82_FR_27925 82 FR 27809 - Supplemental Notice of Technical Conference

82 FR 27809 - Supplemental Notice of Technical Conference

DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission

Federal Register Volume 82, Issue 116 (June 19, 2017)

Page Range27809-27812
FR Document2017-12671

Federal Register, Volume 82 Issue 116 (Monday, June 19, 2017) 
[Federal Register Volume 82, Number 116 (Monday, June 19, 2017)]
[Notices]
[Pages 27809-27812]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-12671]


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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission


Supplemental Notice of Technical Conference

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                                                   Docket Nos.
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Developments in Natural Gas Index       AD17-12-000
 Liquidity and Transparency.
Price Discovery in Natural Gas and      PL03-3-000
 Electric Markets.
Natural Gas Price Formation...........  AD03-7-000
ISO New England Inc...................  ER17-795-000
                                        ER17-795-001

[[Page 27810]]

 
Kinetica Energy Express, LLC..........  RP16-1299-000
                                        RP16-1299-001
                                        RP16-1299-002
New York Independent System Operator,   ER17-386-001
 Inc.                                   ER17-386-002
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    As announced in the Notice issued May 10, 2017,\1\ Federal Energy 
Regulatory Commission (Commission) staff will hold a technical 
conference on Thursday June 29, 2017 from 9:00 a.m. to 5:30 p.m. to 
discuss the state of liquidity and transparency in the physical natural 
gas markets. The agenda and list of panel participants for this 
conference are attached. The conference is free of charge and open to 
the public. Commission members may participate in the conference.
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    \1\ Developments in Natural Gas Index Liquidity and 
Transparency, Docket No. AD17-12-000 (May 10, 2017) (Notice of 
Technical Conference) (https://elibrary.ferc.gov/IDMWS/common/opennat.asp?fileID=14586688).
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    If they have not already done so, those who plan to attend the 
technical conference are strongly encouraged to complete the 
registration form located at: https://www.ferc.gov/whats-new/registration/06-29-17-form.asp. The dress code for the conference will 
be business casual.
    The technical conference will be transcribed. Transcripts will be 
available from Ace Reporting Company and may be purchased online at 
www.acefederal.com, or by phone at (202) 347-3700. In addition, there 
will be a free webcast of the conference. The webcast will allow 
persons to listen, but not participate, and will be accessible at 
www.ferc.gov Calendar of Events. The Capitol Connection provides 
technical support for the webcast and offers the option of listening to 
the technical conference via phone-bridge for a fee; visit 
www.CapitolConnection.org or call (703) 993-3100 with any webcast 
questions.
    Commission conferences are accessible under section 508 of the 
Rehabilitation Act of 1973. For accessibility accommodations, please 
send an email to [email protected] or call toll free 1-866-208-
3372 (voice) or 202-208-1659 (TTY), or send a FAX to 202-208-2106 with 
the required accommodations.
    For more information about the technical conference, please 
contact:

Sarah McKinley (Logistics), Federal Energy Regulatory Commission, 888 
First Street NE., Washington, DC 20426, (202) 502-8368, 
[email protected].
Eric Primosch (Technical), Federal Energy Regulatory Commission, 888 
First Street NE., Washington, DC 20426, (202) 502-6483, 
[email protected].
Omar Bustami (Legal), Federal Energy Regulatory Commission, 888 First 
Street NE., Washington, DC 20426, (202) 502-6214, 
[email protected].

    Dated: June 13, 2017
Kimberly D. Bose,
Secretary.

Technical Conference on Developments in Natural Gas Index Liquidity and 
Transparency

