The Federal Energy Regulatory Commission has deferred for an additional five days — until its next regular meeting on May 5 — the publication of a staff report on whether price indices used in pipeline tariffs are in compliance with the agency’s new mandated standards for price reporting and reflect sufficient liquidity at referenced pipeline locations.
The report on price indices called for in three pipeline tariff cases, Northern Natural Gas Co. (RP03-533), Transcontinental Gas Pipe Line Corp. (RP03-540), and Natural Gas Pipeline Co. of America (RP99-176-089), initially had been due six months after the order was issued last August and then was delayed until April 30 (see Daily GPI, Aug. 6, 2003).
The Commission accepted tariff sheets making changes in natural gas price indices referred to in the tariffs of each company, but suspended the tariff sheets, permitting them to become effective, but subject in all three cases to further action by the Commission following receipt of a report from the Commission Staff.
The report is expected to include the results of the Commission’s third industry survey seeking to discover the level of participation in the published price surveys for natural gas and electricity and the degree to which the industry relies on the indices.
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