Former FERC Chairman Martin L. Allday has expressed “deepconcern” about the Commission’s proposals to lift the price cap onshort-term capacity and to negotiate terms and conditions oftransportation service, saying they could threaten the successstory of Order 636. Allday’s Commission was the architect of therule that led to the restructuring of the natural gas industry.
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Futures Continue Higher on Short-Covering
A combination of stronger cash prices met with and conspiredwith constructive technical factors to lift the futures market forthe 4th straight day Tuesday. November managed a 5.9 cent rally tosettle at $2.202, but the big news of the day centered on the outmonths which posted similarly impressive advances, bringing the3-month strip up 6 cents. Estimated volume was a healthy 69, 463 onthe day.
October 21, 1998
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