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National Fuel Gas Distribution Files Cash-Out Revisions in New York

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September 28, 2010

National Fuel Gas Distribution Corporation has filed with the New York PSC several proposed changes to its cash-out policies.

A new General Information section of the tariff explains the process for calculating and aggregating month end imbalances, contains provisions for the exchange of month end imbalances, and identifies how the cash out rates applied to remaining month end imbalances would be calculated and applied.  These provisions follow those currently in effect for SC 13D (Daily Metered Transportation Service) and/or SC 19 (Supplier Transportation, Balancing and Aggregation).  

While most changes are not material, one significant change is that the market rate pricing currently available to only SC 13D will be extended to nearly all transportation customers and/or their suppliers.

For SC 19 (Supplier Transportation, Balancing and Aggregation), Distribution's revisions to Leaf 266.2 would make cash-out at the market value of gas the default method for resolving imbalances, except for Deficiency Imbalances when the company issues a Notice of Unauthorized Period.  The current default method for addressing imbalances for SC 19 is rollover, while a cash-out at rates less favorable than the market value of gas is available as an option.  

Under the modified Leaf 266.2, Distribution would retain the ability to suspend the cash-out mechanism and resolve imbalances through rollover as operating conditions permit or require.

For Daily Metered Transportation (DMT) Service (SC 13D), Distribution has modified Leaf No. 209 to provide that the tolerance band for market pricing is plus or minus 5% year round.  Currently, the tolerance band for market pricing is plus or minus 5% during November through March, and plus or minus 10% during April through October.

Also on Leaf No. 209, Distribution has deleted language referencing imbalance resolution via storage inventory transfer, because the provision has not been used in recent years.  

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