MEI report titles related to Energy Regulatory Commission (CRE)

Size: px
Start display at page:

Download "MEI report titles related to Energy Regulatory Commission (CRE)"

Transcription

1 2016 Jan 28, Dec 01, 13 Interview with CRE s Francisco Salazar Francisco Salazar served as President-Commissioner of Mexico s Energy Regulatory Commission (CRE) from In this interview, held on the eve of the completion of his term, he looks back on the advances as well as the frustrations in relation to corporate governance and market regulation. He is optimistic that competitive markets with real-time price signals will emerge in both the natural gas and power markets. He also identifies institutional challenges that face CRE. Interview with Francisco Salazar Francisco Salazar is the third president-commissioner of Mexico's Energy Regulatory Commission (CRE). He has served since In this interview he emphasizes the importance of energy reform for the development of energy markets in Mexico MEXICO ENERGY INTELLIGENCE (MEI) is a commercial and policy research and advisory service offered by BAKER & ASSOCIATES, ENERGY CONSULTANTS, a management consultancy based in Houston. MEI reports facilitate two-way communication between Mexican public and private institutions and the global environment. Our reports examine policy, institutional and cultural issues as they affect the operating environment, energy regulation, and government and private investment in Mexico's energy sector. Reports are distributed principally on a subscription basis. Energia.com contains reports, title lists, calendar postings and interviews with stakeholders and observers that are made available as a public service. info@energia.com March 27, 2016 Page 1 of 5

2 Nov 17, 13 CRE Overflight of Energy Reform: High-altitude observations by three CRE commissioners This report showcases and critiques the recent contributions to the national energy debate by three CRE commissioners: Francisco Barnés de Castro, Francisco Salazar and Guillermo Zúñiga. The reformatted senate presentations of Barnés and Salazar are appended to the report. We observe that the CRE does not have a mandate to find fault with laws, policies or institutions; this constraint results in high-level obeservations that are informed by economic theories of competition, investment strategy and pricing. In Ing. Salazar s presentation, market-mechanisms are recommended for both the oil and power sectors Mar 14, 13 What Should the CRE Tell the Next Government? (Rev. 2) This report, first issued on Feb. 28, 2012, concerns the institutional and policy challenges that confront the Energy Reggulatory Commission (CRE) in fulfulling its mandate to regulate the electric and gas sectors. These challenges are expressed in this report as a series of problems, each with ideas for possible solutions. This revision of the report makes reference to new regulatory, policy and contractual issues associated with CFE as a gas marketer and pipeline operator. Attention is given to the need to define the rules for a seconary market for pipeline capacity Feb 27, What the CRE Should Tell the Next Government? This report, the first of a series concerning the information that should be provided to the government that will be installed on December 1, 2012, concerns the institutional and policy challenges that confront the Energy Reggulatory Commission (CRE) in fulfulling its mandate to regulate the electric and gas sectors on behalf of both public and private investors and consumers. These challenges are expressed in this report as a series of problems, each with suggestions about possible solutions. The current revision to the report makes reference to new regulatory, policy and contractual issues Oct 22, 04 Natural gas pricing and procurement controversies in Mexico, This report surveys the landscape of proposals and practices for natural gas pricing, storage and transportation since NAFTA came into effect Jan. 1, The successes and shortcomings of public and private tenders and direct negotiations are examined in relation to projects in gas, power and refinery upgrades. The report retraces some of the early history of the 1990s as background for developments during the Fox administration info@energia.com March 27, 2016 Page 2 of 5

3 2001 Jul 21, 01 CRE decree on LNG: Progress to July 2001 A report on the progress of CRE in regulating LNG activities in Mexico, including comments on a meeting held at the CRE on July 27, 2001 with some 50 prospective developers Jun 24, 01 CRE rethinks LNG In May 2000 the CRE s position was that LNG was an unregulated activity, open without CRE involvement. A year later, the CRE is rethinking its role, and is in the process of developing regulatory and permitting guidelines Feb 01, Dec 14, 00 Sep 04, 00 Aug 01, 00 Questioning the Mexico Price for natural gas On January 13th, Government and Industry settled on a $4 price for natural gas for 3 years, in effect dumping the CRE s pricing formula. CRE call for public comments on gas industry - scope and politics Report of discussions in CRE regarding scope of call for public comments on natural gas industry. Discussions held with CRE commissioners during the period December 7-14 have highlighted the possibilities as well as the limits of the Commission s call for public comments on the natural gas industry in Mexico. The call for public comments initially was scheduled to expire December 1, but the deadline was extended to January 31 at the request of trade associations and other parties. (About a dozen comments were submitted by the initial deadline, including one by MEI.) Pemex General Terms and Conditions (Pt. 1): VPM rules Initial critique of the long-awaited GT&C for natural gas transportation. Natural gas pricing crisis (du jour) and future policy options Monterrey industry protests to Government about high natural gas prices. CRE grants a 25% discount on benchmark for customers with hedging contracts Feb 16, 00 Río Bravo III project (CRE Memorandum) Discussion of the IPP tender for Rio Bravo III project and the consequences of the project being built in the US side info@energia.com March 27, 2016 Page 3 of 5

