News Release: January 19, 2012
Docket No. RM11-4-000
Item No. G-1
FERC Eliminates Duplicative Reporting Requirements for Gas Storage Providers
The Federal Energy Regulatory Commission (FERC) today eliminated duplicative reporting requirements for interstate and intrastate natural gas storage providers, saving the industry an estimated $400,000 annually.
In a final rule approved today, FERC will eliminate the semi-annual reporting requirements for interstate and intrastate pipeline storage providers conducting transactions under the Natural Gas Act (NGA) and section 311 of the Natural Gas Policy Act, respectively.
In September 2011, FERC issued a proposed rule on elimination of these semi-annual reporting requirements, as part of its continuing effort to streamline and update its regulations. FERC today concludes that information from other sources, such as the daily website postings, overlaps with the information required in the semi-annual reports.
The final rule adopts the proposed rule and determines that information in the daily website postings provides price transparency so that shippers may make informed purchasing decisions, and allows shippers and FERC to monitor transactions for evidence of the possible abuse of market power.
The final rule will become effective 60 days after publication in the Federal Register.