The Value of Information The Value of Information in Changing Marketsin Changing Markets

Barbara Mariner-VolpeBarbara Mariner-Volpe Energy Information AdministrationEnergy Information Administration

U.S. Department of EnergyU.S. Department of Energy

September 23, 1997September 23, 1997

NARUC/DOE Natural Gas ConferenceNARUC/DOE Natural Gas Conference

Energy Information Administration

MarketersMarketersBrokersBrokersTradersTraders

OPERATORSOPERATORS

ProducersProducersPipelinePipelineStorageStorageLDCsLDCs

Diverse Users ...Diverse Users ...

Trade Press and MediaTrade Press and Media

FINANCIALFINANCIAL

Risk ManagersRisk ManagersInvestorsInvestors

CONSUMERSCONSUMERS

Information Information AggregatorsAggregators

Market Market PlayersPlayers

GovernmentGovernment

Energy Information Administration

CONSUMERSCONSUMERSPricePriceTerms and Quality of ServiceTerms and Quality of ServiceAlternative Fuel PricesAlternative Fuel PricesLong-term AvailabilityLong-term Availability

Spot PricesSpot PricesFutures PricesFutures PricesSupply/DemandSupply/DemandForecastsForecastsMarket AnalysisMarket Analysis

MARKETERSMARKETERSSpot PricesSpot PricesFutures PricesFutures PricesStorage Storage ChangesChangesSupply Supply DemandDemandWeatherWeather

ReservesReservesFlow RatesFlow RatesNominationsNominationsReceipts/DeliveriesReceipts/DeliveriesWeatherWeatherPricesPrices

……With Diverse Information NeedsWith Diverse Information Needs

Information Information AggregatorsAggregators

Market Market PlayersPlayers

GovernmentGovernment Trade Press and MediaTrade Press and Media

OPERATORSOPERATORS FINANCIALFINANCIAL

Energy Information Administration

NominationsNominations Futures/Options, SwapsFutures/Options, Swaps Capacity TradingCapacity Trading Load BalancingLoad Balancing Hub ManagementHub Management Risk ManagementRisk Management RebundlingRebundling

Market information Market information needed to support:needed to support:

With Restructuring, Information Needs Have With Restructuring, Information Needs Have Grown ExponentiallyGrown Exponentially Natural Gas

Production

PRODUCERSPRODUCERS

PIPELINESPIPELINES

DISTRIBUTORS

MARKETERSMARKETERS

BROKERSBROKERS

TRADERSTRADERS

MARKET HUBSMARKET HUBS

Residential Commercial Industral Vehicle Fuel Electric UtilityResidential Commercial Industral Vehicle Fuel Electric Utility

Energy Information Administration

Storage

Energy Information Administration

Information Infrastructure and Information Infrastructure and Industry ChangesIndustry Changes

Futuresmarket

EBB’s ,

Weeklystorageestimate

s.

Electronicauctions

1997Internet

Order636

Spotmarket ?GISB,

EDI

Order

436

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1994

1996

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Jul-95 Oct-95 Jan-96 Apr-96 Jul-96 Oct-96 Jan-97 Apr-97 Jul-97

Unique Daily Users of the EIA Web SiteUnique Daily Users of the EIA Web Site

Energy Information Administration

WeeklyWeeklyMarketMarket

UpdateUpdate

EIA's SpecializedNatural GasGeographicInformation

System(EIAGIS-NG)

NaturalNatural Gas Gas

http://www.eia.doe.gov

EIA Information - Valuable Support to EIA Information - Valuable Support to Many Energy Market ActivitiesMany Energy Market Activities

Energy Information Administration

EIA EIA InformationInformation

ComprehensiveComprehensive

AccurateAccurateTrend AnalysisTrend Analysis

ForecastingForecasting

Market AssessmentMarket Assessment

ProductsProducts

Market Market ActivitiesActivities

EIA’s Goal :EIA’s Goal : Cultivate Cultivate Partnerships Partnerships

We Want Your Input We Want Your Input

Energy Information Administration