Washington—Senator Dianne Feinstein (D-Calif.) today released the following statement on the data-sharing agreement between the Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC) that will permit more rigorous oversight of U.S. energy markets.
“I commend FERC and CFTC on finally initiating data sharing. Candidly, it is overdue. An agreement to share information was required by the Dodd-Frank Act in 2010, and it is something I have worked to expedite for nearly a year.
“This agreement will give FERC’s investigators and analysts access to CFTC’s data on trading positions in energy markets that are essential to preventing manipulation in natural gas and electricity markets.
“FERC investigators have caught multiple entities manipulating California’s markets in recent years—even without access to this critical data. I am hopeful the trading data provided under this agreement will allow FERC to prevent the complex and sophisticated schemes that robbed consumers and disrupted economic activity during the Western energy crisis.”