FERC Filings
Motion for Clarification of the Electric Power Supply Association re: Price Discovery in Natural Gas and Electric Markets
Introduction
Price Discovery in Natural Gas and Electric Markets
Docket No. PL03-3-000
On July 24, 2003, the Commission issued a Policy Statement on Natural Gas and Electric Price Indices (Policy Statement). The goal of the Policy Statement is to assure accurate and dependable wholesale price information and provide industry participants safe harbor protection for good faith reporting of transaction data to entities that develop price indices. The Electric Power Supply Association (EPSA) lauds both of those goals.
The Commission expressed its hopes that this Policy Statement will “encourage more voluntary price reporting” and notes that “[I]f voluntary reporting does not increase to the point that indices are sufficiently robust to support a healthy market … the Commission will consider further action.” (Para. 42).
In order to promote increased voluntary price reporting, EPSA respectfully asks that the Commission clarify certain specific aspects of the Policy Statement. The areas in which EPSA seeks clarification involve the Commission’s use of certain terms that are not presently well defined in the electric industry. Providing greater definition for these terms will go a long way towards clarifying the Commission’s expectations in the Policy Statement.