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Audit & Compliance Services

 ♦  Capacity market participants have paid millions to
     FERC in penalties for capacity release rules violations.

 ♦  Financial auditors are requiring CFOs and CROs to
     quantify and validate their capacity positions and
     associated risk policies.

 ♦  Many PUCs want independent assurance that LDC
     capacity release programs meet their criteria and
     pass a fairness test.

We provide capacity market audits and ongoing compliance monitoring for Shippers, LDCs, Asset Management Companies and Regulatory Agencies. Because we have every capacity release deal ever done in our Capacity Center database, we are uniquely qualified to perform capacity audits and compliance monitoring and provide third party validation.

Our Capacity Audit Process
  1. We utilize our comprehensive capacity database to review all of your capacity transactions for a defined period of time, regardless of which entity it was assigned to
    1. We maintain data on all the shippers and their corporate relationships
  2. We compare our records to your internally generated records to determine:
    1. Any side dealing, flipping or other behaviors that could run afoul of FERC Market Oversight and FERC Enforcement
    2. Compliance with "Shipper Must Have Title" rules
    3. Internal reporting gaps in your records and reasons for gaps
    4. Detailed issues log
  3. Documentation and business process review of your business practices and reporting
    1. Findings Report
    2. Recommendations
  4. Review Session with CFO, CRO and internal parties
  5. Change Implementation Assistance as Requested

Audit Requirement Alert

FERC Orders 757 and 587-V modified the rules for Reporting Requirements for Interstate and Intrastate Natural Gas Companies and Standards for Business Practices for Interstate Natural Gas Pipelines.

Many PUCs require capacity audits in conjunction with rate case filings and for compliance purposes.

Contact us for more information on how audit requirements impact your business.

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Compliance Monitoring

Upon completion of the initial capacity audit, we can provide ongoing compliance monitoring services. On a monthly or quarterly basis we can:

  • Compare internal capacity transaction and position reports to benchmark and validate them against our comprehensive database
  • Search for and identify any incidences of potential compliance violations and report them to the company's designated Risk or Oversight person
  • On a monthly or quarterly basis, we will work with clients to assure they maintain compliance and avoid penalties

Contact Brendan Tierney at 978-717-6144 or inquiry1@capacitycenter.com
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