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We use over-the-counter(OTC) derivatives extensively to manage commodity price risk for electricity, natural gas, and other fuels, as well as to contain risk-related costs when financing energy infrastructure. OTC contracts help insulate our customers from excessive price volatility…. [We] support the goals of the Administration and Congress to increase regulation as well as improve transparency and stability in OTC derivatives markets. When discussing any increased regulation of exchange and OTC markets, we believe there should be an appropriate balance between establishing market oversight rules that allow for a broad use of market-based risk management tools while providing regulators with the ability to establish a high level of transparency and the tools needed to protect consumers against market manipulation and systemic risk.
We use over-the-counter(OTC) derivatives extensively to manage commodity price risk for electricity, natural gas, and other fuels, as well as to contain risk-related costs when financing energy infrastructure. OTC contracts help insulate our customers from excessive price volatility….
[We] support the goals of the Administration and Congress to increase regulation as well as improve transparency and stability in OTC derivatives markets. When discussing any increased regulation of exchange and OTC markets, we believe there should be an appropriate balance between establishing market oversight rules that allow for a broad use of market-based risk management tools while providing regulators with the ability to establish a high level of transparency and the tools needed to protect consumers against market manipulation and systemic risk.