In accordance with FERC Order No. 809, Intercontinental Exchange (ICE) intends to comply by making a number of changes, which will go into effect for trade date March 31.

FERC Order No. 809 was implemented to improve coordination of wholesale natural gas and electricity market scheduling as the nation increasingly relies on gas for electric generation. It adopts the proposal to move the Timely Nomination Cycle deadline for scheduling gas transportation from 11:30 a.m. Central Clock Time (CCT) to 1 p.m. CCT. As a result, ICE said Tuesday it will be making the following changes to physical gas markets:

The opening time for all “NxDay Intra” U.S. physical gas markets will change from 11:30 a.m. CCT to 1 p.m. CCT.

Last April, the Federal Energy Regulatory Commission (FERC) took further steps to improve coordination of wholesale natural gas and electricity market scheduling (see Daily GPI, April 29, 2015; April 16, 2015). The final rule, together with prior Commission actions, are expected to help ensure the reliable and efficient operation of both the interstate natural gas pipeline and electricity systems. The rule represents the culmination of more than three years of Commission efforts to evaluate whether changes were needed to the scheduling practices of the natural gas and electric industry.

While the final rule adopted two proposals submitted by the North American Energy Standards Board to revise the interstate natural gas nomination timeline and make conforming changes to their standards, it declined to adopt the notice of proposed rulemaking to move the 9 a.m. CCT start of the gas day to 4 a.m. CCT.

“The Commission concluded that, while certain efficiencies could be achieved through a better alignment of the natural gas and electric operating days, the record in this proceeding does not justify changing the start time for the nationwide natural gas day,” FERC said last April. “The final rule recognizes that several regional efforts continue to address the misalignment between the gas day and the regional electric days.”