Jeffrey A. Murphy Managing Director, Commercial Operations Dominion East Ohio June 5, 2009.

Slides:

Advertisements

Similar presentations

DEREGULATION 1. BEFORE DEREGULATION 2. AFTER DEREGULATION Local

Advertisements

Natural Gas Aggregation and Marketing Programs Brooke E. Leslie, Senior Counsel, NiSource Inc. January 14, 2014.

Federal Energy Regulatory Commission Winter Energy Market Assessment 2005 – 2006 Item No.: A-3 October 20, 2005.

Petroleum and Natural Gas Outlook Briefing for the National Association of State Energy Officials 2005 Energy Outlook Conference Washington, DC Mike Burdette.

EIA Outlook for U.S. Heating Fuels State Heating Oil and Propane Program Conference North Falmouth, Massachusetts Laurie Falter Industry Economist Energy.

Natural Gas Industry. The Industry The industry has four major segments: a. Production b. Pipeline transportation c. Local distribution d. Storage.

Short-Term and Winter Fuels Outlook Guy F. Caruso Administrator Energy Information Administration New York Energy Forum New York, NY October 16,

California Energy Commission Retail Electric Rate Scenarios: Key Drivers and Structure 2015 Integrated Energy Policy Report California Energy Commission.

Presented by PUCO Chairman Todd A. Snitchler 21 st Century Manufacturing Task Force November 26,

The Auction & the SSO What It Means for Columbia and Its Customers Ken Stammen April 13, 2010.

Direct Use of Natural Gas. Tampa Electric Peoples Gas.

Why Events Overseas Matter to Gasoline Retailers and Consumers.

Energy Information Administration Markets, Hubs, Trading Places, and Capacity Release Markets by John H. Herbert.

ENERGY OUTLOOK: CONCLUSIONS AND RECOMMENDATIONS Benjamin Schlesinger, Ph.D. Benjamin Schlesinger and Associates, Inc. (BSA) Bethesda, Maryland Black Sea.

James M. Kendell Energy Information Administration The Aspen Institute June 28, 2008 Aspen, Colorado Global Gas Outlook.

BA212: Class 2 An Overview of the Natural Gas and Electricity Industries.

Natural Gas in Canada Canadian Gas Association CAMPUT Regulatory Course JUNE 2015.

Natural Gas Outlook National Association of State Energy Officials State Heating Oil and Propane Conference August 30, 2004 William Trapmann Energy Information.

R Southwest Gas Corporation February 16, 2001 Southwest Gas Corporation Update on Factors Affecting Gas Prices n Storage u Storage levels continue below.

Natural Gas Makes the Future Work. 2 Outline Natural Gas in Relation to Other Commodities Today’s Market Fundamentals Natural Gas: Jobs, Revenue & Environment.

Jet Fuel Supply/Price Outlook: Fueling the Recovery Energy Information Administration Presentation to 4th International Jet Fuel Conference February 11,

Crude Oil, Heating Oil, and Propane Outlook Briefing for the State Heating Oil and Propane Program Conference Asheville, NC Mike Burdette Petroleum Division,

SHORT - TERM NATURAL GAS OUTLOOK National Association of State Energy Officials State Heating Oil and Propane Conference August 7, 2006 Barbara Mariner-Volpe,

Natural Gas A World of Volatility Patrick J. Strange Senior Vice President Energy Marketing & Trading Conference University of Houston January 26, 2006.

© 2008 ICF International. All rights reserved. New York Gas Market Overview Based on NYSERDA Case 1 (n0908) March 2009 Contacts: Kevin R. Petak (

Dominion East Ohio Energy Choice Update/ Merchant Function Issues March 4, 2004.

U.S. Energy Policy: The Burdens of the Past and Moving Forward John P. Banks Nonresident Fellow Brookings Institution September 25, 2012 BROOKINGS MOUNTAIN.

Natural Gas Markets and Reliability of the Electric Power Industry William Trapmann, Energy Information Administration Natural.

November 13, 2007 The Evolving Roles and Responsibilities of Gas Utilities In Today’s Markets: Giving Customers More Choices.