4 1999 Nov 12, 99 Aug 21, 99 Jun 10, 99 Jan 30, Sep 19, Sep 22, 97 Sep 15, 97 Sep 13, 97 May 15, 97 CRE vs. Pemex in future gas sales Report on the CRE search for regulatory models of natural gas markets to have open access on PGPB pipeline system. CRE commissioners are pondering a regulatory and legal dilemma: They have been warned by outside academic consultants that unless Open Access takes place on Pemex s pipeline system the entire market reform in both natural gas and electricity is in jeopardy. They are asking themselves the question, Should we be following the Argentine or the American model of gas deregulation? Outlook for regulated tariffs Forecast of CFE regulated tariffs until 2009 using MEI software tool, KWMex. FERC Order 636 in Mexico? Report on the CRE s terms and conditions of the use of PGPB s national pipeline system. Has the CRE admitted defeat in natural gas marketing? Discussion of the CRE s view of regulatory policy in natural gas markets in Mexico, as presented at the Economist Energy Summit in Houston. MEI meeting with Energy Commission MEI staff meeting with Energy Commission officer during his visit to Houston. CRE gas franchise award in Río Pánuco Two companies challenge the CRE decision of awarding the Rio Panuco LDC to NorAm-led consortium. CRE award in Tampico/Madero/Altamira The CRE awards the Tampico-Madero-Altamira franchis zone for natural gas LDC to a consortium led by NorAm. CRE ruling in Monterrey re: Pemex Gas pipelines A critique of the policy decision of the CRE announced on August 25 to permit direct-connects by Monterrey industrial companies to Pemex Gas pipelines. Hermosillo LDC award CRE awards the LDC franchise in Hermosillo and surrounding areas to KN Energy info@energia.com March 27, 2016 Page 4 of 5

5 1996 Aug 26, 96 Aug 14, 96 Aug 09, 96 Mexicali natural gas franchise *Controversial price proposals. Press reports: Pemex and CRE to sell natural gas distributorsships CRE authorization of third party pipeline access program Nov 19, 95 Nov 02, 95 Oct 23, 95 Oct 23, 95 Scenario analysis of reality of new natural gas regulations Asks if the new CRE regulatons should be seen under the light of 1) You ve Got to Start Somewhere or 2) It s Not a Real Start? Formal ceremony presenting new natural gas regulations *Held in Los Pinos. The CRE s philosophy of natural gas regulation *Aspirational goals. Critique of the CRE s review of its hearings CRE review of hearings on natural gas regulations Sep 27, 95 Draft of natural gas regulations, 6/22/95 Comments on draft regulations for natural gas Aug 01, 95 White paper in English by the CRE on Mexico s natural gas outlook info@energia.com March 27, 2016 Page 5 of 5

Review of Registered Charites Compliance Rates with Annual Reporting Requirements 2016

Review of Registered Charites Compliance Rates with Annual Reporting Requirements 2016 Review of Registered Charites Compliance Rates with Annual Reporting Requirements 2016 October 2017 The Charities Regulator, in accordance with the provisions of section 14 of the Charities Act 2009, carried

More information

MNI Light At The End of The Tunnel? Euro Area Economy And the ECB. Johanna Treeck, Senior ECB Correspondent, September 2015

MNI Light At The End of The Tunnel? Euro Area Economy And the ECB. Johanna Treeck, Senior ECB Correspondent, September 2015 MNI Light At The End of The Tunnel? Euro Area Economy And the ECB Johanna Treeck, Senior ECB Correspondent, September 2015 MNI Deutsche Börse Group 1 Market Data + Services We advance markets Service lines

More information

2009 Reassessment As Impacted by Senate Bill 711

2009 Reassessment As Impacted by Senate Bill 711 Saint Louis County 2009 Reassessment As Impacted by Senate Bill 711 Impacts of SB711 on the 2009 Reassessment Plan The County must notify property owners of changes in the projected tax liability resulting

More information

TRUMP CLOUDS OVER MEXICO

TRUMP CLOUDS OVER MEXICO Houston, November 11, 2016 MEI Report No. 825 TRUMP CLOUDS OVER MEXICO Impact of a Trump administration on the energy reform I N THE DAYS LEADING UP TO the U.S. elections on November 8, 2016, the print

More information

XML Publisher Balance Sheet Vision Operations (USA) Feb-02

XML Publisher Balance Sheet Vision Operations (USA) Feb-02 Page:1 Apr-01 May-01 Jun-01 Jul-01 ASSETS Current Assets Cash and Short Term Investments 15,862,304 51,998,607 9,198,226 Accounts Receivable - Net of Allowance 2,560,786

More information

Big Walnut Local School District

Big Walnut Local School District Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2013 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR TO DATE FINANCIAL

More information

Spheria Australian Smaller Companies Fund

Spheria Australian Smaller Companies Fund 29-Jun-18 $ 2.7686 $ 2.7603 $ 2.7520 28-Jun-18 $ 2.7764 $ 2.7681 $ 2.7598 27-Jun-18 $ 2.7804 $ 2.7721 $ 2.7638 26-Jun-18 $ 2.7857 $ 2.7774 $ 2.7690 25-Jun-18 $ 2.7931 $ 2.7848 $ 2.7764 22-Jun-18 $ 2.7771

More information

THE MEXICAN GOVERNMENT S OFFSHORE ENTITIES IN THE OIL SECTOR

THE MEXICAN GOVERNMENT S OFFSHORE ENTITIES IN THE OIL SECTOR PUBLICPOLICYPERSPECTIVENo.10025 Houston,December31;rev.January14,2013 PUBLICPOLICYPERSPECTIVESareissuedperiodically,inEnglishorinSpanish,asapublicservicewiththeaim ofinvitingfreshdiscussionofmattersofpolitics,law,policy,regulationandcorporategovernance.

