§824t Electricity market transparency rules

Summary

Make electric energy and transmission markets more open by getting timely information about prices and availability to the Commission, State regulators, buyers, sellers, transmission users, and the public. The Commission must write rules to make this happen. It can get data from market participants and let other groups collect and publish the information, as long as confidentiality rules are followed. The Commission should use existing price reporters and trade processors when it can and may build an electronic system only if those sources do not give enough price information. Existing electronic filing rules in effect on August 8, 2005 remain in place. The rules can exclude information whose release would harm market functioning or system security. The Commission must avoid releasing transaction details in a way that could help collusion. Within 180 days of August 8, 2005, the Commission must make an agreement with the Commodity Futures Trading Commission to share information and avoid duplicate requests and to protect proprietary trading data. That agreement does not change the CFTC’s exclusive authority. Small players with a de minimis market presence do not have to report. Civil penalties generally reach back no more than 3 years from the notice date under section 825o–1, except for fraudulent market manipulation in violation of section 824v. This law does not apply to transactions inside the area described in section 824k(k)(2)(A).