Inventory Revaluation Methodology Sample Clauses

Inventory Revaluation Methodology. As a result of its commitment at Section 12, Union has withdrawn its request for a change in the trigger mechanisms in the 2001/2 Customer Review Process. The following parties agree with the settlement of this issue: CAC, CEED, IGUA, LPMA, Schools, Tobacco, VECC, Group The following parties take no position on this issue: CME, CCK, ECG, GEC, HVAC, OAPPA, Pollution Probe, TCPL Evidence References:
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Inventory Revaluation Methodology. [Complete Settlement] Union is proposing a change in the treatment of inventory revaluations. Currently, Union revalues all the gas in inventory at the time Union’s rates and deferral account reference prices are changed. This assumes that all gas in inventory is required to meet the sales requirements of Union’s system customers. However, Union has a significant amount of gas in inventory to meet Union’s requirement to balance bundled direct purchase customers. Since inventory revaluation amounts are cleared to sales customers only, sales customers may wind up paying more or less than Union’s actual cost of gas. With dramatic changes in gas prices during 2000 and 2001, the potential overstatement of inventory revaluations is significant. In addition, as more of Union’s sales customers move to direct purchase, the inventory revaluation amount would be recovered from a smaller number of system sales customers. Union is proposing that inventory revaluations should only be applied to the portion of gas in inventory that is related to meeting the needs of system customers. Union is also proposing that the accounting order be changed to record the gas required to balance direct purchase customers separately from gas in inventory that is available for sale so that Union will no longer revalue Union’s gas required to balance direct purchase customers. In addition, Union will annually assess the inventory for balancing direct purchase and adjust the inventory accounts, as necessary. Parties accept Union’s proposal in respect of inventory revaluation subject to Union participating in a future review of system gas. This review will consider Union’s system gas pricing, the QRAM process, inventory revaluations and triggers. This review is expected to occur in conjunction with the next Enbridge Consumers Gas (“ECG”) rate case following ECG’s fiscal 2002 or in a generic proceeding held specifically for that purpose subsequent to ECG’s fiscal 2002. The following parties agree with the settlement of this issue: CAC, CEED, CCK, IGUA, LPMA, Schools, Tobacco, VECC, Group The following parties take no position on this issue: CME, ECG, GEC, HVAC, OAPPA, Pollution probe, TCPL Evidence References:

Related to Inventory Revaluation Methodology

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  • PROGRESS EVALUATION Engineer shall, from time to time during the progress of the Engineering Services, confer with County at County’s election. Engineer shall prepare and present such information as may be pertinent and necessary, or as may be reasonably requested by County, in order for County to evaluate features of the Engineering Services. At the request of County or Engineer, conferences shall be provided at Engineer's office, the offices of County, or at other locations designated by County. When requested by County, such conferences shall also include evaluation of the Engineering Services. County may, from time to time, require Engineer to appear and provide information to the Xxxxxxxxxx County Commissioners Court. Should County determine that the progress in Engineering Services does not satisfy an applicable Work Authorization or any Supplemental Work Authorization related thereto, then County shall review same with Engineer to determine corrective action required. Engineer shall promptly advise County in writing of events which have or may have a significant impact upon the progress of the Engineering Services, including but not limited to the following:

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