Reps. Sam Graves (R-MO) and John Barrow (D-GA) have introduced legislation to “bring some stability, predictability and reliability” back into the natural gas market by, among other things, imposing tighter daily gas futures trading limits and setting new futures position reporting requirements. The congressmen claim that recent gas price spikes are a result of increased speculative trading that must be reined in.
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Legislation Would Set Trading Limits on Gas Futures, Impose New Position Reporting
Reps. Sam Graves (R-MO) and John Barrow (D-GA) have introduced legislation to “bring some stability, predictability and reliability” back into the natural gas market by, among other things, imposing tighter daily gas futures trading limits and setting new futures position reporting requirements. The congressmen claim that recent gas price spikes are a result of increased speculative trading that must be reined in.
Wal-Mart Launches Power-Buying Desk for Texas Facilities
Wal-Mart for the last four months has been procuring power for its stores and distribution centers in the Electric Reliability Council of Texas (ERCOT) market through a power-buying desk, and the giant retailer is not ruling out applying this strategy to other power markets in the U.S., although a Wal-Mart official said that the company doesn’t have any imminent plans to do so.
FERC OMOI Chief: New England ‘Dodged a Bullet’ During Cold Snap
New England “dodged a bullet” in terms of power reliability during a cold snap earlier this year, William Hederman, chief of FERC’s Office of Market Oversight and Investigations (OMOI), told an audience of state utility regulators last Tuesday.
FERC’s Massey Favors Standards to Assure Reliability of Price Indexes
In an effort to restore price certainty in the markets, FERC at a minimum should implement standards requiring jurisdictional companies to show the agency that the natural gas price indexes referenced in their tariffs and contracts are reliable, said Commissioner William Massey last Wednesday.
FERC’s Massey Favors Standards to Assure Reliability of Price Indexes
In an effort to restore price certainty in the markets, FERC at a minimum should implement standards requiring jurisdictional companies to show the agency that the natural gas price indexes referenced in their tariffs and contracts are reliable, said Commissioner William Massey Wednesday.
NERC: Generation Able to Meet Power Demand This Winter
The North American Electric Reliability Council (NERC) on Friday said that generating resources will be adequate to meet electricity demands throughout North America this winter, even though peak demand in North America for this winter is projected to be 9.2% higher than last winter.
ERCOT: TX Transmission Can Handle Competition
With the New Year ringing in the launch of retail electric competition in Texas, a key executive with the Electric Reliability Council of Texas (ERCOT) last Wednesday expressed confidence that the state’s transmission system will be up to meeting the demands of electricity deregulation.
ERCOT Optimistic on Meeting Electric Pilot Deadline
A spokesperson for the Electric Reliability Council of Texas Inc. (ERCOT) yesterday expressed optimism that ERCOT will be able to meet a Friday deadline to complete additional interactive testing with utilities and new market competitors before it begins operating as a single control area, which will in turn clear the way for a full ramp-up of the state’s deregulation pilot. But ERCOT’s Heather Tindall also refused to rule out further delays if the council determines that its systems are not up to snuff by the time the latest deadline rolls around July 20.
FERC Okays NW Natural Interstate Storage Service
In an effort to improve the reliability of the Pacific Northwest’s natural gas supply, the Federal Energy Regulatory Commission has approved an application by NW Natural Gas Co. to provide storage services to the interstate gas market. With FERC’s ruling, NW Natural will be able to use the surplus of its 10 Bcf of underground storage capacity at Mist, OR, to help address the region’s energy challenges.