Limits

The Commodity Futures Trading Commission (CFTC) on Thursday voted to issue for public comment a supplement to its December 2013 position limits proposal aimed at limiting speculative trading in the swaps markets.

The Commodity Futures Trading Commission (CFTC) is reopening the comment period on a proposed rulemaking designed to limit speculative trading in the swaps markets.

The Commodity Futures Trading Commission (CFTC) has for a second time extended the comment period for two rulemakings aimed at limiting speculative trading in the swaps markets. The agency proposed the rules late last year.

Reaching the deadline for comments on proposed new rules aimed at limiting speculative trading in the swaps markets, the Commodity Futures Trading Commission (CFTC) had heard from dozens of energy companies, financial institutions and others, most recommending alterations to the agency’s proposed rulemaking.

The Washington Utilities and Transportation Commission (UTC) has approved a multi-year rate plan for Puget Sound Energy (PSE) to increase annual limits for natural gas and electricity rates over the next three to four years. PSE’s gas rates would increase by $9.1 million, or 1.55%, and power rates would increase by $52.3 million, or 3.34%, effective Monday (July 1). Rates may increase over the period by a maximum of 3%, with any excess amounts recovered the following year. Also as part of the approval, UTC separated utility profits from sales levels. The so-called “decoupling” allows the utility to recover fixed costs regardless of how much gas and electricity it sells.

Despite protests by state officials and the energy industry, the Boulder (CO) County commission on Tuesday extended a 16-month drilling moratorium now in place by another 18 months, following the lead of the Boulder city council, which earlier this month imposed a one-year drilling permit ban (see Shale Daily, June 7).

If West Virginia and the broader region encompassing the Marcellus and Utica shales take advantage of value-added opportunities associated with natural gas — in the manufacturing, transportation and electricity generation sectors — a greater share of the economic benefits of the shale boom will be retained by the region, according to a report issued by Vision Shared, a the Huntington, WV-based nonprofit organization. But significant investment is needed upfront to make that happen.

Natural gas groups Wednesday said they were hopeful the Obama administration will provide a more cohesive energy policy during the president’s second term, at the same time urging various industry segments to speak to lawmakers and the public with one voice on hydraulic fracturing (fracking).

The extent of the risks associated with development of shale oil and natural gas is “unknown” because existing studies have not taken into account the potential long-term, cumulative effects of the activity, according to a new report issued by the Government Accountability Office (GAO) Tuesday. The agency in a companion report did not make any recommendations to change environmental and public health requirements in light of advances in horizontal drilling and hydraulic fracturing (fracking).