Undertaking

The staff of the Federal Energy Regulatory Commission is undertaking a “comprehensive” review of the reporting requirements for natural gas pipelines, the electricity industry and oil pipelines to determine which still are needed and which aren’t.

The American Gas Association (AGA) said it is undertaking a review of the procedures for performing revisions to its storage data, following an inquiry by the Commodity Futures Trading Commission (CFTC) about the second largest revision ever to its storage data on Aug. 22. The +47 Bcf net revision prompted a sharp drop in futures prices and an angry response from natural gas traders and marketers, who use the information to help determine available supply and to project price changes.

The American Gas Association (AGA) said it is undertaking a review of the procedures for performing revisions to its storage data, following an inquiry by the Commodity Futures Trading Commission (CFTC) about the second largest revision ever to its storage data last week. The +47 Bcf net revision prompted an angry response from natural gas traders and marketers, who use the information to help determine available supply and to project price changes.

Citing the breadth of the undertaking as the reason, six tradeassociations last week jointly asked FERC to extend by 74 days thedeadline for the gas industry to respond to the major notice ofproposed rulemaking (NOPR) and notice of inquiry (NOI) that wereissued in July.