Acceptable

A recent capacity auction conducted by the Natural Gas PipelineCo. of America (NGPL) was “unreasonable and unduly preferential,”FERC said last week, but it refused to overturn the auction’sresults, as was requested by producers and marketers. It gave thepipeline the benefit of the doubt on the latter point, saying thatNGPL had “followed an arguable interpretation of its tariff,” whichhad been approved by the Commission.