At its April 16 meeting, the Federal Energy Regulatory Commission adopted two proposals submitted by the North American Energy Standards Board to revise the interstate natural gas nomination timeline and make conforming changes to their standards. However, the Commission declined to approve changes to the gas trading day.
The approved proposals move the nomination cycle deadline for scheduling gas transportation from 11:30 a.m. CCT to 1 p.m. CCT and add a third intraday nomination cycle during the gas operating day to help shippers adjust their scheduling to reflect changes in demand.
These changes will enable PJM to adapt our market timing to better coordinate scheduling between wholesale gas and electricity markets, said Andrew Ott, executive vice president – Markets.
The Commission stated in its news release that certain efficiencies could be achieved through a better alignment of the natural gas and electric operating days, but the documentation presented did not justify changing the start time for the nationwide natural gas day.
“PJM believes, on balance, FERC’s ruling will enable better coordination between both industries,” Ott said.
FERC did recognize that several regional entities, including PJM, NYISO and ISO-NE, continue to address the misalignment between the gas day and the regional electric days.