Docket No. AD17-12-000

June 29, 2017
Agenda
    The purpose of the staff-led Technical Conference on Developments 
in Natural Gas Index Liquidity and Transparency is to solicit feedback 
and develop a record regarding index robustness and to discuss what, if 
anything, the industry and/or the Commission could do to increase 
transparency and support greater robustness in natural gas price 
formation. The technical conference will examine: (1) The current state 
of natural gas index liquidity and voluntary reporting to index 
developers; (2) the use of natural gas indices over time; and (3) 
possible actions that the industry and/or the Commission could take to 
increase transparency and support greater robustness in natural gas 
price formation.
9:00 a.m.-9:15 a.m. Welcome and Opening Remarks
9:15 a.m.-9:45 a.m. Natural Gas Index Presentation (Commission Staff)
    Staff will present an overview of natural gas transactions using 
FERC Form No. 552 data. The presentation will review trends in next-day 
and next-month transactions, the number of companies that report to 
index developers, and the volume of fixed-priced transactions that 
contribute to natural gas indices. Staff will also present an overview 
of natural gas indices referenced in jurisdictional tariffs.
9:45 a.m.-12:00 p.m. Panel 1: Robustness and Liquidity of Natural Gas 
Indices
    Most price indices are supplied as a commercial service by 
publishers of daily, weekly, or monthly newsletters. Price indices play 
a pivotal role in natural gas market price formation, and are commonly 
referenced in physical and financial transactions. This panel will 
examine the robustness and liquidity of natural gas indices, the degree 
of industry reliance on index-based contracts rather than fixed-price 
contracts, the decline in fixed-price reporting to index developers, 
and whether natural gas indices accurately reflect market conditions.
    Panelists are encouraged to respond to the following:
    1. Describe the current trends in natural gas fixed-price and 
physical basis trading that you believe positively or negatively impact 
price formation in the natural gas market, detailing any observable 
shifts in liquidity. Are there differences in market fundamentals, 
procedures, or policies which disproportionately impact either overall 
or regional liquidity?
    2. How have the volume and quality of next-day and next-month 
fixed-price and physical basis transaction reporting changed? In 
addition, describe any changes in other information used to form 
natural gas indices. Are there market, regulatory, or other factors 
that discourage reporting? If so, are there ways to incent reporting?
    3. For indices published by index developers and referenced in FERC 
jurisdictional tariffs, the Commission requires index developers to 
comply with five standards: (1) Code of conduct and confidentiality; 
(2) completeness; (3) data verification, error correction, and 
monitoring; (4) verifiability; and (5) availability and 
accessibility.\2\ How have index developers' methodologies and 
practices changed since these standards were developed? Are the 
standards established in 2003 still relevant and sufficient to allow 
for healthy and robust natural gas price formation in today's 
environment?
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    \2\ Policy Statement on Natural Gas and Electric Price Indices, 
104 FERC ] 61,121, at P 33 (2003).
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    4. Is there a need for additional transparency regarding natural 
gas index price assessments and the level of liquidity underlying each 
natural gas index published by index developers? Should common minimum 
liquidity thresholds be defined? If so, who should define them, and 
what should be the mechanism for accomplishing this? For example, 
should index developers provide information about which indices are 
illiquid? What kind of coordination would be necessary, and what kind 
of information would be shared, and with whom, when a given natural gas 
price index is deemed illiquid?

Panelists

 Mark Callahan, Editorial Director for Platts North America, 
S&P Global
 J.C. Kneale, Vice President--North American Natural Gas, Power 
& NGL Markets InterContinental Exchange

[[Page 27811]]

 Euan Craik, Chief Executive Officer, Argus Media
 Tom Haywood, Editor--Natural Gas Week, Energy Intelligence
 Dexter Steis, Executive Publisher, Natural Gas Intelligence
 Vince Kaminski, Professor in Practice of Energy, Rice 
University
 Orlando Alvarez, President and CEO, BP Energy Company
 Edward Fortunato, Managing Director of Analytics for 
Constellation Energy, Exelon Corporation
12:00 p.m.-1:00 p.m. Break
1:00 p.m.-3:30 p.m. Panel 2: Role of Natural Gas Indices in Price 
Formation
    Natural gas indices are used by industry for a variety of purposes, 
such as settling bilateral contracts of varying terms, basis swap 
futures, index swap futures, swing swap futures, and calendar and basis 
spreads. Natural gas indices also are used in FERC jurisdictional 
interstate natural gas pipeline and wholesale electric transmission 
tariffs for various purposes. For example, indices are used in many 
interstate natural gas pipeline tariffs to settle imbalances or 
determine penalties. In addition, State Commissions use indices as 
benchmarks in reviewing the prudence of natural gas purchases by local 
distribution companies. Finally, some Regional Transmission 
Organizations and Independent System Operators (RTOs/ISOs) rely on 
natural gas indices to develop reference levels for market power 
mitigation. Given the prevalence of indices in the natural gas and 
electric industries, indices must be robust and have the confidence of 
market participants for such markets to function properly and 
efficiently.
    Panelists are encouraged to respond to the following:
    1. Describe current industry uses of physical natural gas price 
indices. Are natural gas price indices sufficiently reflecting the 
locational value of natural gas to permit decision-making by those with 
an interest in the value of natural gas such as: End users, producers, 
marketers, and other buyers and sellers?
    2. Are there improvements that should be made to increase the 
likelihood that natural gas indices will reflect the market value at 
particular locations? For example, could index publishers provide 
increased transparency when there are insufficient transactions to 
formulate an index price? What additional information could signal that 
market activity is sufficiently robust to create accurate prices?
    3. For RTOs/ISOs that rely on natural gas indices to develop 
reference levels for market power mitigation, do you have concerns 
about the robustness or liquidity of the natural gas indices used in 
your tariffs? If so, please explain why.
    4. Recognizing that the use of natural gas indices in FERC 
jurisdictional tariffs is different from their use in commercial 
transactions, the Commission established liquidity thresholds for 
indices referenced in jurisdictional tariffs.\3\ Do these thresholds 
accurately capture minimum liquidity thresholds over an appropriate 
time period? Should the liquidity of indices referenced in FERC 
jurisdictional tariffs be reassessed periodically, and if so, who 
should assess it, and what should be the mechanism for accomplishing 
this? What kind of coordination would be necessary, and what kind of 
information should be shared and with whom, should a given index be 
deemed illiquid?

