Natural gas futures turned in a fairly calm regular session on Wednesday as at least one trader hypothesized that the market was sidetracked by the much-publicized Commodity Futures Trading Commission (CFTC) hearing on position limits in the energy futures arena. The prompt-month contract closed Wednesday at $4.042, up 4.1 cents from Tuesday’s finish.
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AGA Warns FERC Not to Get Sidetracked on Potential Capacity Release Abuses
The American Gas Association (AGA) told FERC recently that charges of capacity release abuses should not distract the Commission from the more important actions in its notice of proposed rulemaking (NOPR) docket on a code of conduct for gas sellers (Docket No. RM03-10).
AGA Warns FERC Not to Get Sidetracked on Potential Capacity Release Abuses
The American Gas Association (AGA) told FERC it probably would be wise not to open a whole other can of worms by addressing the recent recommendations of the Virginia Industrial Gas Users’ Association (VIGUA). AGA said the VIGUA suggestions, in particular that FERC prohibit local distribution companies from simply transferring control of their firm transportation capacity to affiliates, go far beyond the scope of the Commission’s proposed rulemaking on a marketer Code of Conduct.