Industry group favors FERC over CFTC

The Electric Power Supply Association and Edison Electric Institute recommend that Congress explicitly limit the CFTC’s authority over wholesale power markets, leaving that oversight to FERC. Subcommittee Chairman Edward Markey has said derivatives legislation approved by the House Financial Services and Agriculture Committees “needs to be fixed” to prevent it from “interfering” with power and natural gas markets. “Clear and unambiguous authority for FERC to regulate these transactions is essential,” said Moler, a former chairman of FERC and vice president for public affairs and government policy at Exelon Corp. “We see no reason for duplicative” regulation.

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