October 15, 2020
NGSA Statement on CFTC’s Final Position Limits Rule
(Washington, D.C.) – Following the news of a final position limits rule by the Commodity Futures Trading Commission (CFTC), the Natural Gas Supply Association (NGSA) released the following statement.
NGSA’s Senior Vice President of Government Affairs Jenny Fordham said:
“Although it will take time to work through the details of the final rule, we are pleased that the Commission has finalized position limits after nearly a decade of work.
“It is evident that the Commission took the time to understand energy markets and develop a rule that recognizes market differences and hedging practices necessary to affordable commodity production. By avoiding a one-size-fits-all approach, the rule will facilitate sound market function and hedging. We are especially pleased to see the Commission’s careful attention to end-user concerns, such as storage capacity hedging and the ability to retain exposure to index.
“Phased implementation of the rule as we navigate the economic uncertainty ahead will help facilitate sound compliance of the comprehensive rule.”
NGSA has advocated for effective, workable position limits for energy commodities since the passage of Dodd-Frank in 2010. NGSA filed its most recent comments in May of this year.
NGSA Praises FERC Action on Carbon Pricing
(Washington, D.C.) – Following today’s release of a proposed policy statement on carbon pricing by the Federal Energy Regulatory Commission (FERC), the Natural Gas Supply Association (NGSA) released the following statement.
NGSA President and CEO Dena Wiggins said:
“Chairman Chatterjee demonstrated outstanding leadership in bringing carbon pricing up for discussion before the Commission and we are delighted that he continues to advance the issue with bipartisan support. We believe carbon pricing is a critical policy for securing a clean, reliable and affordable energy future.“
NGSA Executive Vice President Pat Jagtiani said:
“FERC’s proposed policy statement sends a clear signal to RTOs, ISOs, states and other key stakeholders of its willingness to consider proposals that include carbon pricing. A price on carbon is the most effective longterm solution in power markets, enabling states and regions to achieve carbon reductions without compromising competitive power markets and the benefits they’ve provided to consumers.”
NGSA announced its support for carbon pricing in 2019 and testified at FERC’s recent technical conference on September 30. More information on NGSA’s carbon pricing support can be found here and here at NGSA.org.