More information

THE B E A CH TO WN S O F P ALM B EA CH

THE B E A CH TO WN S O F P ALM B EA CH THE B E A CH TO WN S O F P ALM B EA CH C OU N T Y F LO R I D A August www.luxuryhomemarketing.com PALM BEACH TOWNS SINGLE-FAMILY HOMES LUXURY INVENTORY VS. SALES JULY Sales Luxury Benchmark Price : 7,

More information

ACE 427 Spring Lecture 6. by Professor Scott H. Irwin

ACE 427 Spring Lecture 6. by Professor Scott H. Irwin ACE 427 Spring 2013 Lecture 6 Forecasting Crop Prices with Futures Prices by Professor Scott H. Irwin Required Reading: Schwager, J.D. Ch. 2: For Beginners Only. Schwager on Futures: Fundamental Analysis,

More information

TERMS OF REFERENCE FOR THE INVESTMENT COMMITTEE

TERMS OF REFERENCE FOR THE INVESTMENT COMMITTEE I. PURPOSE The purpose of the Investment Committee (the Committee ) is to recommend to the Board the investment policy, including the asset mix policy and the appropriate benchmark for both ICBC and any

More information

FERC EL Settlement Agreement

FERC EL Settlement Agreement FERC EL05-121-009 Settlement Agreement Ray Fernandez Manager, Market Settlements Development Market Settlements Subcommittee June 14, 2018 Settlement Agreement Details Settlement Agreement Details FERC

More information

Distribution Group Study Process. August 26, 2014

Distribution Group Study Process. August 26, 2014 Distribution Group Study Process August 26, 2014 Agenda Overview Applying for DGSP DGSP Interconnection Process Applicability and Utility Contacts Questions 2 Process Overview Open Window Period Evaluation

More information

Factor Leave Accruals. Accruing Vacation and Sick Leave

Factor Leave Accruals. Accruing Vacation and Sick Leave Factor Leave Accruals Accruing Vacation and Sick Leave Factor Leave Accruals As part of the transition of non-exempt employees to biweekly pay, the UC Office of the President also requires standardization

More information

September 30, Part Version Title V LNG Rates

September 30, Part Version Title V LNG Rates Columbia Pipeline Group 5151 San Felipe, Ste 2400, Houston, Texas, USA 77056 Tel: 713.386.3776 slinder@cpg.com Sorana Linder Director, Regulated Services September 30, 2016 Ms. Kimberly D. Bose Federal

More information

Tooele County. Financial Recovery Plan 3rd Quarter 2014 Update

Tooele County. Financial Recovery Plan 3rd Quarter 2014 Update Tooele County Financial Recovery Plan 3rd Quarter 2014 Update Original Projection 14,000,000 Tooele County Cash 2009-2015 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 - Ahead of Projection

More information

Executive Summary. July 17, 2015

Executive Summary. July 17, 2015 Executive Summary July 17, 2015 The Revenue Estimating Conference adopted interest rates for use in the state budgeting process. The adopted interest rates take into consideration current benchmark rates

More information

Finally, A Global Tailwind for U.S. Manufacturing Growth

Finally, A Global Tailwind for U.S. Manufacturing Growth Finally, A Global Tailwind for U.S. Manufacturing Growth MAPI Foundation Webinar December 12, 217 Cliff Waldman Chief Economist cwaldman@mapi.net Key Takeaways The global economic recovery is both strengthening

More information

Performance Report October 2018

Performance Report October 2018 Structured Investments Indicative Report October 2018 This report illustrates the indicative performance of all Structured Investment Strategies from inception to 31 October 2018 Matured Investment Strategies

More information

HUD NSP-1 Reporting Apr 2010 Grantee Report - New Mexico State Program

HUD NSP-1 Reporting Apr 2010 Grantee Report - New Mexico State Program HUD NSP-1 Reporting Apr 2010 Grantee Report - State Program State Program NSP-1 Grant Amount is $19,600,000 $9,355,381 (47.7%) has been committed $4,010,874 (20.5%) has been expended Grant Number HUD Region

More information

Looking at a Variety of Municipal Valuation Metrics

Looking at a Variety of Municipal Valuation Metrics Looking at a Variety of Municipal Valuation Metrics Muni vs. Treasuries, Corporates YEAR MUNI - TREASURY RATIO YEAR MUNI - CORPORATE RATIO 200% 80% 175% 150% 75% 70% 65% 125% Average Ratio 0% 75% 50% 60%

More information

Business & Financial Services December 2017

Business & Financial Services December 2017 Business & Financial Services December 217 Completed Procurement Transactions by Month 2 4 175 15 125 1 75 5 2 1 Business Days to Complete 25 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 217 Procurement

More information

FDD FIRM STORAGE SERVICE NORTHERN NATURAL GAS COMPANY

FDD FIRM STORAGE SERVICE NORTHERN NATURAL GAS COMPANY FDD FIRM STORAGE SERVICE NORTHERN NATURAL GAS COMPANY FIRM STORAGE SERVICE OPTIONS Northern s firm storage service is provided pursuant to the FDD Rate Schedule located in Northern s FERC Gas Tariff. The

More information

Asset Manager Performance Comparison

Asset Manager Performance Comparison Cape Peninsula University of Technology Retirement Fund August 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although

More information

Financial & Business Highlights For the Year Ended June 30, 2017

Financial & Business Highlights For the Year Ended June 30, 2017 Financial & Business Highlights For the Year Ended June, 17 17 16 15 14 13 12 Profit and Loss Account Operating Revenue 858 590 648 415 172 174 Investment gains net 5 162 909 825 322 516 Other 262 146

