As part of FERC’s investigation into energy prices and potential manipulation in the western gas and power markets, it has requested some general information on the methodology Natural Gas Intelligence uses in collecting, calculating and publishing natural gas price information (see Intelligence Press, Inc.’s web site: http://intelligencepress.com/methodology.html). The Commission has requested this information by June 4 under Docket No. PA02-2-000.
Requests
Articles from Requests
FERC Requests Information on NGI Pricing Methodology
As part of FERC’s investigation into energy prices and potential manipulation in the western gas and power markets, it has requested some general information on the methodology Natural Gas Intelligence uses in collecting, calculating and publishing natural gas price information (see Intelligence Press, Inc.’s web site: http://intelligencepress.com/methodology.html). The Commission has requested this information by June 4 under Docket No. PA02-2-000.
NCNG Requests 16% Rate Hike to Offset Upgrades
Marking its first petition for a rate increase in seven years, Progress Energy subsidiary, NCNG, said Monday that it has filed with the North Carolina Utilities Commission (NCUC), seeking an increase in natural gas service rates for its customers. The company said it is seeking to recover the cost of serving its 176,000 residential, commercial, industrial and municipal customers.
FERC Budget Assumes ‘Full Transition’ to Competitive Markets
FERC’s 2003 budget, released last week, requests nearly $200 million to operate, but more important, expects to offer a “new way of operating” in the aftermath of the electricity crisis in the Western United States last year. The Commission said that given the California experience, “it is now clear that our primary emphasis must be to facilitate a full transition to competitive wholesale energy markets as soon as possible.”
FERC Enjoined from Enforcing OCS Reporting Requirement
The U.S. District Court for the District of Columbia has enjoined the Federal Energy Regulatory Commission (FERC) from enforcing its open-ended reporting requirement on natural gas pipelines operating offshore, ruling that the agency far exceeded its authority under the Outer Continental Shelf Lands Act (OCSLA) when it took this action nearly two years ago.
AGA Will Continue Storage Data Until May; EIA to Use Same Regions
The American Gas Association (AGA) confirmed that it will continue its weekly storage report until May 1, following requests by the U.S. Department of Energy, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission. To further smooth the transition, the Energy Information Administration (EIA) said in a separate announcement that when it takes up the survey in May it will provide weekly estimates of working gas levels in the same three regions of the United States for which AGA has provided estimates (see NGI, Nov. 19).
AGA Will Continue Storage Data Until May; EIA to Use Same Regions
The American Gas Association (AGA) confirmed that it will continue its weekly storage report until May 1, following requests by the U.S. Department of Energy, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission (see Daily GPI, Dec. 3). To further smooth the transition, the Energy Information Administration (EIA) said in a separate announcement that when it takes up the survey in May it will provide weekly estimates of working gas levels in the same three regions of the United States for which AGA has provided estimates.
Nymex to Offer Large Order Execution Trading
In reaction to requests from both the commercial and large speculative trading fund communities, Nymex is ready to launch — possibly as soon as Friday — large order execution (LOX) trading for natural gas, which attempts to match buyers and sellers willing to trade lots of between 250 and 5,000 contracts. Similar to the current open-outcry trading for smaller lots, LOX trading will be conducted in the pit and will be supported by a LOX bookkeeper who will announce quotes, match buyers with sellers and facilitate the order execution.
PG&E GT-NW Plans Lateral Across Washington State
PG&E Gas Transmission-Northwest (GTN) said it received market requests for about three times the capacity on a proposed lateral that would cross Washington and compete with Northwest Pipeline for rapidly expanding power generation markets in the western half of the state along the I-5 highway corridor. GTN closed its open season for the Washington Lateral Project June 22. It was the third open season for a GTN pipeline expansion this year. Meanwhile Northwest Pipeline has four expansions of its own planned for the region.
PG&E GT-NW Plans Lateral Across Washington State
PG&E Gas Transmission-Northwest (GTN) said it received market requests for about three times the capacity on a proposed lateral that would cross Washington and compete with Northwest Pipeline for rapidly expanding power generation markets in the western half of the state along the I-5 highway corridor. GTN closed its open season for the Washington Lateral Project June 22. It was the third open season for a GTN pipeline expansion this year. Meanwhile Northwest Pipeline has four expansions of its own planned for the region.