FERC seeks additional information about simultaneous exchange transactions
19 March 2012Energy Alert
On 15 March 2012, FERC issued a notice of proposed rulemaking (NOPR) proposing to revise the Electric Quarterly Report (EQR) Data Dictionary to add “Simultaneous Exchange” to the list of available Product Names. In its NOPR, FERC explained that it is “generally concerned that the complexity of simultaneous exchanges may obscure the true nature of these transactions, and may enable market participants to circumvent market rules.” The proposed change to FERC’s existing quarterly transaction reporting regime will present compliance challenges to wholesale electricity sellers’ front, mid, and back office departments, as sellers must update their trade capture and reporting procedures and software to identify and report simultaneous exchange transactions. Comments on this NOPR will be due 60 days from the date of publication in the Federal Register (sometime in mid-May 2012).