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FLORIDA GAS UTILITY 2010 ANNUAL MEETING June 9-11, 2010 Daytona Beach Shores, Florida. MATT RICK JOHN & HENGERER 1730 RHODE ISLAND AVENUE, N.W. SUITE 600 WASHINGTON, D.C. 20036-3116 (202) 429-8809 mrick@jhenergy.com. FGT UPDATE. FGT 2010 Rate Case (Docket No. RP10-21-000)

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florida gas utility 2010 annual meeting june 9 11 2010 daytona beach shores florida

FLORIDA GAS UTILITY2010 ANNUAL MEETINGJune 9-11, 2010Daytona Beach Shores, Florida

MATT RICK

JOHN & HENGERER

1730 RHODE ISLAND AVENUE, N.W.

SUITE 600

WASHINGTON, D.C. 20036-3116

(202) 429-8809

mrick@jhenergy.com

fgt update
FGT UPDATE
  • FGT 2010 Rate Case (Docket No. RP10-21-000)
    • filed October 1, 2009
    • 23% increase in cost of service
    • hearing scheduled for August 2010
  • FGT’s Phase VIII Project (Docket No. CP09-17-000)
    • certificate issued in November 2009
    • project under construction
  • AES v. FGT order addressing “gas interchangeability” and the introduction of LNG in the FGT market area
    • D.C. Circuit decision issued May 14, 2010
    • FPL loses; FGT wins
other florida related gas supply projects
OTHER FLORIDA-RELATED GAS SUPPLY PROJECTS
  • Port Dolphin Pipeline
    • certificate issued in December 2009
    • project delayed (extension of time granted to file environmental implementation plan)
  • Calypso US Pipeline
    • additional extension of time requested in May 2010 (until June 2012)
  • Floridian Gas Storage Project
    • certificate issued in August 2008
    • construction has not yet commenced
    • project delayed until local utilities execute contracts
  • TECO/People’s SeaCoast Pipeline Project
    • proceeding
  • FPL’s Florida EnergySecure Line Project
    • rejected by Florida regulators
north american gas supply dynamics in general
NORTH AMERICAN GAS SUPPLY DYNAMICS IN GENERAL
  • Lower 48 – Rocky Mountain / Shale-Based Supplies
    • REX-East and change in market dynamics
    • Barnett, Haynesville, Marcellus, and Eagle Ford shale plays
  • LNG
    • LNG imports were expected to rise due to decreased global demand and new LNG liquefaction capacity – unlikely now
    • retrofitting import terminals to allow storage and re-export of LNG
  • Alaska
    • Denali and TransCanada conducting open seasons, but hope may be fading
  • Gulf Leases
    • on hold because of BP incident
pending gas industry regulatory issues
PENDING GAS INDUSTRY REGULATORY ISSUES
  • Two new FERC Commissioners added in 2010
  • Order No. 712 – Capacity Release/Asset Management
  • Form 552 (Annual Report of Natural Gas Transactions)
    • report for calendar year 2009 due September 1, 2010
  • FERC Enforcement Actions
    • audits of virtually everyone involved in the gas business
    • FERC acceptance of Amaranth settlement, but nothing new
    • FERC Policy Statement on Penalty Guidelines
  • FERC Exercise of Section 5 Authority
    • Northern Natural, Great Lakes, NGPL
  • Focus on Non-Interstate Pipelines
    • new posting and reporting requirements
electricity developments
ELECTRICITY DEVELOPMENTS
  • Will New High Voltage Transmission Lines Ever Get Built?
    • FERC’s pricing incentives
    • FERC’s focus on enhancing transmission planning and market rules and operations to allow reliable integration of renewable energy resources
    • FERC efforts to obtain backstop transmission siting authority from Congress
    • continued lack of clarity regarding cost allocation
  • Reliability Regulation
    • compliance audits by NERC and the Regional Entities
    • definition of “transmission” facilities
    • FRCC settlement of issues relating to February 2008 blackout
federal legislative developments
FEDERAL LEGISLATIVE DEVELOPMENTS
  • Climate Change/Greenhouse Gases Emissions
  • Financial/Derivatives Regulation