The Source - Fall 2008 - (Page 23)

commercial markets to fulfill certain self-regulatory requirements with respect to such contracts, including the requirement that they list for trading only contracts that are not readily susceptible to manipulation, monitor trading to prevent manipulation, have the legal authority and ability to obtain information from traders, apply position limits, and enforce trading rules. In layman’s terms, this means that the CFTC will see a more complete picture of what is occurring in the natural gas marketplace. The CFTC will have tools to catch a scheme while it is unfolding and to determine whether a trader, such as Amaranth, is using the OTC natural gas markets to corner deliverable supplies and manipulate the price in the futures market. This enhanced transparency also will enable the CFTC to better detect and deter other types of market abuses, including, for example, a company making misleading statements to the public or providing false price reporting information designed to give advantage to its natural gas trading positions. While increasing supply is a fundamental component of the solution to obtaining long-term affordable natural gas, it’s equally critical that consumers are protected from market abuses that would artificially increase the price of natural gas. Experience tells us that there is never a shortage of individuals or interests who believe they can, and will attempt to, affect the market or manipulate price movements to favor their market position. The passage of this legislation will help detect and deter those abuses from occurring before they impact consumers. APGA played a critical role in the passage of this consumer protection legislation. Working together, we can continue to achieve great things on behalf of consumers. Arthur Corbin is president & CEO of the Municipal Gas Authority of Georgia. Laura Campbell is the assistant manager of energy resources for Memphis Light Gas & Water and serves as APGA’s representative on the CFTC Energy Markets Advisory Committee. 384840_Abloy.indd 1 THE SOURCE | FALL 2008 , VOL. 1, ISSUE 1 23 6/9/08 2:52:14 PM 379241_ASI.indd 1 4/25/08 9:14:30 AM http://www.assocsys.com http://www.abloyusa.com

Table of Contents Feed for the Digital Edition of The Source - Fall 2008

The Source - Fall 2008 Contents First Person APGA Awards APGA Events Overview Up Next in THE SOURCE Grassroots Connections Climate Change Legislation Market Transparency: An Insider's View Legislative Outlook The Pipeline Marketing Matters Advertisers' Index At Last

The Source - Fall 2008

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