More information

Asset Manager Performance Comparison

Asset Manager Performance Comparison Cape Peninsula University of Technology Retirement Fund September 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although

More information

Option Strategies for a Long-Term Outlook

Option Strategies for a Long-Term Outlook Option Strategies for a Long-Term Outlook Interactive Brokers Webcast June 20, 2018 Russell Rhoads, CFA Disclosure Options involve risk and are not suitable for all investors. Prior to buying or selling

More information

Orange Unified School District

Orange Unified School District Orange Unified School District Financing Information Ron Lebs Assistant Superintendent, Facilities and Planning Orange Unified School District Tel: 714.628.4500 rlebs@orangeusd.org Adam Bauer Chief Executive

More information

ONTARIO-MICHIGAN BORDER TRANSPORTATION PARTNERSHIP Planning/Need and Feasibility Study. 1. Work Accomplished This Period (4 Weeks)

ONTARIO-MICHIGAN BORDER TRANSPORTATION PARTNERSHIP Planning/Need and Feasibility Study. 1. Work Accomplished This Period (4 Weeks) ONTARIO-MICHIGAN BORDER TRANSPORTATION PARTNERSHIP Planning/Need and Feasibility Study MONTHLY PROGRESS REPORT #19 Period Ending September 30, 2003 1. Work Accomplished This Period (4 Weeks) Strategic

More information

Regional overview Gisborne

Regional overview Gisborne Regional overview Purchasing intentions - additional income-related rent subsidy (IRRS) places Area District 1 2 3 4+ TOTAL 3 35 5 7 total 3 35 5 7 7 8 9 1 11 Purchasing intentions - change within the

More information

Key Milestones & Decisions

Key Milestones & Decisions Key Milestones & Decisions Prepared: August 11, 2017 Key Milestone Timeline June 25, 2015 House Bill 2960 signed into law by Governor Kate Brown Q3 2015 Sep Appointment of Board Members; Executive Director

More information

Big Walnut Local School District

Big Walnut Local School District Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2012 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR-TO-DATE FINANCIAL

More information

WESTWOOD LUTHERAN CHURCH Summary Financial Statement YEAR TO DATE - February 28, Over(Under) Budget WECC Fund Actual Budget

WESTWOOD LUTHERAN CHURCH Summary Financial Statement YEAR TO DATE - February 28, Over(Under) Budget WECC Fund Actual Budget WESTWOOD LUTHERAN CHURCH Summary Financial Statement YEAR TO DATE - February 28, 2018 General Fund Actual A B C D E F WECC Fund Actual Revenue Revenue - Faith Giving 1 $ 213 $ 234 $ (22) - Tuition $ 226

More information

Energy Reform Hydrocarbon Sector

Energy Reform Hydrocarbon Sector Energy Reform Hydrocarbon Sector On August 12, 2014, the energy reform package of secondary laws became effective. It revolutionizes and permits private participation in the up-, mid- and downstream of

More information

Reform of the Mexican Energy Sector Guillermo Zúñiga Martínez Commissioner Energy Regulatory Commission September, 2015

Reform of the Mexican Energy Sector Guillermo Zúñiga Martínez Commissioner Energy Regulatory Commission September, 2015 Reform of the Mexican Energy Sector Guillermo Zúñiga Martínez Commissioner Energy Regulatory Commission September, 2015 *The opinions and facts are sole responsibility of the speaker During 2013 and 2014,

More information

ACA Reporting E-File Errors, Penalties & Exchange Notices

ACA Reporting E-File Errors, Penalties & Exchange Notices ACA Reporting E-File Errors, Penalties & Exchange Notices Agenda 1). Who is ACA Reporting Service? (quickly) 2). Setting the ACA Reporting Stage 3). The Process Leading up to E-Filing 4). E-Filing through

More information

Amec Stewardship Code. October, 2016

Amec Stewardship Code. October, 2016 Amec Stewardship Code October, 2016 Agenda Amec Vision Amec Stewardship Code Amec Stewardship Code Principles Adherence and Monitoring Amec Vision Capital Markets development a crucial source of financing

More information

Active governance at NEST

Active governance at NEST Active governance at NEST NEST is a new defined contribution (DC) scheme that s open to all employers. It aims to provide an additional retirement income to the millions of people who will start saving

More information

FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE"

FUEL PRICE RISK MANAGEMENT POLICY REPORT FUEL HEDGE FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE" Sep-18 FUEL PRICE RISK MANAGEMENT POLICY REPORT Sep-18 (Office of Management and Budget 09/30/2018) The Fuel Price Risk Management Policy approved

More information

QUARTERLY REPORT AND CERTIFICATION OF THE COUNTY TREASURER For Quarter Ending June 30, 2009 COMPLIANCE CERTIFICATION

QUARTERLY REPORT AND CERTIFICATION OF THE COUNTY TREASURER For Quarter Ending June 30, 2009 COMPLIANCE CERTIFICATION QUARTERLY REPORT AND CERTIFICATION OF THE COUNTY TREASURER For Quarter Ending June 30, 2009 The Government Code requires the County Treasurer to render a Quarterly Report to the County Administrator, the

More information

Regional overview Hawke's Bay

Regional overview Hawke's Bay Regional overview Purchasing intentions - additional income-related rent subsidy (IRRS) places Area Hastings Central 1 2 3 4+ TOTAL 5 5 25 125 3 3 1 7 total 8 8 35 195 7 8 9 1 11 Purchasing intentions

More information

FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE"

