The agreement reflecting provisions of the recently enacted Energy Policy Act of 2005 was signed by CFTC Chairman Reuben Jeffery III and FERC Chairman Joseph T. Kelliher. The Energy Policy Act directed the MOU to ensure that “information requests to markets within the respective jurisdiction of each agency are properly coordinated to minimize duplicative information requests,” and to address “the treatment of proprietary trading information.”
Congress directed that the MOU be completed within six months of the Energy Policy Act’s August 8, 2005, effective date.
In signing the MOU, CFTC Chairman Jeffery said, “This MOU will result in a more effective and efficient working relationship with FERC. It will enable both agencies to work actively to assure the price integrity of the markets for natural gas and other energy products.”
FERC Chairman Kelliher said, “The fact that we have this agreement with the CFTC four months ahead of schedule is a clear sign of the enhanced cooperation and coordination between our two agencies. This means the agreement is in place well before the winter heating season, when already stressed energy prices will require vigilance. This agreement will contribute to better coordination of enforcement.”
A copy of the MOU is available at www.cftc.gov and www.ferc.gov.
