities in the U.S.   Shares of CMS Energy closed at $13.36 on Thursday, trading at ...

Despite severe economic turmoil, demand for oil is rising significantly—in fact, it will land somewhere in the range of $150 to $157, according to Roger Wiegand, editor of Trader Tracks. In this exclusive interview with The Energy Report, Wiegand takes a close look at the untamed commodities bull and names some of his favorite buys.

The Energy Report: How does you think oil will play out in current economic scenario?

Roger Wiegand: The big sell-off during the past month or two was triggered when the funds bailed out. Roughly 50% of the CRB—the commodities index—is in oil. When oil moves, it moves the index. The sell-off brought oil down from a high of $147 to roughly $90. It bounced back up to $108 to $110; $108.50 is a good support and resistance level for oil today. The next price up should be $112.50, then $122.50, followed by a couple of more …