FUEL PRICE RISK MANAGEMENT POLICY REPORT FUEL HEDGE FUEL PRICE RISK MANAGEMENT POLICY REPORT "FUEL HEDGE" December 2018 FUEL PRICE RISK MANAGEMENT POLICY REPORT December 2018 The Fuel Price Risk Management Policy approved by the Board on February 16, 2006

More information

Isle Of Wight half year business confidence report

Isle Of Wight half year business confidence report half year business confidence report half year report contents new company registrations closed companies (dissolved) net company growth uk company share director age director gender naming trends sic

More information

Financial Statements. Kit Carson County Health Service District. October 2018

Financial Statements. Kit Carson County Health Service District. October 2018 Financial Statements Kit Carson County Health Service District Kit Carson County Health Service District Rooted in excellence. Growing in trust. FINANCIAL STATEMENT SUMMARY Income Statement Summary Kit

More information

Chad Utermark Executive Vice President of Beam and Plate Products Nucor Corporation March 2017

Chad Utermark Executive Vice President of Beam and Plate Products Nucor Corporation March 2017 Chad Utermark Executive Vice President of Beam and Plate Products Nucor Corporation March 2017 Home Insurance Building William LeBaron Jenney The Rise of the Skyscraper Steel Cage Buildings Still Climbing

More information

TERMS OF REFERENCE FOR THE FINANCE AND AUDIT COMMITTEE

TERMS OF REFERENCE FOR THE FINANCE AND AUDIT COMMITTEE I. PURPOSE A. The primary function of the Finance and Audit Committee (the Committee ) is to assist the Board in fulfilling its oversight responsibilities by reviewing: i) the accuracy of financial information

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. January 2019

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. January 2019 7 March 2019 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors January 2019 According to securities statistics, the amount outstanding of equity securities and debt

More information

Cost Estimation of a Manufacturing Company

Cost Estimation of a Manufacturing Company Cost Estimation of a Manufacturing Company Name: Business: Date: Economics of One Unit: Manufacturing Company (Only complete if you are making a product, such as a bracelet or beauty product) Economics

More information

Beginning Date: January 2016 End Date: June Managers in Zephyr: Benchmark: Morningstar Short-Term Bond

Beginning Date: January 2016 End Date: June Managers in Zephyr: Benchmark: Morningstar Short-Term Bond Beginning Date: January 2016 End Date: June 2018 Managers in Zephyr: Benchmark: Manager Performance January 2016 - June 2018 (Single Computation) 11200 11000 10800 10600 10400 10200 10000 9800 Dec 2015

More information

FOR RELEASE: MONDAY, MARCH 21 AT 4 PM

FOR RELEASE: MONDAY, MARCH 21 AT 4 PM Interviews with 1,012 adult Americans conducted by telephone by Opinion Research Corporation on March 18-20, 2011. The margin of sampling error for results based on the total sample is plus or minus 3

More information

Enhancements to Bidding Requirement

Enhancements to Bidding Requirement ICAP Spot Market Auction Enhancements to Bidding Requirement Sheri Prevratil Manager, Corporate Credit New York Independent System Operator Credit Policy Working Group March 16, 2012 KCC Conference Center

More information

Algo Trading System RTM

Algo Trading System RTM Year Return 2016 15,17% 2015 29,57% 2014 18,57% 2013 15,64% 2012 13,97% 2011 55,41% 2010 50,98% 2009 48,29% Algo Trading System RTM 89000 79000 69000 59000 49000 39000 29000 19000 9000 2-Jan-09 2-Jan-10

More information

Beginning Date: January 2016 End Date: September Managers in Zephyr: Benchmark: Morningstar Short-Term Bond

Beginning Date: January 2016 End Date: September Managers in Zephyr: Benchmark: Morningstar Short-Term Bond Beginning Date: January 2016 End Date: September 2018 Managers in Zephyr: Benchmark: Manager Performance January 2016 - September 2018 (Single Computation) 11400 - Yorktown Funds 11200 11000 10800 10600

More information

1.2 The purpose of the Finance Committee is to assist the Board in fulfilling its oversight responsibilities related to:

1.2 The purpose of the Finance Committee is to assist the Board in fulfilling its oversight responsibilities related to: Category: BOARD PROCESS Title: Terms of Reference for the Finance Committee Reference Number: AB-331 Last Approved: February 22, 2018 Last Reviewed: February 22, 2018 1. PURPOSE 1.1 Primary responsibility

More information

The Economic Outlook for Real Estate Investors

The Economic Outlook for Real Estate Investors The Economic Outlook for Real Estate Investors Dr. Mark G. Dotzour College Station, TX mdotzour@gmail.com Beginning our Initial Approach for this Flight Now Still at high altitude at rapid speed, starting

More information

Down, Set, Hut! Quarterbacking your LDI Program. Martin Jaugietis, CFA Managing Director, LDI Solutions, Russell Investments

Down, Set, Hut! Quarterbacking your LDI Program. Martin Jaugietis, CFA Managing Director, LDI Solutions, Russell Investments Down, Set, Hut! Quarterbacking your LDI Program Martin Jaugietis, CFA Managing Director, LDI Solutions, Russell Investments Funded Ratios (%) The end zone is getting closer funding levels have improved

More information

Mexican Wholesale Electricity Market Report 2017

Mexican Wholesale Electricity Market Report 2017 September 2017 Mexican Wholesale Electricity Market Report 2017 By Veronica Irastorza Introduction The Mexican Wholesale Electricity Market (Mercado Eléctrico Mayorista, or MEM) started operations in 2016,