    \3\ Price Discovery in Natural Gas and Electric Markets, 109 
FERC ] 61,184 at P60 (2004).
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Panelists

 Paul Greenwood, Vice President-Americas, Africa, and Asia 
Pacific New Markets for ExxonMobil, Natural Gas Supply Association 
Representative
 Pallas LeeVanSchaik, External Market Monitor, Potomac 
Economics
 Guillermo Bautista Alderete, Director--Market Analysis and 
Forecasting, California ISO
 Christopher Hamlen, Regulatory Counsel, ISO-NE
 George Wayne, Director of Account Services for the Western 
Pipelines, Kinder Morgan
 Edward Fortunato, Managing Director of Analytics for 
Constellation Energy, Exelon Corporation
 Corey Grindal, Senior Vice President--Gas Supply, Cheniere 
Energy
 David Louw, Division Director--Risk Management and Compliance, 
Macquarie Energy
 Donnie Sharp, Senior Natural Gas Supply Coordinator for 
Huntsville Utilities, American Public Gas Association Representative
 Lee Bennett, Manager, Pricing and Business Analysis for 
Transcanada, on behalf of Interstate Natural Gas Association of America 
Representative
 Susan Bergles, Assistant General Counsel, American Gas 
Association
3:30 p.m.-3:45 p.m. Break
3:45 p.m.-5:25 p.m. Panel 3: Options To Increase Transparency and 
Liquidity of Natural Gas Indices
    Should action be taken to foster more meaningful, reliable, and 
transparent price information in natural gas markets? What changes may 
be necessary to incent voluntary price reporting and improve the 
accuracy, reliability, and transparency of natural gas price indices? 
Discuss the degree to which the level of voluntary reporting and other 
developments within the commercial service model of natural gas index 
development impact the robustness of natural gas indices.
    Panelists are encouraged to respond to the following:
    1. Is there a need to develop industry wide liquidity thresholds? 
While the Commission maintains certain liquidity thresholds for indices 
referenced in jurisdictional tariffs, should standards be developed 
that would apply to other uses of natural gas indices? If so, how can 
such standards be developed and by whom? Can this be addressed through 
voluntary consensus or through other regulatory processes? Are there 
legal, commercial, or technical impediments to doing so?
    2. Should the Commission take steps to provide greater natural gas 
price transparency and market information, promote index developer 
competition, and enhance confidence in natural gas price formation 
through increased transparency and accessibility of natural gas index 
information? For example, should the Commission consider exercising its 
authority under section 23(a)(1) through (3) of the Natural Gas Act to 
require market participants to report price forming transactions to 
index developers?
    3. Is index data sufficiently available and transparent? Does the 
commercial service model negatively or positively impact price 
formation? What actions, policies, or trends have impacted price 
discovery? Is there additional information market participants need to 
ensure robust natural gas price formation? Who should provide that 
information? How would that information be shared?

Panelists

 Greg Leonard, Vice President, Cornerstone Research
 Orlando Alvarez, President and CEO, BP Energy Company
 Mark Callahan, Editorial Director for Platts North America, 
S&P Global
 J.C. Kneale, Vice President--North American Natural Gas, Power 
& NGL Markets InterContinental Exchange

[[Page 27812]]

 Vince Kaminski, Professor in Practice of Energy, Rice 
University
 Curtis Moffatt, Deputy General Counsel and Vice President, 
Kinder Morgan
 Joe Bowring, President, Monitoring Analytics
 Corey Grindal, Senior Vice President--Gas Supply, Cheniere 
Energy
 Tom Haywood, Editor--Natural Gas Week, Energy Intelligence
 Drew Fossum, Senior Vice President and General Counsel, 
Tenaska Inc.
 Joan Dreskin, Vice President and General Counsel, Interstate 
Natural Gas Association of America
5:25 p.m.-5:30 p.m. Closing Remarks
[FR Doc. 2017-12671 Filed 6-16-17; 8:45 am]
 BILLING CODE 6717-01-P

