The threat of after-the-fact rules, prosecutions and penalties has become so great that the rule-of-thumb on many trading floors is, “If you can make money at it, don’t do it,” industry witnesses told a Federal Energy Regulatory Commission technical conference on standards of conduct and market behavior rules for the natural gas and electric markets in Chicago Friday.
Penalties
Articles from Penalties
Transportation Notes
Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO (with $1/Dth penalties for exceeding a positive daily imbalance tolerance of 5%) for Sunday, then lifted it Monday before reinstating the Stage 2 OFO with identical conditions for Tuesday’s gas day.
Transportation Notes
Pacific Gas & Electric issued a systemwide Stage 2 high-inventory OFO that takes effect Friday. It carries penalties of $1/Dth for exceeding a 5% tolerance on positive daily imbalances.
Transportation Notes
Sonat implemented an OFO Type 6 for short imbalances effective Monday until further notice. Tiered penalties apply to customers falling short of scheduled receipts by 2% or 200 dekatherms, whichever is greater. Those running long imbalances will not be penalized.
Transportation Notes
Sonat is implementing an OFO Type 6 Tuesday. Tiered penalties ranging from $1/Dth to $15/Dth will apply to net short imbalances on its contiguous system exceeding a tolerance of 2% or 200 dekatherms, whichever is less. In addition, Sonat notified shippers in several system groups Sunday that it would be allocating/limiting interruptible capacity starting either Monday or Tuesday, depending on the group. See the bulletin board for details.
Transportation Notes
Sonat is implementing an OFO Type 6 Tuesday. Tiered penalties ranging from $1/Dth to $15/Dth will apply to net short imbalances on its contiguous system exceeding a tolerance of 2% or 200 dekatherms, whichever is less. In addition, Sonat notified shippers in several system groups Sunday that it would be allocating/limiting interruptible capacity starting either Monday or Tuesday, depending on the group. See the bulletin board for details.
Transportation Notes
PG&E called a high inventory systemwide operational flow order for Sunday and Monday with 0% and 5% tolerances, respectively, and $5/Dth penalties. No OFO was in effect for Tuesday as of 4 p.m. EST Monday.
Transportation Notes
PG&E called a high inventory systemwide operational flow order for Sunday and Monday with 0% and 5% tolerances, respectively, and $5/Dth penalties. No OFO was in effect for Tuesday as of 4 p.m. EST Monday.
Transportation Notes
Pacific Gas & Electric is implementing Wednesday a new systemwide Stage 3 high-inventory OFO. It will have penalties of $5/Dth for exceeding a 2% tolerance for positive daily imbalances.
Transportation Notes
Pacific Gas & Electric is implementing Wednesday a new systemwide Stage 3 high-inventory OFO. It will have penalties of $5/Dth for exceeding a 2% tolerance for positive daily imbalances.