Another important information development is the weekly storage estimates. The AGA has responded to the need for information in this area by surveying its members weekly and quickly disseminating this information electronically. In 1997 new procedures were instituted providing more timely and comprehensive pipeline information. Finally, in 1996, the first electronic gas trading systems came online. Now, actual bid and ask prices are available in real time.
Information is available on completed trades.
In summary, the development of new information sources and the technology to allow quick access to that information has moved the industry from one in which gas was traded principally under long-term contracts to one where gas can be traded electronically on a daily basis. As retail markets in natural gas and electricity develop, reliable price information will become crucial for 'energy shoppers'. Wide dissemination of daily price and quantity information including daily storage estimates. The industries operate differently with respect to contracting and nominations. Some standardization across the industries will be needed to support exchanges.