Federal Register / Vol. 82, No. 116 / Monday, June 19, 2017 / Notices 27809 Background DEPARTMENT OF ENERGY 546–3669; or Steve Padula, McMillen Jacobs and Associates, 500 Broadway On January 24, 2017, the Commission Federal Energy Regulatory Street, Suite 606, Vancouver, WA issued a Notice of Intent to Prepare an Commission 98660, phone: (360) 576–3579. Environmental Assessment for the FERC Contact: Kim Nguyen, (202) [Project No. 14568–002] Proposed Sabine Pass Expansion Project 502–6105. and Request for Comments on CB Energy Park, LLC; Notice of Deadline for filing comments, motions Environmental Issues (NOI). The NOI Preliminary Permit Application to intervene, competing applications was sent to affected landowners; federal, Accepted For Filing And Soliciting (without notices of intent), or notices of state, and local government agencies; Comments, Motions To Intervene, And intent to file competing applications: 60 elected officials; Native American tribes; Competing Applications days from the issuance of this notice. other interested parties; and local Competing applications and notices of libraries and newspapers. In response to On June 1, 2017, CB Energy Park, LLC intent must meet the requirements of 18 filed an application for a preliminary CFR 4.36. the NOI, the Commission received a permit, pursuant to section 4(f) of the comment from a stakeholder stating the The Commission strongly encourages Federal Power Act, proposing to study U.S. Army Corps of Engineers permits electronic filing. Please file comments, the feasibility of the Coffin Butte and authorizations that would be motions to intervene, notices of intent, Pumped Storage Project (project) to be necessary for the various Project and competing applications using the located near Two Dot in Wheatland and components. The Commission also Commission’s eFiling system at http:// Meagher Counties, Montana. The sole received a comment letter from the www.ferc.gov/docs-filing/efiling.asp. purpose of a preliminary permit, if Louisiana Department of Wildlife and Commenters can submit brief comments issued, is to grant the permit holder Fisheries stating the Project would have up to 6,000 characters, without prior priority to file a license application minimal or no long-term adverse registration, using the eComment system during the permit term. A preliminary impacts on wetland functions and a at http://www.ferc.gov/docs-filing/ permit does not authorize the permit comment from the Choctaw Nation of ecomment.asp. You must include your holder to perform any land-disturbing name and contact information at the end Oklahoma requesting to receive a copy activities or otherwise enter upon lands of your comments. For assistance, of the EA and the cultural resources or waters owned by others without the please contact FERC Online Support at survey. owners’ express permission. The proposed project would consist of FERCOnlineSupport@ferc.gov, (866) Additional Information the following: 208–3676 (toll free), or (202) 502–8659 (TTY). In lieu of electronic filing, please In order to receive notification of the Lower Reservoir send a paper copy to: Secretary, Federal issuance of the EA and to keep track of (1) A 5,000-foot-long, 50-foot-high Energy Regulatory Commission, 888 all formal issuances and submittals in earth and roller compacted concrete First Street NE., Washington, DC 20426. specific dockets, the Commission offers embankment; (2) a 50-acre lower The first page of any filing should a free service called eSubscription. This reservoir with a storage capacity of include docket number P–14568–002. can reduce the amount of time you 2,500-acre-foot at an elevation of 5,200 More information about this project, spend researching proceedings by feet; (3) a temporary pump and pipeline including a copy of the application, can automatically providing you with to bring initial fill water to the lower be viewed or printed on the ‘‘eLibrary’’ notification of these filings, document reservoir from Martinsdale Reservoir; (4) link of Commission’s Web site at http:// summaries, and direct links to the a new well; (5) a powerhouse containing www.ferc.gov/docs-filing/elibary.asp. documents. Go to www.ferc.gov/docs- two Ternary 125-megawatt (MW) Enter the docket number (P–14568) in filing/esubscription.asp. turbine/generator units, for a total the docket number field to access the Additional information about the installed capacity of 250 MW; and (6) an document. For assistance, contact FERC approximately 10-mile-long, 230- Online Support. Project is available from the Commission’s Office of External Affairs kilovolt transmission line connecting to Dated: June 13, 2017. at (866) 208–FERC or on the FERC Web the proposed Gordon Butte substation. Kimberly D. Bose, site (www.ferc.gov). Using the eLibrary Upper Reservoir Secretary. link, select General Search from the [FR Doc. 2017–12669 Filed 6–16–17; 8:45 am] (1) A 4,600-foot-long, 50-foot-high eLibrary menu, enter the selected date earth and roller compacted concrete BILLING CODE 6717–01–P range and Docket Number excluding the embankment; (2) a 50-acre upper last three digits (i.e., CP17–22), and reservoir with a storage capacity of follow the instructions. For assistance DEPARTMENT OF ENERGY 2,500-acre-foot at an elevation of 6,240 with access to eLibrary, the helpline can feet; (3) a 12-foot-diameter, 4,000-foot- be reached at (866) 208–3676, TTY (202) Federal Energy Regulatory long steel-lined tunnel connecting the Commission 502–8659, or at FERCOnlineSupport@ two reservoirs; and (4) appurtenant ferc.gov. The eLibrary link on the FERC facilities. Supplemental Notice of Technical Web site also provides access to the The estimated annual generation of Conference texts of formal documents issued by the asabaliauskas on DSKBBXCHB2PROD with NOTICES the project would be 880,000 megawatt- Commission, such as orders, notices, hours. Docket Nos. and rule makings. Applicant Contact: Carl Borgquist, CB Developments in Natural Gas AD17–12–000 Dated: June 8, 2017. Energy Park, LLC, 209 South Wilson Index Liquidity and Trans- Avenue, P.O. Box 309, Bozeman, MT parency. Kimberly D. Bose, Price Discovery in Natural PL03–3–000 59771, phone: (406) 585–3006; Martin J. Secretary. Gas and Electric Markets. Weber, P.E., Stanley Consultants, Inc., Natural Gas Price Formation AD03–7–000 [FR Doc. 2017–12677 Filed 6–16–17; 8:45 am] 5775 Wayzata Blvd., No. 300, ISO New England Inc ............ ER17–795–000 BILLING CODE 6717–01–P Minneapolis, MN 55416, phone: (952) ER17–795–001 VerDate Sep<11>2014 17:09 Jun 16, 2017 Jkt 241001 PO 00000 Frm 00028 Fmt 4703 Sfmt 4703 E:\FR\FM\19JNN1.SGM 19JNN1