More information

PHOENIX ENERGY MARKETING CONSULTANTS INC. HISTORICAL NATURAL GAS & CRUDE OIL PRICES UPDATED TO July, 2018

PHOENIX ENERGY MARKETING CONSULTANTS INC. HISTORICAL NATURAL GAS & CRUDE OIL PRICES UPDATED TO July, 2018 Jan-01 $12.9112 $10.4754 $9.7870 $1.5032 $29.2595 $275.39 $43.78 $159.32 $25.33 Feb-01 $10.4670 $7.8378 $6.9397 $1.5218 $29.6447 $279.78 $44.48 $165.68 $26.34 Mar-01 $7.6303 $7.3271 $5.0903 $1.5585 $27.2714

More information

2019 Budget and Grid Management Charge Initial Stakeholder Meeting

2019 Budget and Grid Management Charge Initial Stakeholder Meeting 2019 Budget and Grid Management Charge Initial Stakeholder Meeting July 24, 2018 Agenda Topic: Welcome and Introductions Presenter: Kristina Osborne 2019 Budget Process & GMC Rate Outlook April Gordon

More information

Fiscal Year 2018 Project 1 Annual Budget

Fiscal Year 2018 Project 1 Annual Budget Fiscal Year 2018 Project 1 Annual Budget Table of Contents Table Page Summary 3 Summary of Costs Table 1 4 Treasury Related Expenses Table 2 5 Summary of Full Time Equivalent Table 3 6 Positions Cost-to-Cash

More information

U.S. and New England Economic Conditions and Outlook

U.S. and New England Economic Conditions and Outlook U.S. and New England Economic Conditions and Outlook Yolanda Kodrzycki Senior Economist and Policy Advisor charts prepared by Ana Patricia Muñoz presented to New England Board of Higher Education conference

More information

CERVEJAS AMERICANAS. Distributing Beer in Brazil. MIT Center for Transportation Studies Cambridge, MA & Amaxon Beer Company Miami, FL

CERVEJAS AMERICANAS. Distributing Beer in Brazil. MIT Center for Transportation Studies Cambridge, MA & Amaxon Beer Company Miami, FL CERVEJAS AMERICANAS Distributing Beer in Brazil MIT Center for Transportation Studies Cambridge, MA & Amaxon Beer Company Miami, FL Matthew Burt, Sanjeev Kalanidhi, Hector Lozano, Gokhan Usanmaz and Wen

More information

Further information on mid-year tariff changes following the September 2010 Customer Seminars

Further information on mid-year tariff changes following the September 2010 Customer Seminars Further information on mid-year tariff changes following the September 2010 Customer Seminars National Grid received a number of questions at the Customer Seminars on National Grid s proposal to update

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2018

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2018 PRESS RELEASE 10 December 2018 Securities issued by Hungarian residents and breakdown by holding sectors October 2018 According to securities statistics, the amount outstanding of equity securities and

More information

Determination (9 /2010) of a Customer Complaint Submitted by a Customer Against Muscat Electricity Distribution Company SAOC

Determination (9 /2010) of a Customer Complaint Submitted by a Customer Against Muscat Electricity Distribution Company SAOC Determination (9 /2010) of a Customer Complaint Submitted by a Customer Against Muscat Electricity Distribution Company SAOC 1. Introduction 1.1 The Authority for Electricity Regulation, Oman (the Authority)

More information

Review of Membership Developments

Review of Membership Developments RIPE Network Coordination Centre Review of Membership Developments 7 October 2009/ GM / Lisbon http://www.ripe.net 1 Applications development RIPE Network Coordination Centre 140 120 100 80 60 2007 2008

More information

Preparing Mexico s Legal Framework for Energy Markets

Preparing Mexico s Legal Framework for Energy Markets Preparing Mexico s Legal Framework for Energy Markets George Baker Energia.com May 2013 Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer

More information

Section 6621 of the Internal Revenue Code establishes the interest rates on

Section 6621 of the Internal Revenue Code establishes the interest rates on Part 1 Section 6621.--Determination of Rate of Interest 26 CFR 301.6621-1: Interest rate. Rev. Rul. -32 Section 6621 of the Internal Revenue Code establishes the interest rates on overpayments and underpayments

More information

LOUISVILLE GAS AND ELECTRIC COMPANY Gas Rates 2018 Monthly Billing Adjustments

LOUISVILLE GAS AND ELECTRIC COMPANY Gas Rates 2018 Monthly Billing Adjustments 2018 Monthly Billing Adjustments GAS LINE TRACKER CHARGES GAS LINE TRACKER CHARGES DSM (2) PER MONTH PER METER PER MONTH PER CCF TAX CUTS AND JOBS ACT $ Per CCF Firm Trans. SURCREDIT ($ per ccf) (3) GAS

More information

First Quarter 2015 Earnings Presentation. May 1, 2015

First Quarter 2015 Earnings Presentation. May 1, 2015 First Quarter 2015 Earnings Presentation May 1, 2015 Agenda Strategic Review Financial Review Questions and Answers Edward Tilly Chief Executive Officer Alan Dean Executive Vice President, CFO and Treasurer

More information

Better Budgeting Practices

Better Budgeting Practices Better Budgeting Practices Presentation to the NCSL YNP s Next-Gen Legislators Pre-Conference December 9, 2015 Luke E. Martel Director of Strategic Initiatives Presentation Outline State Budgeting 101

More information

MONTHLY FINANCIAL REPORT June 2009

MONTHLY FINANCIAL REPORT June 2009 California Independent System Operator MONTHLY FINANCIAL REPORT June 2009 151 Blue Ravine Road Folsom, CA 95630 (916) 351-4000 CALIFORNIA INDEPENDENT SYSTEM OPERATOR CORPORATION MONTHLY FINANCIAL REPORT

