• FERC Rescinds Market Behavior Rules 2 and 6, Retains and Codifies Other Rules, and Proposes Expanded Record Retention Requirements
  • February 27, 2006
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • In orders issued February 16, 2006, the Federal Energy Regulatory Commission (FERC) rescinded, effective upon publication in the Federal Register, its Market Behavior Rule 2, which prohibits market manipulation in the electricity markets. Instead, manipulative conduct will be governed by FERC's new anti-fraud rules, which were adopted in January 2006 pursuant to authority granted to FERC by the Energy Policy Act of 2005 (EPAct 2005). FERC took similar action concerning the analogous rules for trading in the natural gas markets.