27810 Federal Register / Vol. 82, No. 116 / Monday, June 19, 2017 / Notices Docket Nos. 20426, (202) 502–6483, based contracts rather than fixed-price Eric.Primosch@ferc.gov. contracts, the decline in fixed-price Kinetica Energy Express, RP16–1299–000 Omar Bustami (Legal), Federal Energy LLC. RP16–1299–001 reporting to index developers, and RP16–1299–002 Regulatory Commission, 888 First whether natural gas indices accurately New York Independent Sys- ER17–386–001 Street NE., Washington, DC 20426, reflect market conditions. tem Operator, Inc. ER17–386–002 (202) 502–6214, Omar.Bustami@ Panelists are encouraged to respond to ferc.gov. the following: As announced in the Notice issued 1. Describe the current trends in Dated: June 13, 2017 May 10, 2017,1 Federal Energy natural gas fixed-price and physical Regulatory Commission (Commission) Kimberly D. Bose, Secretary. basis trading that you believe positively staff will hold a technical conference on or negatively impact price formation in Thursday June 29, 2017 from 9:00 a.m. Technical Conference on Developments the natural gas market, detailing any to 5:30 p.m. to discuss the state of in Natural Gas Index Liquidity and observable shifts in liquidity. Are there liquidity and transparency in the Transparency differences in market fundamentals, physical natural gas markets. The Docket No. AD17–12–000 procedures, or policies which agenda and list of panel participants for disproportionately impact either overall this conference are attached. The June 29, 2017 or regional liquidity? conference is free of charge and open to Agenda 2. How have the volume and quality the public. Commission members may The purpose of the staff-led Technical of next-day and next-month fixed-price participate in the conference. If they have not already done so, those Conference on Developments in Natural and physical basis transaction reporting who plan to attend the technical Gas Index Liquidity and Transparency changed? In addition, describe any conference are strongly encouraged to is to solicit feedback and develop a changes in other information used to complete the registration form located record regarding index robustness and form natural gas indices. Are there at: https://www.ferc.gov/whats-new/ to discuss what, if anything, the market, regulatory, or other factors that registration/06-29-17-form.asp. The industry and/or the Commission could discourage reporting? If so, are there dress code for the conference will be do to increase transparency and support ways to incent reporting? business casual. greater robustness in natural gas price 3. For indices published by index The technical conference will be formation. The technical conference developers and referenced in FERC transcribed. Transcripts will be will examine: (1) The current state of jurisdictional tariffs, the Commission available from Ace Reporting Company natural gas index liquidity and requires index developers to comply and may be purchased online at voluntary reporting to index developers; with five standards: (1) Code of conduct www.acefederal.com, or by phone at (2) the use of natural gas indices over and confidentiality; (2) completeness; (202) 347–3700. In addition, there will time; and (3) possible actions that the (3) data verification, error correction, be a free webcast of the conference. The industry and/or the Commission could and monitoring; (4) verifiability; and (5) webcast will allow persons to listen, but take to increase transparency and availability and accessibility.2 How not participate, and will be accessible at support greater robustness in natural gas have index developers’ methodologies www.ferc.gov Calendar of Events. The price formation. and practices changed since these Capitol Connection provides technical standards were developed? Are the support for the webcast and offers the 9:00 a.m.–9:15 a.m. Welcome and standards established in 2003 still option of listening to the technical Opening Remarks relevant and sufficient to allow for conference via phone-bridge for a fee; 9:15 a.m.–9:45 a.m. Natural Gas Index healthy and robust natural gas price visit www.CapitolConnection.org or call Presentation (Commission Staff) formation in today’s environment? (703) 993–3100 with any webcast Staff will present an overview of 4. Is there a need for additional questions. natural gas transactions using FERC transparency regarding natural gas Commission conferences are Form No. 552 data. The presentation index price assessments and the level of accessible under section 508 of the will review trends in next-day and next- liquidity underlying each natural gas Rehabilitation Act of 1973. For month transactions, the number of index published by index developers? accessibility accommodations, please companies that report to index Should common minimum liquidity send an email to accessibility@ferc.gov developers, and the volume of fixed- thresholds be defined? If so, who should or call toll free 1–866–208–3372 (voice) priced transactions that contribute to define them, and what should be the or 202–208–1659 (TTY), or send a FAX natural gas indices. Staff will also mechanism for accomplishing this? For to 202–208–2106 with the required present an overview of natural gas example, should index developers accommodations. indices referenced in jurisdictional provide information about which For more information about the tariffs. indices are illiquid? What kind of technical conference, please contact: coordination would be necessary, and Sarah McKinley (Logistics), Federal 9:45 a.m.–12:00 p.m. Panel 1: what kind of information would be Energy Regulatory Commission, 888 Robustness and Liquidity of Natural Gas shared, and with whom, when a given First Street NE., Washington, DC Indices natural gas price index is deemed 20426, (202) 502–8368, Most price indices are supplied as a illiquid? Sarah.Mckinley@ferc.gov. asabaliauskas on DSKBBXCHB2PROD with NOTICES commercial service by publishers of Panelists Eric Primosch (Technical), Federal daily, weekly, or monthly newsletters. • Mark Callahan, Editorial Director for Energy Regulatory Commission, 888 Price indices play a pivotal role in Platts North America, S&P Global First Street NE., Washington, DC natural gas market price formation, and • J.C. Kneale, Vice President—North are commonly referenced in physical American Natural Gas, Power & NGL 1 Developments in Natural Gas Index Liquidity and financial transactions. This panel Markets InterContinental Exchange and Transparency, Docket No. AD17–12–000 (May 10, 2017) (Notice of Technical Conference) (https:// will examine the robustness and elibrary.ferc.gov/IDMWS/common/ liquidity of natural gas indices, the 2 Policy Statement on Natural Gas and Electric opennat.asp?fileID=14586688). degree of industry reliance on index- Price Indices, 104 FERC ¶ 61,121, at P 33 (2003). VerDate Sep<11>2014 17:09 Jun 16, 2017 Jkt 241001 PO 00000 Frm 00029 Fmt 4703 Sfmt 4703 E:\FR\FM\19JNN1.SGM 19JNN1

