www.suntimes.com February 27, 2003 BY TAMMY WILLIAMSON Business Reporter

When it comes to your gas bill, March isn't just going to come in like a lion. It's going to bite like one.

Fuel prices are rising amid a pending war against Iraq and striking oil workers in Venezuela. March is shaping up to be the most expensive heating month of all winter, based on local companies' regulatory filings.

That's unusual--typically, during a winter heating season, prices are highest in January and February, because it's coldest and demand is highest.

"There isn't just one thing that is driving" the increases, said Dave Wiers, an energy consultant with Sieben Energy Associates.

The nation's spot oil prices this week jumped to the highest point seen in years following a government prediction that the first two weeks of March are expected to be colder than normal, he said.

Here's how all of this will hit your pocketbook in March:

• Nicor Gas customers will pay about 64 cents per therm, the highest price for natural gas those customers have paid in two years. That's also a 16 percent increase over February.

• Peoples Gas customers will pay 55.49 cents per therm, a nearly 9 percent increase from this month and the highest per-therm rate since June 2000.

• Customers of North Shore Gas, a sister company to Peoples, will pay 56 cents per therm, an 11 percent increase from February.

Those prices are for the commodity and are passed along to customers without a markup, under Illinois law. The cost of distribution of gas is unchanged, and that is affected by how much gas is used.

Other factors are conspiring to drive up fuel prices.

This winter has been 29 percent colder than a year ago in the areas of the country that mainly use natural gas for heating--the Midwest, the Mid-Atlantic and the Northeast, according to the Natural Gas Supply Association, an industry trade group.

That has drawn down natural gas supplies more quickly than experts predicted at the beginning of winter.

A potential war with Iraq is driving oil prices, and natural gas prices tend to follow oil because sometimes natural gas is a replacement for some oil, Weirs said.

Peoples and Nicor do buy some gas in the summertime and draw down from storage as demand requires it. As supply dwindles, the utilities are faced with the cost of replacing the gas. And to a limited extent, gas companies buy gas supplies on the spot markets, too.

"It's safe to say, we're looking at higher gas prices for some time," said Nicor spokesman Don Ingle. "There's a lot of factors making us nervous."

Ingle said Nicor is encouraging customers to take advantage of its budget billing plan, which averages bills over 12 months. It also sets up payment plans for customers who have fallen behind on their bills, he said.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

Venezuelan security forces have stepped up security measures at embassies and diplomatic missions across Caracas following the explosion of two bombs, at the Spanish Embassy and the Colombian Consulate in Caracas earlier this week.

National Guard (GN) and federal agents have been posted outside diplomatic missions and security forces have advanced investigations into the bombings in a bid to uncover evidence that may lead to the capture of the culprits.

According to Deputy Foreign (MRE) Minister Arevelo Mendez, the Colombian government is sending its own team to investigate the explosion, but its scope will be limited to the site of the Consulate.  "The Colombian government is going to send a team to internally investigate the consulate building hit by the explosion ... but so far we haven't discussed collaborating."

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

The Caracas Stock Index (IBC) rose by 2.05% or Bs.163.57 points to 8,149.66 in strong trading.

The Industrial Index fell 62.28 points to 6,924.68 and the Financial Index added 831.53 to 14,305.98.

A total of Bs.1.9 billion worth of stocks were traded in 54 transactions as two stocks rose, four fell and 13 traded flat.

The bulk of trading centered on Mercantil Servicios B, which ended flat on Bs.1,300.00.

CANTV fell Bs.10.25 to Bs.2,350.00 and Electricidad de Caracas lost Bs.3.95 to Bs.151.05.  Banco Provincial led the market higher, rising Bs.86.90 to Bs.394.90.

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

A statement from the US Carter Center ... which had played a key role in attempts to find a peaceful resolution to the Venezuelan political crisis ... has strongly criticized the "rapid deterioration in Venezuela" and "deplores the escalation of violence."

The Center is now calling on the international community to redouble its support for initiatives aimed at producing "a peaceful, democratic solution to the present crisis."

The statement also called on President Hugo Chavez Frias, his government, the opposition and media bosses to sign an agreement stating their support for a peaceful means of resolving the crisis. "We believe that verbal violence and threatening tone of political leaders, amplified by the media, encourage violent behavior."

www.vheadline.com Posted: Thursday, February 27, 2003 By: Robert Rudnicki

Venezuelan Federation of Chambers of Commerce & Industry (Fedecamaras) president Carlos Fernandez is accusing the government of pressuring the courts into taking action against opposition leaders, including himself.

Fernandez comments came during a press conference at his home in Valencia where he is currently under house arrest while awaiting trial for several charges, including treason, for his role as strike leader of the two month long stoppage that started on December 2 and was called off in all but the petroleum sector early this month after failing to achieve its objective of ousting President Hugo Chavez Frias and his government.

Fernandez called on the judiciary to carry out independent and impartial investigations "that will lead to truthful results" without any pressure from any party.  The Fedecamaras leader also thanked his supporters for the demonstrations and protests across the country demanding his release.