News
October-December 2003
News Release: November 13, 2003 | ![]() |
Docket Numbers: EL01-118-000, EL01-118-001 and RM03-10-000 |
COMMISSION ACTS TO CURB ABUSE,
SETS “RULES OF THE ROAD” FOR ENERGY MARKETS
The Federal Energy Regulatory Commission moved today to issue
a set of market behavior rules designed to help prevent market
abuse, provide a more stable marketplace and create an environment
that will attract needed investment capital in the electric and
natural gas industries.
The market behavior rules are intended to alert sellers to various
types of prohibited behavior. In addition, the rules contain the
breadth and flexibility to address new and unanticipated activities
as they may arise.
The electric and gas rules contain provisions relating to: market
manipulation, reporting, and record retention. The electric rule
also contains provisions related to unit operations, communications
and related tariffs.
If a seller is found to have engaged in prohibited behavior,
the seller would be subject to disgorgement of unjust profits
and non-monetary remedies such as revocation of the seller’s
market-based rate authority or blanket certificate authority.
The new rules are designed to provide more effective remedies
on behalf of customers and to provide those entities with market-based
rates or blanket gas certificates appropriate rules respecting
market conduct with a time-limited third-party complaint window.
The market rules are effective 30 days after publication in the
Federal Register.
R-03-44
(30)
![]() |