Federal Register / Vol. 82, No. 116 / Monday, June 19, 2017 / Notices 27811 • Euan Craik, Chief Executive Officer, for market power mitigation, do you 3:30 p.m.–3:45 p.m. Break Argus Media have concerns about the robustness or 3:45 p.m.–5:25 p.m. Panel 3: Options • Tom Haywood, Editor—Natural Gas liquidity of the natural gas indices used To Increase Transparency and Liquidity Week, Energy Intelligence in your tariffs? If so, please explain why. • Dexter Steis, Executive Publisher, of Natural Gas Indices Natural Gas Intelligence 4. Recognizing that the use of natural Should action be taken to foster more • Vince Kaminski, Professor in Practice gas indices in FERC jurisdictional tariffs meaningful, reliable, and transparent of Energy, Rice University is different from their use in commercial price information in natural gas • Orlando Alvarez, President and CEO, transactions, the Commission markets? What changes may be BP Energy Company established liquidity thresholds for necessary to incent voluntary price • Edward Fortunato, Managing Director indices referenced in jurisdictional reporting and improve the accuracy, of Analytics for Constellation Energy, tariffs.3 Do these thresholds accurately reliability, and transparency of natural Exelon Corporation capture minimum liquidity thresholds gas price indices? Discuss the degree to 12:00 p.m.–1:00 p.m. Break over an appropriate time period? Should which the level of voluntary reporting the liquidity of indices referenced in and other developments within the 1:00 p.m.–3:30 p.m. Panel 2: Role of FERC jurisdictional tariffs be reassessed commercial service model of natural gas Natural Gas Indices in Price Formation periodically, and if so, who should index development impact the Natural gas indices are used by assess it, and what should be the robustness of natural gas indices. industry for a variety of purposes, such mechanism for accomplishing this? Panelists are encouraged to respond to as settling bilateral contracts of varying What kind of coordination would be the following: terms, basis swap futures, index swap necessary, and what kind of information 1. Is there a need to develop industry futures, swing swap futures, and should be shared and with whom, wide liquidity thresholds? While the calendar and basis spreads. Natural gas should a given index be deemed Commission maintains certain liquidity indices also are used in FERC illiquid? thresholds for indices referenced in jurisdictional interstate natural gas jurisdictional tariffs, should standards pipeline and wholesale electric Panelists be developed that would apply to other transmission tariffs for various uses of natural gas indices? If so, how purposes. For example, indices are used • Paul Greenwood, Vice President- can such standards be developed and by in many interstate natural gas pipeline Americas, Africa, and Asia Pacific whom? Can this be addressed through tariffs to settle imbalances or determine New Markets for ExxonMobil, Natural voluntary consensus or through other penalties. In addition, State Gas Supply Association regulatory processes? Are there legal, Commissions use indices as benchmarks Representative commercial, or technical impediments in reviewing the prudence of natural gas • Pallas LeeVanSchaik, External Market to doing so? purchases by local distribution Monitor, Potomac Economics 2. Should the Commission take steps companies. Finally, some Regional to provide greater natural gas price Transmission Organizations and • Guillermo Bautista Alderete, transparency and market information, Independent System Operators (RTOs/ Director—Market Analysis and promote index developer competition, ISOs) rely on natural gas indices to Forecasting, California ISO and enhance confidence in natural gas develop reference levels for market • Christopher Hamlen, Regulatory price formation through increased power mitigation. Given the prevalence Counsel, ISO–NE transparency and accessibility of natural of indices in the natural gas and electric • George Wayne, Director of Account gas index information? For example, industries, indices must be robust and should the Commission consider Services for the Western Pipelines, have the confidence of market exercising its authority under section Kinder Morgan participants for such markets to 23(a)(1) through (3) of the Natural Gas function properly and efficiently. • Edward Fortunato, Managing Director Act to require market participants to Panelists are encouraged to respond to of Analytics for Constellation Energy, report price forming transactions to the following: Exelon Corporation index developers? 1. Describe current industry uses of • Corey Grindal, Senior Vice 3. Is index data sufficiently available physical natural gas price indices. Are President—Gas Supply, Cheniere and transparent? Does the commercial natural gas price indices sufficiently Energy service model negatively or positively reflecting the locational value of natural impact price formation? What actions, gas to permit decision-making by those • David Louw, Division Director—Risk Management and Compliance, policies, or trends have impacted price with an interest in the value of natural discovery? Is there additional gas such as: End users, producers, Macquarie Energy information market participants need to marketers, and other buyers and sellers? • Donnie Sharp, Senior Natural Gas ensure robust natural gas price 2. Are there improvements that Supply Coordinator for Huntsville formation? Who should provide that should be made to increase the Utilities, American Public Gas information? How would that likelihood that natural gas indices will Association Representative information be shared? reflect the market value at particular locations? For example, could index • Lee Bennett, Manager, Pricing and Panelists Business Analysis for Transcanada, • Greg Leonard, Vice President, asabaliauskas on DSKBBXCHB2PROD with NOTICES publishers provide increased transparency when there are insufficient on behalf of Interstate Natural Gas Cornerstone Research transactions to formulate an index Association of America • Orlando Alvarez, President and CEO, price? What additional information Representative BP Energy Company could signal that market activity is • Susan Bergles, Assistant General • Mark Callahan, Editorial Director for sufficiently robust to create accurate Counsel, American Gas Association Platts North America, S&P Global prices? • J.C. Kneale, Vice President—North 3. For RTOs/ISOs that rely on natural 3 Price Discovery in Natural Gas and Electric American Natural Gas, Power & NGL gas indices to develop reference levels Markets, 109 FERC ¶ 61,184 at P60 (2004). Markets InterContinental Exchange VerDate Sep<11>2014 17:09 Jun 16, 2017 Jkt 241001 PO 00000 Frm 00030 Fmt 4703 Sfmt 4703 E:\FR\FM\19JNN1.SGM 19JNN1

