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EPSA Hails House Passage Of Bipartisan Bills To Amend Dodd-Frank
Urges Action on Hultgren Bill As Important Next Step
WASHINGTON, D.C. - Electric Power Supply Association (EPSA) President and CEO John E. Shelk issued the following statement in light of yesterday's passage in the U.S. House of Representatives of H.R. 2682, to exempt commercial end-users from margin requirements imposed under the Dodd-Frank financial reform law, and H.R. 2779, to clarify how new regulations treat inter-affiliate transactions:
"EPSA and our allies in a broad coalition of energy end-users of risk management products subject to CFTC regulation applaud the overwhelming majorities of each party that came together yesterday to adopt these companion pieces of legislation.
"We are encouraged that our efforts to educate Congress continue to show tangible progress. Cost-effective energy risk management is essential to providing consumers with competitively priced, affordable, reliable and environmentally responsible electricity. Overly burdensome rules under the guise of Dodd-Frank implementation run counter to Congressional intent, as reaffirmed yesterday, and make achieving energy and environmental policy goals that much harder.
"While we greatly appreciate yesterday's action and commend the sponsors of the legislation passed by the House yesterday, there are several moving pieces necessary to prevent the CFTC and other regulators from over-reaching. EPSA also strongly urges Congress to act on Representative Hultgren's bill, H.R. 3527, which clarifies how regulators should and should not define "swap dealers' and other key terms that if left unaddressed could still make energy risk management more difficult and more costly."
CONTACT: JOHN SHELK
(202) 349-0154or 703-472-8660
EPSA is the national trade association representing competitive power suppliers, including generators and marketers. These suppliers, who account for nearly 40 percent of the installed generating capacity in the United States, provide reliable and competitively priced electricity from environmentally responsible facilities serving global power markets. EPSA seeks to bring the benefits of competition to all power customers.