More information

OTHER DEPOSITS FINANCIAL INSTITUTIONS DEPOSIT BARKAT SAVING ACCOUNT

OTHER DEPOSITS FINANCIAL INSTITUTIONS DEPOSIT BARKAT SAVING ACCOUNT WEIGHTAGES JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC ANNOUNCEMENT DATE 19.Dez.14 27.Jän.15 24.Feb.15 26.Mär.15 27.Apr.15 26.Mai.15 25.Jun.15 28.Jul.15 26.Aug.15 23.Sep.15 27.Okt.15 25.Nov.15 MUDARIB

More information

Methodology. Results based on the full sample have a margin of sampling error of plus or minus three percentage points.

Methodology. Results based on the full sample have a margin of sampling error of plus or minus three percentage points. Questions 1-21 and 46-47 are for release after 6:00PM/ET Tuesday, February 14, 2017. Questions 22-26 are for release after 6:00PM/ET Wednesday, February 15, 2017. Questions 42-45 are for release after

More information

Section 6621(c) provides that for purposes of interest payable under 6601 on any large corporate underpayment, the underpayment

Section 6621(c) provides that for purposes of interest payable under 6601 on any large corporate underpayment, the underpayment Section 6621. Determination of Interest Rate 26 CFR 301.6621 1: Interest rate. Interest rates; underpayments and overpayments. The rate of interest determined under section 6621 of the Code for the calendar

More information

QUARTERLY FINANCIAL REPORT March 31, 2018

QUARTERLY FINANCIAL REPORT March 31, 2018 California Independent System Operator QUARTERLY FINANCIAL REPORT March 31, 2018 250 Outcropping Way Folsom, CA 95630 (916) 351-4000 CALIFORNIA INDEPENDENT SYSTEM OPERATOR CORPORATION QUARTERLY FINANCIAL

More information

2011 Budget Initial Stakeholder Call

2011 Budget Initial Stakeholder Call 2011 Budget Initial Stakeholder Call Michael Epstein Director of Financial Planning June 23, 2010 Agenda TOPIC PRESENTER Introduction Steve Berberich Budget principles & strategic initiatives Steve Berberich

More information

Washington Gas Light Company Utility Rate Requests District of Columbia Formal Case No Decision May 15, 2013

Washington Gas Light Company Utility Rate Requests District of Columbia Formal Case No Decision May 15, 2013 Washington Gas Light Company Utility Rate Requests District of Columbia Formal Case No. 1093 Decision May 15, 2013 July 25, 2013 Update to AOBA Utility Committee Meeting 1 Formal Case No. 1093 Base Rate

More information

Management Reports. June for PREPARED BY POWERED BY

Management Reports. June for PREPARED BY POWERED BY Management Reports for June 217 PREPARED BY POWERED BY Contents 1. Management Reports Cashflow Forecast Actual vs Budget P&L Forecast Where Did Our Money Go? Net Worth 2. Understanding your Reports 3.

More information

RESPONSES TO SURVEY OF

RESPONSES TO SURVEY OF RESPONSES TO SURVEY OF MARKET PARTICIPANTS Markets Group, Federal Reserve Bank of New York 0 RESPONSES TO SURVEY OF a v MARCH Distributed: 3/8/ Received by: 3/12/ The Survey of Market Participants is formulated

More information

QUARTERLY FINANCIAL REPORT June 30, 2017

QUARTERLY FINANCIAL REPORT June 30, 2017 California Independent System Operator QUARTERLY FINANCIAL REPORT June 30, 2017 250 Outcropping Way Folsom, CA 95630 (916) 351-4000 CALIFORNIA INDEPENDENT SYSTEM OPERATOR CORPORATION QUARTERLY FINANCIAL

More information

Enhancements to Bidding Requirement

Enhancements to Bidding Requirement ICAP Spot Market Auction Enhancements to Bidding Requirement Sheri Prevratil Manager, Corporate Credit New York Independent System Operator Credit Policy Working Group May 14, 2012 Rensselaer, NY 2012

More information

HIPIOWA - IOWA COMPREHENSIVE HEALTH ASSOCIATION Unaudited Balance Sheet As of July 31

HIPIOWA - IOWA COMPREHENSIVE HEALTH ASSOCIATION Unaudited Balance Sheet As of July 31 Unaudited Balance Sheet As of July 31 Total Enrollment: 407 Assets: Cash $ 9,541,661 $ 1,237,950 Invested Cash 781,689 8,630,624 Premiums Receivable 16,445 299,134 Prepaid 32,930 34,403 Assessments Receivable

More information

HIPIOWA - IOWA COMPREHENSIVE HEALTH ASSOCIATION Unaudited Balance Sheet As of January 31

HIPIOWA - IOWA COMPREHENSIVE HEALTH ASSOCIATION Unaudited Balance Sheet As of January 31 Unaudited Balance Sheet As of January 31 Total Enrollment: 371 Assets: Cash $ 1,408,868 $ 1,375,117 Invested Cash 4,664,286 4,136,167 Premiums Receivable 94,152 91,261 Prepaid 32,270 33,421 Assessments

More information

Employers Compliance with the Health Insurance Act ANNUAL REPORT. Bermuda. Health Council

Employers Compliance with the Health Insurance Act ANNUAL REPORT. Bermuda. Health Council Employers Compliance with the Health Insurance Act 1970 2016 ANNUAL REPORT Bermuda ea Health Council Employers Compliance with the Health Insurance Act 1970 2016 Annual Report Contact us: If you would

