OK, so my company is shopping for a new Natural Gas provider. The various ESCOs’ variable rates are all based on the monthly NYMEX settlement. Not one of the providers who we have contacted for a quote can tell us how the NYMEX monthly settlement is calculated. It doesn’t appear to be an average or maybe it is but I can’t figure out what figures they’re averaging. I’ve tried searching but I’m not getting the information I need. I found a gov web site with the daily NYMEX rates going back to 1997 and also a list of the monthly settlement rates but not how the settlement is calculated.
So I’m reaching out to you dopers, the smartest people in the world, in hopes that someone out there knows what this is, knows how it’s calculated and can either explain it to me or point me to an informative web site.
I appreciate any information you can provide. Thanks.
P. S. apparently this question is what halted progress on finding a new provider two years ago and that inability to make a decision on the part of one of our board members has cost the company approximately $40K. :rolleyes: