§824t Electricity Market Transparency Rules

Summary

Require the Commission to make electricity markets more open about prices and availability for sales and transmission that cross state lines. The Commission may write rules to share timely price and availability data with itself, state regulators, buyers and sellers, transmission users, and the public. It can collect that data from any market participant and can use other groups to gather and publish the information. The Commission must try to use existing price publishers and trade services first and may set up an electronic system if those sources do not provide enough transparency. Nothing here changes any electronic filing rules that were already in effect on August 8, 2005. The rules can keep out information that would harm market function or system security. The Commission must avoid releasing transaction details too quickly if that would help collusion or other unfair behavior. Within 180 days of August 8, 2005, the Commission must make a written agreement with the Commodity Futures Trading Commission to coordinate information requests and protect proprietary trading data, without affecting the CFTC’s exclusive jurisdiction. Small participants with only a de minimis market presence are exempt. Civil penalties generally cannot reach back more than 3 years from notice of a proposed penalty, except for fraudulent market manipulation that affects contracts. This section does not apply to transactions in the area described in section 824k(k)(2)(A).