More information

Informed Storage: Understanding the Risks and Opportunities

Informed Storage: Understanding the Risks and Opportunities Art Informed Storage: Understanding the Risks and Opportunities Randy Fortenbery School of Economic Sciences College of Agricultural, Human, and Natural Resource Sciences Washington State University The

More information

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2017

PRESS RELEASE. Securities issued by Hungarian residents and breakdown by holding sectors. October 2017 11 December 2017 PRESS RELEASE Securities issued by Hungarian residents and breakdown by holding sectors October 2017 According to securities statistics, the amount outstanding of equity securities and

More information

What s new in LDI Expanding the toolkit

What s new in LDI Expanding the toolkit Pensions Conference 2012 Steven Catchpole What s new in LDI Expanding the toolkit 1 June 2012 Introduction The LDI toolkit is expanding Several new tools are becoming more common: Swaptions Gilt total

More information

Regional overview Auckland

Regional overview Auckland Regional overview Purchasing intentions - additional income-related rent subsidy (IRRS) places Area North West Central South 1 2 3 4+ TOTAL 8 4 5 125 16 2 9 7 52 25 185 8 3 545 2 28 13 1 71 total 69 75

More information

Trading in California s Carbon Market: A summary of trading activity, products and drivers

Trading in California s Carbon Market: A summary of trading activity, products and drivers Trading in California s Carbon Market: A summary of trading activity, products and drivers Prepared by: John P. Battaglia Director, Carbon Markets Prepared for: American Carbon Registry and Marten Law

More information

DALLAS COUNTY DISTRICT COURT ADMINISTRATION

DALLAS COUNTY DISTRICT COURT ADMINISTRATION DALLAS COUNTY DISTRICT COURT ADMINISTRATION April 14, 2009 BRIEFING MEMORANDUM TO: FROM: Honorable Commissioners Court Duane Allen Gallup ADR Coordinator SUBJECT: ADR Program & Dispute Mediation Services

More information

Mexican Q1 economic data: a reality shock, or there is still a brighter outlook?

Mexican Q1 economic data: a reality shock, or there is still a brighter outlook? Mexican Q1 economic data: a reality shock, or there is still a brighter outlook? Rafael Amiel, Director Latin America Economics IHS Global Insight Julio 2013 Mexico becomes fashionable again Mexico Makes

More information

Russell 2000 Index Options

Russell 2000 Index Options Interactive Brokers Webcast Russell 2000 Index Options April 20, 2016 Presented by Russell Rhoads, Senior Instructor Disclosure Options involve risks and are not suitable for all investors. Prior to buying

More information

Advanced Budgeting Workshop. Contents are subject to change. For the latest updates visit

Advanced Budgeting Workshop. Contents are subject to change. For the latest updates visit Advanced Budgeting Workshop Page 1 of 8 Why Attend 'Advanced Budgeting Workshop' is the second level course in budgeting after Meirc's 'Effective Budgeting and Cost ' course. It goes beyond the theory

More information

Introduction to Futures & Options Markets for Livestock

Introduction to Futures & Options Markets for Livestock Introduction to Futures & Options Markets for Livestock Kevin McNew Montana State University Marketing Your Cattle Marketing: knowing when and how to price your cattle. When Prior to sale At time of sale

More information

Asphalt Supply 101. David C. Punnett Manager Business Development Asphalt and Fuel Supply, LLC

Asphalt Supply 101. David C. Punnett Manager Business Development Asphalt and Fuel Supply, LLC Asphalt Supply 101 David C. Punnett Manager Business Development Asphalt and Fuel Supply, LLC Always Consider Your Surroundings Always Consider Your Surroundings, The Sequel Gluts and disconnects Glut

More information

Mexico Energy Report Methodology

Mexico Energy Report Methodology Mexico Energy Report Methodology Methodology last updated: 8 January 2018 Expiry date for this methodology: 6 July 2019 1 Introduction to the Mexico Energy Report (MER) The Mexico Energy Report (MER) focuses

More information

NIESR Monthly Estimates of GDP 11 April, GDP growth of 0.2 per cent for the first quarter of 2018 *For Immediate release*

NIESR Monthly Estimates of GDP 11 April, GDP growth of 0.2 per cent for the first quarter of 2018 *For Immediate release* Press Release GDP growth of 0.2 per cent for the first quarter of 2018 *For Immediate release* Our monthly estimates of GDP suggest that output growth slowed to 0.2 per cent in the first quarter of 2018

More information

SHARETHIS FINANCE STUDY

SHARETHIS FINANCE STUDY SHARETHIS FINANCE STUDY EVERY MONTH, 32 MILLION USERS GENERATE 68 MILLION SOCIAL ACTIONS RELATED TO FINANCE. 32 Million Finance Sharers SHARETHIS SOCIAL INTELLIGENCE PLATFORM 53 Billion Webpage Views 3.1

More information

HOLLY DRIVE LEADERSHIP ACADEMY CASHFLOW PROJECTIONS FISCAL YEAR

HOLLY DRIVE LEADERSHIP ACADEMY CASHFLOW PROJECTIONS FISCAL YEAR FISCAL YEAR 201920 2020 2020 PRIOR YEAR P2 P1 P2 201920 201920 Jul19 Aug19 Sep19 Oct19 Nov19 Dec19 Jan20 Feb20 Mar20 Apr20 May20 Jun20 Accrual Actuals INCOME 80118096 Local Control Funding Formula Sources

More information