The Federal Energy Regulatory Commission, in a 2-to-1 split vote, has agreed to prospectively prohibit interstate pipelines from entering into negotiated-rate transactions with shippers which reference “basis,” or the difference between the natural gas price indexes at two points, citing the potential for pipelines to manipulate spot gas prices.
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FERC Bars Negotiated-Rate Deals Tied to Basis Differentials
The Federal Energy Regulatory Commission, in a 2-to-1 split vote, has agreed to prospectively prohibit interstate pipelines from entering into negotiated-rate transactions with shippers which reference “basis,” or the difference between the natural gas price indexes at two points, citing the potential for pipelines to manipulate spot gas prices.
July 29, 2003
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