Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (4286)	11/21/2001 2:24:05 AM
From: isopatch	Read Replies (2) of 36161

New NG consumption index is created <Tuesday November 20, 7:29 pm Eastern Time Reliant launches U.S. natgas consumption index HOUSTON, Nov 20 (Reuters) - Houston-based energy company Reliant Resources Inc. (NYSE:RRI - news) said on Tuesday it had launched a new index of U.S. natural gas consumption and a related risk management tool for natural gas traders. The Weather-Sensitive Gas Load Index (WGLI) measures current and forecast natural gas consumption based on temperatures in Chicago, Dallas, Philadelphia and Sacramento. Reliant said these cities provide an accurate approximation of nationwide demand. The index provides a timely indication of natural gas consumption, in contrast to official data which usually lags the calendar by several months, Reliant officials said. Swaps based on the index will allow traders to hedge risks associated with shifts in natural gas consumption as a result of unseasonably warm or cold weather. Reliant said it will make an over-the-counter voice-brokered market in WGLI swaps. Rival energy trading companies El Paso Corp.(NYSE:EPG - news) and Aquila Inc.(NYSE:ILA - news) have also agreed to make a market in the new product, it said.> biz.yahoo.com

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