A FERC administrative law judge’s (ALJ) initial decision ordering refunds of pipeline charges wrongfully collected by Rockies Express LLC (REX) pipeline for lost and unaccounted for gas, if endorsed by the full Commission, could disrupt the entire pipeline industry, according to the Interstate Natural Gas Association of America (INGAA).
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Cool Temps, Gas Surplus Send August Bidweek Down 21 Cents
This year’s unseasonably cool summer in parts of the eastern United States and a natural gas supply glut brought on by the country’s shale production boom are continuing to put downward pressure on natural gas prices, as evidenced byNGI’s August Bidweek Survey. The national spot gas average for the month dropped 21 cents from July to average $3.45/MMBtu.
Northeast Leads ‘Free Fallin’ July Bidweek
With screen prices at a three-month low it’s no surprise that July bidweek came in a bit soft.NGI’s National Spot Gas Average for July bidweek came in at $3.66, a 48-cent decline from June 2013, but 94 cents higher than the July 2012 bidweek average.
NGI Daily Price Index reported last week that Potomac ElectricPower Co. hoped to sell nearly all of its power generationfacilities — with an estimated capacity of at about 6,055 MW —for an “upside price” of about $3 million. Pepco later correctedthe figure to $3 billion. Pepco further said it hoped to narrow thefield of serious bidders to between six and a dozen by March.
In NGI’s story, “El Paso Pulls Off FTC-Required Sellathon” inthe previous issue (see NGI, Jan. 10), it is erroneously statedthat CMS Energy Corp. purchased both the Sea Robin pipeline and ashare of the Destin Pipeline from El Paso Energy. CMS onlypurchased Sea Robin whereas the Destin Pipeline was sold to anundisclosed party. NGI regrets the error.