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Producers and consumers of natural gas support free market price reporting. (News).
WASHINGTON. DC--An industry-led price reporting process remains the most effective way to provide the natural gas industry with price transparency.
However, significant improvements need to be made to restore confidence in the market, the Natural Gas Supply Association (NGSA) stated on April 24 in a release issued jointly with the Independent Petroleum Association of America (IPAA) and the Process Gas Consumers (PGC).
"We recognize that confidence in current price indices has suffered due to the inappropriate activities of a few gas traders," said Mike Stice, president of Gas & Power at ConocoPhillips and Chair of NGSA's Issues Committee. "The index reporting process must create transparency and prevent manipulation."
Stice represented NGSA at the Federal Energy Regulatory Commission (FERC) technical conference on natural gas price formation held April 24.
Specifically, the joint position states that companies should include all reportable cash transactions--described as those that allow the index developer to correctly represent the ...
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- Newspaper article from: Journal-World (Lawrence, Kansas) (via Knight-Ridder/Tribune Business News) June 11, 2003 700+ words
...the winter heating season. Natural gas is more than $6 per thousand...information reported in many wholesale natural gas price indices. "We need a transparent and...to increase availability of natural gas. He also said more areas need...
