Cracking Down On Cross-Market Hedging

Law360, New York (May 21, 2012, 2:27 PM EDT) -- The Federal Energy Regulatory Commission insists that its rules concerning manipulative energy transactions are clear, and that it has the jurisdiction to pursue manipulation claims wherever the trail may lead, even if it is to markets that lie beyond its traditional stomping grounds in wholesale gas and electric markets for physically delivered products. But industry observers question both propositions.

FERC’s recent activities on a number of fronts highlight where the battle lines are being drawn. On April 5, 2012, FERC issued a Notice of Alleged Violations...
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