House Energy and Commerce Committee Chairman W.J. “Billy” Tauzin (R-LA) has called on the Department of Energy (DOE) to conduct an expedited review of ways to upgrade the current method for reporting prices on natural gas trades to energy trade newsletters, and explore the accuracy and transparency of available supply, demand, pipeline and production information and prices in order to instill greater confidence in domestic gas markets.
“As a result of concerns over manipulative practices in our nation’s energy markets, we believe it is important that the market participants have objective, timely and relevant data upon which to make buying and selling decisions,” wrote Tauzin and Rep. Gene Green (D-TX) in a letter Monday to Energy Secretary Spencer Abraham.
The lawmakers also asked the DOE to examine the “level of coordination” that would be required between the Federal Energy Regulatory Commission and the department’s Energy Information Administration (EIA) to make sure that accurate prices and other information are being “provided in a timely manner to the marketplace.”
Lastly, Tauzin and Green recommended the DOE undertake “any other relevant inquiry” that it considers necessary to achieve “efficient and transparent energy markets.” An EIA spokesman said the agency was aware of the lawmakers’ request, but he noted it had not been instructed by Abraham yet to carry out the review.
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