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AGA

 4/26/2010 

AGA Contacts:
Jennifer O’Shea, 202-824-7023
Jake Rubin, 202-824-7027

 AGA supports CFTC position limits on futures contracts   

 
   

AGA recommended that the CFTC provide for separate exemptions for affiliates or divisions that trade separately and are sufficiently independent of one another

Washington, DC – The American Gas Association (AGA) today filed comments with the Commodity Futures Trading Commission (CFTC) supporting the CFTC’s proposal to establish speculative position limits for certain energy commodity futures contracts.  AGA urged the CFTC to ensure that the financial markets related to energy commodities function efficiently for the benefit of the American energy consumer.  AGA also urged the CFTC to protect the ability of commercial hedgers to engage in risk management transactions.

In particular, AGA recommended that the CFTC provide for separate exemptions for affiliates or divisions that trade separately and are sufficiently independent of one another.  AGA also recommended that the CFTC conduct a study after the rules have been in place for one year to determine whether the financial markets continue to function efficiently and whether there are adverse unintended consequences associated with the rules.

Click here to read AGA’s full comments.

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The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 71 million residential, commercial and industrial natural gas customers in the U.S., of which 94 percent — over 68 million customers — receive their gas from AGA members. Today, natural gas meets almost one-fourth of the United States' energy needs.

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