NGI Completes Annual Price Index Audit

By NGI Staff Reports

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Natural Gas Intelligence (NGI), a leading Price Reporting Agency (PRA) covering the North American natural gas market since 1981, has successfully completed its annual audit for 2023 pertaining to the processes and procedures for compiling NGI’s Daily, Weekly and Monthly (Bidweek) natural gas price indexes.

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NGI is proud to announce that no exceptions were found. A link to the audit report can be found here.

The goal of the audit, conducted by accounting firm Barnes, Dennig & Co. Ltd., was to evaluate whether NGI’s published indexes were in accordance with policies and procedures detailed in NGI’s Price Index Methodology & Code of Conduct. The document includes policies on collection of data, the provenance of data, verification of exclusions and assessments rationale, as well as recordkeeping and accuracy of computations.

“NGI takes its role in price transparency seriously and continues to work with FERC, the Intercontinental Exchange (ICE) and our many price data providers, to stay ahead of changes in the marketplace and to enhance the price indexes that we offer,” said NGI’s Executive Publisher Dexter Steis. “We are pleased to complete another annual audit that serves as confirmation that we are complying with NGI’s stated policies and best practices for PRAs as set forth by the Federal Energy Regulatory Commission.”

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