Just because your competitors are breaking the rules, doesn’tmean that you should be allowed to do so, FERC essentially told twoEnron affiliates last week when it denied their plea for a limitedwaiver of its capacity-release rule and the “shipper must havetitle” policy. The affiliates contend they sought the waiver sothey could compete with other suppliers that allegedly are ignoringthe title rule in order to evade paying certain taxes in New YorkState.
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Take Your Pick Among Up, Down, Flat Markets
The overall cash market was far from a model of consistencyWednesday. While prices rose by up to a nickel at Gulf Coastpoints, Northeast citygates were no more than flat to up a penny.In contrast, while Michigan and Chicago-area citygates saw gains of2-3 cents, field prices in the Midcontinent were mostly flat around$2.10. However, a Midcontinent producer found it “a littlesurprising” that trading ended on a modestly strong note with latedeals tending to be near the top of small ranges.
May 21, 1998
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