The Electric Power Supply Association (EPSA) on Monday reported to federal regulators that it has received letters from over 30 power suppliers that sit on EPSA’s board certifying that they have put in place polices and procedures designed to assure their compliance with EPSA’s recently adopted code of ethics for suppliers.

EPSA last September unveiled the code of ethics and sound trading practices calling on power suppliers to accurately report financial results, avoid the unlawful withholding of available power supplies and refrain from engaging in questionable power trading moves, such as “wash” trades (see Power Market Today, Sept. 20, 2002).

As a condition of membership for EPSA board-level companies, the association now requires an annual certification by a senior executive “that it is the intention of the company to comply with the code and that the company has in place policies and procedures reasonably designed to assure compliance,” wrote EPSA President Lynne Church in separate letters to FERC and the Commodities Futures Trading Commission (CFTC).

As of the end of January, EPSA has received certification letters from all 33 current board members, Church told FERC and the CFTC.

“We know from communications and discussions with our member company representatives that they are addressing their obligations with care and due diligence,” Church said. “We are gratified by their support for the initiative and the unanimity of their responses. It reflects an affirmation of the companies’ commitment to high ethical standards and efforts to eradicate the questionable practices outlined in the code.”

Going forward, EPSA said that it will continue to review the content of the code and its enforcement through the association’s new standing Ethics Committee.

Church also told FERC that EPSA continues to “support your own efforts to develop a more standardized design for the interstate electricity markets, which will further ensure the implementation of clear, consistent and non-discriminatory rules.”

EPSA’s 2003 board members include the following companies:

For more information on EPSA, visit the association’s website at: https://www.epsa.org/

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