The Evolving Roles and Responsibilities of Gas Utilities In Today’s Markets Presented by: Hank Linginfelter Executive Vice President, Utility Operations.

Electric Restructuring In Pennsylvania Sonny Popowsky Pennsylvania Consumer Advocate May 10, 2007 Institute for Regulatory Policy Studies Transforming.

Regulatory Responses to Natural Gas Price Volatility Commissioner Donald L. Mason, Esq. Vice-Chairman of NARUC Gas Committee Vice Chairman or the IOGCC.

Overview of the North American and Canadian Markets 2008 APEX Conference in Sydney, Australia October 13, 2008 Hung-po Chao Director, Market Strategy and.

Retail Competition: Managing a Difficult Transition David L. O’Connor Commissioner Massachusetts Division of Energy Resources (DOER) Presentation to National.

National Petroleum Council Study Balancing Natural Gas Policy: Fueling the Demands of a Growing Economy September 2003.

Energy Information Administration Official Energy Statistics from the U.S. Government Annual Energy Outlook 2008 Energy Information Administration December.

MAY 17, 2001 ENERGY MARKETS IN TURMOIL PRESENTED TO THE INSTITUTE FOR REGULATORY POLICY STUDIES

Natural Gas Data Systems Conceptual Framework Measurement and Distribution Current Developments and Changes Roy Kass Energy Information Administration.

Natural Gas Markets: What Next? Ted Lenart AVP Supply Ventures Nicor Gas.

Municipal Electric Aggregation Electric Aggregation Advisory Committee August 22, 2012.

LNG North American Summit 2008 Houston, Texas June 19, 2008 James M. Kendell Energy Information Administration U.S. Natural Gas.

Natural Gas Update: EIA NARUC Winter Meeting Barbara Mariner-Volpe, Energy Information Administration February 23, 2003.

The Northeast Natural Gas Market in 2030 LNG EXPRESS CONFERENCE Boston, Massachusetts September 21, 2006 William Trapmann Natural Gas Analysis Team Leader.

Energy Information Adminisration’s Outlook On Natural Gas Arkansas Public Service Commission “The Future Supply And Price of Natural Gas” June 3, 2003.

Natural Gas: Summer 2005 Steve Harvey FERC July 25, 2005 Federal Energy Regulatory Commission.

WCOAEE Meeting: Natural Gas & Electric Update April 16, 2015.

January 25, 2007 The Role of Speculation in Energy Markets Kyle Dickard Managing Director, Global Commodity Analysis.

Demand Response: What It Is and Why It’s Important 2007 APPA National Conference San Antonio, Texas June 26, :00 a.m. to Noon Glenn M. Wilson Director.

Examining Natural Gas Markets C HRIS M C G ILL M ANAGING D IRECTOR, P OLICY A NALYSIS M ARCH 5, 2008.

Crude Oil, Heating Oil, and Propane Market Outlook Briefing for the State Heating Oil and Propane Program Conference Kennebunkport, ME by Douglas MacIntyre.

IOGCC 2003 Outlook for Natural Gas & Petroleum Guy Caruso Administrator Energy Information Administration IOGCC Conference Williamsburg, Virginia May 19,

Natural Gas and Energy Reform Legislation Steve Crout Managing Director, Government Affairs American Gas Association.

Natural Gas Data Collection and Estimation Oklahoma Independent Petroleum Association June 6, 2010 Dallas, Texas James Kendell, Director, Natural Gas Division.

MODULE 7 WHO IS OUR COMPETITION?. WHAT IS SUPPLIER COMPETITION? OTHER SUPPLIERS In a deregulated market, fair competition is important! This means IGS.

CSG/ERC 44 th Annual Meeting Springfield, MA Douglas MacIntyre, Senior Oil Market Analyst Petroleum Division U.S. Energy Information Administration August.

Natural Gas Outlook The Tennessee Regulatory Authority Natural Gas Symposium August 19, 2003 Roy Kass Energy Information Administration (EIA)

Peaks, Plans and (Persnickety) Prices Gas Storage: Finance, Investment, and Strategy Summit October 19, 2010 Houston, Texas James M. Kendell, Director.

