Pursuant to the Notice of Inquiry (“Notice”) issued November 15, 2012,1 by the Federal Energy Regulatory Commission (“Commission”) in the above-referenced proceeding, American Forest & Paper Association, Inc.,2 the American Gas Association,3 the Gas Processors Association,4 the Independent Petroleum Association of America,5 the Interstate Natural Gas Association of America,6 the Natural Gas Supply Association,7 the Process Gas Consumers Group,8 and the Texas Pipeline Association,9 (collectively, the “Trade Associations”), respectfully submit these joint comments. The Trade Associations are concerned that given the Commission’s limited jurisdiction over wholesale sales of natural gas, the proposal set forth in the Notice will not improve and may actually harm market transparency, and will place an inconsistent and unfair burden on natural gas market participants. Accordingly, the Trade Associations urge the Commission to reconsider its approach and not move forward with the proposal in the Notice.