After 14 hours of deliberation, jurors in the false gas price reporting case of former Dynegy gas trader Michele Valencia and former El Paso Merchant Energy vice president Greg Singleton reached a verdict on some counts but not others.
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Illinois Regulators Adopt Governor’s Sustainable Energy Plan
Following more than five months of public comment and deliberation, the Illinois Commerce Commission (ICC) adopted Gov. Rod Blagojevich’s sustainable energy plan. The ICC resolution issued Tuesday largely reflects the proposal the governor submitted to the ICC last February that called for both a renewable energy and energy efficiency portfolio standard.
Nymex Gives Swap Traders New Options
After nearly two years of deliberation, the Commodity FuturesTrading Commission conditionally approved a new rule permitting theNew York Mercantile Exchange to hold a three-year pilot duringwhich futures contracts can be exchanged for positions in swaptransactions (EFS transactions). Rule 6.21A is designed to providea closer link between the on-exchange futures market andoff-exchange swaps markets, giving off-exchange participantsgreater ability to manage the risks associated with swap positions.
Nymex Gives Swap Traders a New Tool
After nearly two years of deliberation, the Commodity FuturesTrading Commission last week conditionally approved a new rule,permitting the New York Mercantile Exchange to hold a three-yearpilot during which futures contracts can be exchanged for positionsin swap transactions (EFS transactions).