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Statement: April 19, 2007 Print this page
Docket Nos: RM07-10-000 and AD06-11-000

Commissioner Spitzer's statement on Transparency Provisions of Section 23 of the Natural Gas Act

"On October 13, 2006, the Commission held a public conference to address how the Commission should exercise new authority in the Energy Policy Act of 2005 (EPAct 2005) regarding price transparency in wholesale natural gas and electric markets. During this informative conference the Commission heard a variety of views, including a call for the Commission to mandate price reporting and contrary arguments that mandatory reporting could result in the elimination of fixed-price contracts. Parties filed comments thereafter.

Recognizing that Congress intended that improvement of Commission market oversight activities through EPAct 2005, the Commission's notice of proposed rulemaking proposes to impose daily reporting requirements for intrastate pipelines to post the capacities and volumes of natural gas flowing through their major receipt and delivery points and mainline segments, and an annual posting requirement for certain buyers and sellers of natural gas to report the numbers and volumes of relevant transactions for the previous calendar year. The NOPR does not propose to impose similar rules for electricity at this time because it is addressing electric market transparency in other cases, including its final rule reforming the Open Access Transmission Tariff.

I look forward to the thoughtful, in-depth comments on the Commission's proposal.

For these reasons, I support these orders."

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