Quorum Leads the Way in Compliance with Upcoming NAESB and FERC ChangesJanuary 12, 2016
Houston – January 12, 2016. Quorum, the industry leader in software for hydrocarbon and energy business management, leads the industry with the early availability of the latest North American Energy Standards Board (NAESB) Wholesale Gas Quadrant standards (Version 3.0) and the Federal Energy Regulatory Commission (FERC) Order 809 regulatory change to improve gas-electric harmonization. The enhancements in the Quorum Pipeline Transaction Management (QPTM) software will allow regulated natural gas pipeline and storage facility operators to be prepared well before the FERC’s implementation date of April 1, 2016.
“Regulatory compliance is one of the most important priorities for pipeline and storage facility operators. Quorum is committed to staying ahead of ever changing regulations to help our customers minimize disruptions in their business”, says Marc Spitzenberger, Quorum’s Energy Transportation Vertical Lead. “Quorum has already implemented the necessary changes to the software that will ensure our customers comply with the upcoming regulations when they take effect on April 1, 2016.”
Highlights of the QPTM software updates include:
- Increase from four to five nomination cycles per day
- Addition of a sixth capacity release recall notification period
- Removal of location common codes
- Addition of the new Location Data Download to provide a complete location listing for the pipeline
- Adoption of modified Index of Customers instructions to incorporate removal of location common codes
- Addition of design capacity information in Operational Capacity dataset
NAESB consists of industry participants that develop business processes and standards to maintain a seamless marketplace for wholesale and retail natural gas and electricity. Periodically, NAESB develops and releases new standards that affect gas pipeline and storage facility transactions. Each new standard is ultimately adopted by the FERC and requires compliance by regulated pipeline and storage facility operators.
To learn more about why Quorum is superior in transaction management for pipelines, visit www.qbsol.com.
Quorum makes innovative software for hydrocarbon and energy business management. Our platform of integrated solutions is designed with deep industry expertise using next-generation technology. It delivers advanced functionality, improved efficiency, and enhanced regulatory compliance. And it is proven to maximize profit throughout the energy value chain to drive customer success. For more information, visit www.qbsol.com.