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Legend Consulting Group Limited Entergy New Orleans, Inc. Financial Gas Hedging Program April 12, 2012.

Published byRoderick Ray Modified over 8 years ago

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Presentation on theme: "Legend Consulting Group Limited Entergy New Orleans, Inc. Financial Gas Hedging Program April 12, 2012."— Presentation transcript:

1 Legend Consulting Group Limited Entergy New Orleans, Inc. Financial Gas Hedging Program April 12, 2012

2 Legend Consulting Group Limited 2 Background  In Response to Extreme Volatility in Natural Gas Prices during the Winter of 2000/2001, the Council Sought to Provide Protections for the Ratepayers of New Orleans Against Future Natural Gas Price Volatility  The Council Conducted Annual Reviews for ENO’s Gas Hedging Program and each Season’s Hedging Results for the Winter Heating Seasons of 2001/2002 Through 2005/2006 with the Exception of 2002/2003

3 Legend Consulting Group Limited Background  The Council Last Evaluated ENO’s Gas Hedging Program in R-05-344 and Authorized ENO to Continue it’s Hedging Activities for the Winter Season 2005/2006  Costs or Benefits Associated with ENO’s Gas Hedging Program are Passed through Monthly to Ratepayers via the Purchased Gas Adjustment (“PGA”) 3

4 Legend Consulting Group Limited Historic Gas Prices – Henry Hub 4

5 Legend Consulting Group Limited Current Conditions of the Natural Gas Market  Agencies such as the Energy Information Administration (“EIA”) have Predicted Generally Lower Gas Prices for the Foreseeable Future  The Downward Pressure on Current and Predicted Natural Gas Prices is in Large Part due to the Prolific Supply of Natural Gas being made Available through Hydraulic Fracturing or “Fracking” 5

6 Legend Consulting Group Limited Recommendations  Given the Price Forecasts by the EIA the Advisors Recommend that the Council Direct ENO to: Cease in it’s Natural Gas Hedging Program for the Upcoming Winter Season (2012/2013)Cease in it’s Natural Gas Hedging Program for the Upcoming Winter Season (2012/2013) Provide the Council, by March 1 st of Each Year, its Assessment of the Natural Gas Price Forwards Market and Whether they Recommend the Approval of a Gas Hedging Program for the Ensuing Winter SeasonProvide the Council, by March 1 st of Each Year, its Assessment of the Natural Gas Price Forwards Market and Whether they Recommend the Approval of a Gas Hedging Program for the Ensuing Winter Season 6

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