Indiana Natural Gas Inventory Forward Sale Contract is a financial agreement entered into by parties in the natural gas industry to sell and purchase natural gas inventory in the state of Indiana. This contract allows suppliers and buyers to lock in future prices and quantities of natural gas, providing stability and certainty in the market. The Indiana Natural Gas Inventory Forward Sale Contract is commonly used by natural gas producers, distributors, and end-users to manage their supply and demand requirements. It helps them mitigate price risks associated with fluctuating natural gas prices in the volatile energy market. In terms of contract types, there are several variations of Indiana Natural Gas Inventory Forward Sale Contracts. These include: 1. Fixed Quantity Forward Contract: This type of contract ensures a fixed quantity of natural gas is bought or sold at a predetermined price. It provides certainty in terms of quantities but does not protect against price fluctuations. 2. Fixed Price Forward Contract: With this contract, the parties agree to buy or sell natural gas at a specified fixed price regardless of market changes. It allows both buyers and sellers to hedge against price volatility. 3. Index-Based Forward Contract: This contract type refers to agreements where the price of natural gas is tied to an index, such as the Henry Hub or other established pricing benchmarks. It provides flexibility to benefit from market price movements. 4. Swing Contract: A swing contract allows the buyers or sellers to vary the quantity of natural gas to be delivered within a specified range. This type of contract is suitable for balancing supply and demand fluctuations. 5. Heat Rate Contract: Heat rate contracts are used specifically for combining natural gas with electricity production. Parties agree on the conversion rate of natural gas to electricity, allowing for optimal planning and pricing strategies in energy markets. These different types of Indiana Natural Gas Inventory Forward Sale Contracts cater to the diverse needs and risk appetites of market participants. They offer flexibility, price hedging, and risk management tools that are crucial in today's dynamic energy landscape.
Indiana Natural Gas Inventory Forward Sale Contract
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Hear this out loud Pause?firm capacity?: gas transmission, LNG or storage capacity contractually and unconditionally guaranteed by the transmission, LNG or storage undertaking.
Hear this out loud PauseInterruptible service is an arrangement where commercial customers with flexible energy needs agree to have their service interrupted or curtailed periodically. This setup benefits the gas utility or supplier by helping them manage gas supply during periods of high demand.
Hear this out loud PauseFirm gas rates apply when a building burns natural gas only. Firm gas service will not be interrupted because of weather or other conditions. Firm delivery rates are established by Con Edison's New York Public Service Commission.
Under interruptible contracts, customers are not required to pay any fixed minimum amounts, but are instead billed based on actual volume of service provided for any given period. Payment for services under these contracts are typically due the month after the services have been performed.
Firm contracts and interruptible contracts are two broad types of contracts for purchasing natural gas, although the legal obligations for delivering natural gas between a fuel supplier and a natural gas-fired power plant can vary, depending on their specific agreements.
Hear this out loud PauseThe opposite of firm service is non-firm service, also called interruptible service or as-available service. The cost per unit for this service is called a non-firm rate or interruptible rate. The interruptible load is the portion of a utility's load that comes from customers with interruptible service.
Firm transportation service is typically sold on the basis of a ?fixed demand or reservation charge? (i.e., you pay for the service whether you use it or not), whereas interruptible service is typically sold on a ?commodity basis? (i.e., you pay only if you use it).