Petroleum Outlook: Increased Inter-PADD Movements Expected Joanne Shore Energy Information Administration API Annual Pipeline Conference Dallas, Texas.

Understanding the Impacts of Incremental Gas Supply on the Flow Dynamics Across the North American Grid Canadian Institute Vancouver, BC November 20, 2006.

The Commonwealth of Virginia 2016 State Contracts Meeting – Compass Energy Placeholder.

Romanian Natural Gas Regulatory Authority (ANRGN) Dan Pantilie President ANRGN Budapest, Hungary May 19, th Annual Meeting of the Energy Regulators.

Market Outlook February 22, The Big Picture  Price Volatility  NG Fundamentals, Storage, Production, Transportation, Weather etc.  Crude Oil,

ГММ -1( а ) Li Jianfei. By 2040, the world and, in particular, countries which have large and technologically advanced economies – such as the USA,

September 25, 2001 Maryland Public Service Commission Retail Gas Market Conference Timothy S. Sherwood Department Head, Energy Acquisition.

PJM Footprint Roundtable

Statistical Analysis of Commodities Futures Prices

October 9, 2014 Kenneth W. Yagelski Managing Director Gas Supply

About Dominion: One of America’s Leading Energy Companies

The Outlook for Energy and Natural Gas Markets

February 2007 Note: Source:.

Presentation transcript:

Jeffrey A. Murphy Managing Director, Commercial Operations Dominion East Ohio June 5, 2009

Natural Gas Market Dynamics Price Volatility Supply and Demand Fundamentals Dominion East Ohio Market

Price Volatility

Historical Price Movement Source:

July ‘09 NYMEX Contract Pricing Source:

Forward NYMEX NG Prices Source:

June 2, 2009 Gas Daily Headlines NYMEX leaps 41.4 cents, but cash prices weaken “the NYMEX price soared ‘for no good reason’ given that fundamentals have not changed much from last week.” Bears in control as new hurricane season begins “nothing - save a catastrophic hurricane … - should prevent gas prices from falling even further this summer” S&P: Outlook murky for North American gas sector “the key for oil and gas is the development of demand, and demand right now is heading downhill…” See:

Key Drivers

Key Drivers: Reduced Demand Source: Weather-Normalized R&C Demand Is Less

Key Drivers: Reduced Demand Source: Industrial and Power Generation Demand Is Much Less

Key Drivers: Drilling Activity Source: EIA Natural Gas Year In Review 2008

Key Drivers: Drilling Activity Source:

Key Drivers: Domestic Production Source:

Key Drivers: Domestic Production Source: EIA Annual Energy Outlook 2009

Key Drivers: New Reserves Source: FERC Natural Gas Market Overview (12/5/08)

Key Drivers: LNG Imports Source:

Key Drivers: Storage Inventories Source:

Key Drivers: Pipeline Capacity Source: rexpipeline.com

Dominion East Ohio Market

Energy Choice Enrollments

Pre-SSO (9/06) to Today (12/08) September 2006December 2008 Residential Choice Customers 476,000504,000 Non-Res. Choice Customers 39,00042,000 Aggregation Customers 282,000303,000 Total Choice Customers 797,000849,000 # of Suppliers 1619

Energy Choice Market Shares – 12/08 Aggregation (36%) A B C D Other 13 Energy Choice Participation Rates: Residential Non-PIPP: 78% Nonresidential: 75% E F

What is Dominion Doing Now? Dominion is continuing its transition from traditional regulated natural gas sales to a more competitive market for its customers Dominion will continue to focus on providing regulated distribution service to its 1.2 million customers Dominion conducted its first Standard Service Offer auction in August 2006 to purchase natural gas for its sales customers In February 2009, Dominion conducted two more auctions for Standard Service Offer (SSO) and Standard Choice Offer (SCO) commodity service In April 2009, Dominion placed all Choice-eligible customers into a direct retail relationship with an Energy Choice supplier at the SCO rate established in the auction SSO/SCO auction process will be repeated in 2010

Resources: Residential/Small Commercial Larger Commercial/Industrial