Urges

FERC should act to improve price reporting and transparency in the natural gas market by supporting appropriate standards for energy companies to follow when reporting trade data to publishers and pledging not to penalize companies that follow those standards, Platts said in a filing Friday (AD03-7-001).

State public utility commissions should reverse their prohibitions on fixed term contracts and allow local distribution companies (LDC) to create portfolios of short-, medium- and long-term contracts, Linda Breathitt, a former FERC commissioner and Kentucky state commissioner, said last week.

State public utility commissions should reverse their prohibitions on fixed term contracts and allow local distribution companies (LDC) to create portfolios of short-, medium- and long-term contracts, Linda Breathitt, a former FERC commissioner and Kentucky state commissioner, said Monday.

Natural Gas Intelligence (NGI) has broadly distributed a request for the cooperation of buyers and sellers in the wholesale natural gas market in increasing fixed price trading and reporting transactions to price survey publishers. “The combination of the collapse of the middle man marketing sector and the tight supply situation in the U.S., makes it imperative that all industry segments work to support the efficient operation of the wholesale market,” said the publishing company in a letter sent to several thousand buyers and sellers of natural gas.

The American Gas Association (AGA) sent a letter to U.S. senators Tuesday urging opposition to an expected amendment to the energy bill from Senator Bob Graham (D-FL) that would to remove Sec. 105. The section calls for a Comprehensive Inventory of Outer Continental Self (OCS) Oil and Natural Gas Resources.

Natural Gas Intelligence (NGI) has broadly distributed a request for the cooperation of buyers and sellers in the wholesale natural gas market in increasing fixed price trading and reporting transactions to price survey publishers. “The combination of the collapse of the middle man marketing sector and the tight supply situation in the U.S., makes it imperative that all industry segments work to support the efficient operation of the wholesale market,” said the publishing company in a letter sent to several thousand buyers and sellers of natural gas.

The Committee of Chief Risk Officers (CCRO), pointing to gaps in gas price reporting during the March bidweek, has urged energy buyers and sellers to continue to submit data on transactions to “index developers” during the transition time until its complex and detailed new rules can be put in place. At the same time, another group, the Process Gas Consumers (PGC) representing end users whose processes require the use of natural gas, has advised FERC Chairman Pat Wood it is “strongly” opposed to the federal government taking a hand in the price reporting process for natural gas.

The Committee of Chief Risk Officers (CCRO), pointing to gaps in gas price reporting during the March bidweek, has urged energy buyers and sellers to continue to submit data on transactions to “index developers” during the transition time until its complex and detailed new rules can be put in place. (Note NGI has a material interest in this subject).

Noting that the challenged oil and natural gas industry currently has a “weak reputation,” ChevronTexaco CEO David J. O’Reilly said the key to restoring confidence is through improved communications, performance and behavior.