27812 Federal Register / Vol. 82, No. 116 / Monday, June 19, 2017 / Notices • Vince Kaminski, Professor in Practice 90-day Federal Authorization 502–8659, or at FERCOnlineSupport@ of Energy, Rice University Decision Deadline—October 22, 2017. ferc.gov. The eLibrary link on the FERC • Curtis Moffatt, Deputy General If a schedule change becomes Web site also provides access to the Counsel and Vice President, Kinder necessary, additional notice will be texts of formal documents issued by the Morgan provided so that the relevant agencies Commission, such as orders, notices, • Joe Bowring, President, Monitoring are kept informed of the Project’s and rule makings. Analytics progress. Dated: June 12, 2017. • Corey Grindal, Senior Vice Project Description Kimberly D. Bose, President—Gas Supply, Cheniere The St. James Supply Project would Secretary. Energy • Tom Haywood, Editor—Natural Gas consist of 0.7 mile of 20-inch-diameter [FR Doc. 2017–12661 Filed 6–16–17; 8:45 am] Week, Energy Intelligence pipeline, one new pig receiver site,1 a BILLING CODE 6717–01–P • Drew Fossum, Senior Vice President new interconnection to the planned and General Counsel, Tenaska Inc. Yuhuang Chemical Plant site, one new • Joan Dreskin, Vice President and valve and piping to tie the Old River DEPARTMENT OF ENERGY General Counsel, Interstate Natural Road M&R Station into the existing Southeast Lateral Pipeline, and piping Federal Energy Regulatory Gas Association of America and valve modifications at existing Commission 5:25 p.m.–5:30 p.m. Closing Remarks Transco Compressor Stations 63 and 65. Combined Notice of Filings #2 [FR Doc. 2017–12671 Filed 6–16–17; 8:45 am] Background BILLING CODE 6717–01–P Take notice that the Commission On March 17, 2017, the Commission received the following electric rate issued a Notice of Intent to Prepare an filings: DEPARTMENT OF ENERGY Environmental Assessment for the Docket Numbers: ER17–1774–000. Proposed St. James Supply Project and Applicants: NextEra Energy Bluff Federal Energy Regulatory Request for Comments on Point, LLC. Commission Environmental Issues (NOI). The NOI Description: Baseline eTariff Filing: was sent to affected landowners; federal, [Docket No. CP17–58–000] NextEra Energy Bluff Point, LLC state, and local government agencies; Application for Market-Based Rates to elected officials; environmental and Transcontinental Gas Pipe Line be effective 8/7/2017. public interest groups; Native American Company, LLC; Notice of Schedule for Filed Date: 6/8/17. tribes; other interested parties; and local Environmental Review of the St. James Accession Number: 20170608–5077. libraries. In response to the NOI, the Comments Due: 5 p.m. ET 6/29/17. Supply Project Commission received letters from the On February 6, 2017, Seminole Nation of Oklahoma, the Docket Numbers: ER17–1775–000. Quapaw Tribe of Oklahoma, and the Applicants: Arizona Public Service Transcontinental Gas Pipe Line Choctaw Nation of Oklahoma. No Company. Company, LLC (Transco) filed an concerns about historic resources were Description: § 205(d) Rate Filing: Rate application in Docket No. CP17–58–000 raised. Schedule No. 265, Amendment No. 1 requesting a Certificate of Public PV-Morgan 500kV to be effective 8/8/ Convenience and Necessity pursuant to Additional