FERC Fights To Keep Power Over Energy Derivatives

Law360, New York (December 2, 2009, 6:07 PM EST) -- The head of the Federal Energy Regulatory Commission on Wednesday urged members of a U.S. House of Representatives committee to amend pending over-the-counter derivatives legislation to ensure that swaps in regional electricity markets stay under FERC's sole authority.

FERC Chairman Jon Wellinghoff told the House Energy and Commerce Committee's subcommittee on energy and the environment that the current definition of the term “swap” in the Over-the-Counter Derivatives Markets Act passed by the House Agriculture Committee could hand oversight of key energy derivatives to regulators at the...
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