Williams to pay fine in disclosure dispute

The US Federal Energy Regulatory Commission has approved a settlement in which Williams Cos. Inc. agreed to pay a $3.6 million agreement civil fine in a dispute with FERC staff involving disclosure of nonpublic gas-storage information.

June 16, 2005

By OGJ editors

HOUSTON, June 16 -- The US Federal Energy Regulatory Commission has approved a settlement in which Williams Cos. Inc. agreed to pay a $3.6 million agreement civil fine in a dispute with FERC staff involving disclosure of nonpublic gas-storage information.

Williams also agreed to refund $4 million to customers of its affiliate, Transcontinental Gas Pipe Line Corp. The FERC investigation covered internal and external discussions of nonpublic inventory levels from August 2001 through June 2002.

Williams noted that the settlement includes a compliance plan in addition to one it implemented in 2003 (OGJ Online, Mar. 18, 2003).