Information 2016. Section 7(c) of the Natural Gas Act to In order to receive notification of the Filed Date: 6/8/17. construct and operate certain natural gas Accession Number: 20170608–5083. pipeline facilities. The proposed project issuance of the EA and to keep track of all formal issuances and submittals in Comments Due: 5 p.m. ET 6/29/17. is known as the St. James Supply Project (Project), and would deliver 161,500 specific dockets, the Commission offers Docket Numbers: ER17–1776–000. dekatherms per day of firm a free service called eSubscription. This Applicants: Southwest Power Pool, transportation capacity from Transco’s can reduce the amount of time you Inc. spend researching proceedings by Description: § 205(d) Rate Filing: existing mainline Compressor Station 65 automatically providing you with Bylaws 3.1 and 3.3.2 Revisions (Chair in St. Helena Parish, Louisiana to the notification of these filings, document and Vice Chair Terms) to be effective planned Yuhuang Chemical Plant in St. summaries, and direct links to the 8/7/2017. James Parish, Louisiana. documents. Go to www.ferc.gov/docs- Filed Date: 6/8/17. On February 21, 2017, the Federal filing/esubscription.asp. Accession Number: 20170608–5096. Energy Regulatory Commission Additional information about the Comments Due: 5 p.m. ET 6/29/17. (Commission or FERC) issued its Notice Project is available from the Docket Numbers: ER17–1777–000. of Application for the Project. Among Commission’s Office of External Affairs Applicants: Midcontinent other things, that notice alerted agencies at (866) 208–FERC or on the FERC Web Independent System Operator Inc., issuing federal authorizations of the site (www.ferc.gov). Using the eLibrary Entergy Services, Inc. requirement to complete all necessary link, select General Search from the Description: Compliance filing: 2017– reviews and to reach a final decision on eLibrary menu, enter the selected date 06–08_Filing to implement Entergy a request for a federal authorization range and Docket Number excluding the settlement in Docket No. ER16–227 to asabaliauskas on DSKBBXCHB2PROD with NOTICES within 90 days of the date of issuance last three digits (i.e., CP17–58), and be effective 1/1/2016. of the Commission staff’s Environmental follow the instructions. For assistance Filed Date: 6/8/17. Assessment (EA) for the Project. This with access to eLibrary, the helpline can Accession Number: 20170608–5117. instant notice identifies the FERC staff’s be reached at (866) 208–3676, TTY (202) Comments Due: 5 p.m. ET 6/29/17. planned schedule for the completion of the EA for the Project. Take notice that the Commission 1 A pig is a tool that the pipeline company inserts received the following electric Schedule for Environmental Review into and pushes through the pipeline for cleaning the pipeline, conducting internal inspections, or reliability filings: Issuance of EA—July 24, 2017. other purposes. Docket Numbers: RR17–5–000. VerDate Sep<11>2014 17:09 Jun 16, 2017 Jkt 241001 PO 00000 Frm 00031 Fmt 4703 Sfmt 4703 E:\FR\FM\19JNN1.SGM 19JNN1


Document Created: 2017-06-17 01:48:29
Document Modified: 2017-06-17 01:48:29
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation82 FR 27809 
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