In a story that ran in today’s Daily Gas Price Index. It was incorrectly stated that FERC informed El Paso Natural Gas this week that it should have a written agreement governing money pool arrangements with its parent company. The story should have said that although El Paso Natural Gas already does have a written agreement with its parent related to its cash management program, the agreement is outdated and does not identify the current name of the parent company. FERC Chief Accountant John Delaware also told the pipeline company that it should update its cash management agreement to include missing information, such as the duties and responsibilities of both the pipeline and its parent company, the specific interest rate, when the interest is to be paid and the method for calculating and allocating expenses (see Daily GPI, Sept. 12).

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