Trade groups ask FERC to save gas price reporting system

Producer and consumer groups told federal energy regulators that an industry-led price reporting process remains the most effective way to ensure natural gas price transparency.But the system still needs refinements, the Natural Gas Supply Association, the Independent Petroleum Association of America, and the Process Gas Consumers (PGC) told the Federal Energy Regulatory Commission at a technical conference Apr. 24. They said in a joint statement that "significant improvements" are needed to restore market confidence in the wake of trader scandals surrounding the California power crisis."We recognize that confidence in current price indices has suffered due to the inappropriate activities...

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