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Subject:
From:
ERCOT Client Services <[log in to unmask]>
Date:
Fri, 12 Oct 2012 16:35:08 +0000
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NOTICE DATE:  October 12, 2012
NOTICE TYPE:  M-A101212-01 Legal
SHORT DESCRIPTION:  CFTC issues "no-action" letter that is effective pending the issuance of its final order on the ISO/RTO joint exemption petition or through March 13, 2013
INTENDED AUDIENCE:  ERCOT Market Participants
DAY AFFECTED:  October 12, 2012

LONG DESCRIPTION:  On August 28, 2012, the Commodity Futures Trading Commission (CFTC) published a Notice of Proposed Order and Request for Comment on a Petition From Certain Independent System Operators and Regional Transmission Organizations to Exempt Specified Transactions Authorized by a Tariff or Protocol approved by the Federal Energy Commission or the Public Utility Commission of Texas From Certain Provisions of the Commodity Exchange Act (Proposed Order). The Proposed Order would exempt certain contracts, agreements and transactions for the purchase or sale of certain electricity-related products defined in the Proposed Order from the provisions of the Commodity Exchange Act and CFTC regulations, with certain designated exceptions.

The CFTC solicited comments on the Proposed Order over a 30-day comment period, which closed on September 27, 2012. Certain provisions of the CFTC's regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act will become effective prior to the issuance of a final version of the Proposed Order. However, the CFTC staff issued a "no-action" letter that preserves the regulatory status quo from the effective date of October 11, 2012, until the earlier of the date that the CFTC may establish in taking final action on the Proposed Order, or March 31, 2013.

Accordingly, the CFTC staff will not recommend commencement of enforcement action with respect to the transactions subject to the Proposed Order during the period between the effective date and termination date.

ADDITIONAL INFORMATION:  The CFTC "no-action" letter is posted on the ERCOT website, under ISO/RTO Council, at http://www.ercot.com/news/presentations/index.

CONTACT:  If you have any questions, please contact Mark Ruane, Vice President Credit & Enterprise Rick Management, via email at [log in to unmask]<mailto:[log in to unmask]>. You may also contact your ERCOT Account Manager or call the general ERCOT Client Services phone number at (512) 248-3900.
If you are receiving email from an ERCOT distribution list that you no longer wish to receive, please follow this link in order to unsubscribe from this list: http://lists.ercot.com.




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