Debut

Aux Sable Liquid Products Inc. said its new natural gas liquids(NGL) extraction and fractionation facilities in Channahon, IL, wentinto operation last Friday in conjunction with the start-up of serviceon the Alliance Pipeline system (see Daily GPI, Dec. 1, 2000).

It was in like a lion and out like a lamb for March’s debut asthe spot month Friday as traders took the contract higher at theopening bell only to deliver it lower throughout the rest of thesession. March finished down 1.7 cents at $2.532.

All eyes will be on the Federal Energy Regulatory Commissionthis week as it looks to unveil its final rulemaking on thelong-awaited complaint procedures. With this scheduled action, itwill clear away the first of numerous major initiatives on itsplate.

All eyes will be on the Federal Energy Regulatory Commissionthis week as it looks to unveil its final rulemaking on thelong-awaited complaint procedures. With this scheduled action, itwill clear away the first of numerous major initiatives on itsplate.

Interstate pipelines last week unveiled a “global” proposal onseasonal ratemaking and flexible terms and conditions of service atthe fourth industry pow-wow exploring major FERC gas initiativesand possible alternatives. Seasonal ratemaking, which would enablepipes and LDCs to recover more value for capacity when it’s ingreatest demand, is emerging as the industry’s front-runnerreplacement for the Commission’s much-criticized auction mechanism.

FERC is expected to announce the long-awaited outcome of itssweeping FERC First review to staff members at various “townmeetings” within the Commission beginning this Wednesday, but it’sunclear if the results will be publicly disclosed this week.

The June Nymex contract made its debut as the spot month byslipping 1.3 cents to settle $2.298 on Wednesday. Volume wasmoderate, with an estimated 40,133 contracts changing hands.