Inconsistencies

FERC Commissioner Philip Moeller Tuesday said a formal rulemaking may be required to resolve the inconsistencies in scheduling so that natural gas pipelines can better serve power generation markets. This is opposite of the opinion held by Chairman Jon Wellinghoff, who earlier this month suggested that a rulemaking was not the way to go (see Daily GPI, Sept.6).

A federal appeals court in Washington, DC, on Friday sent back to FERC for further explanation a case in which Burlington Resources Oil & Gas Co. LP claimed that it was not responsible for payment of refunds for Kansas ad valorem taxes due to an indemnity clause in take-or-pay settlement agreements with Northern Natural Gas and Panhandle Eastern Pipeline.

A federal appeals court in Washington, DC, on Friday sent back to FERC for further explanation a case in which Burlington Resources Oil & Gas Co. LP claimed that it was not responsible for payment of refunds for Kansas ad valorem taxes due to an indemnity clause in take-or-pay settlement agreements with Northern Natural Gas and Panhandle Eastern Pipeline.

In a market with some inconsistencies, the overall price direction Thursday was overwhelmingly down, but scattered flat to higher points in the Gulf Coast and Northeast ran contrary to the general trend. Excluding those exceptions, losses ranged from about a nickel to nearly 40 cents.