15 U.S. Code § 717t–2 - Natural gas market transparency rules

(a) In general
(1) The Commission is directed to facilitate price transparency in markets for the sale or transportation of physical natural gas in interstate commerce, having due regard for the public interest, the integrity of those markets, fair competition, and the protection of consumers.
(2) The Commission may prescribe such rules as the Commission determines necessary and appropriate to carry out the purposes of this section. The rules shall provide for the dissemination, on a timely basis, of information about the availability and prices of natural gas sold at wholesale and in interstate commerce to the Commission, State commissions, buyers and sellers of wholesale natural gas, and the public.
(3) The Commission may—
(A) obtain the information described in paragraph (2) from any market participant; and
(B) rely on entities other than the Commission to receive and make public the information, subject to the disclosure rules in subsection (b) of this section.
(4) In carrying out this section, the Commission shall consider the degree of price transparency provided by existing price publishers and providers of trade processing services, and shall rely on such publishers and services to the maximum extent possible. The Commission may establish an electronic information system if it determines that existing price publications are not adequately providing price discovery or market transparency.
(b) Information exempted from disclosure
(1) Rules described in subsection (a)(2) of this section, if adopted, shall exempt from disclosure information the Commission determines would, if disclosed, be detrimental to the operation of an effective market or jeopardize system security.
(2) In determining the information to be made available under this section and the time to make the information available, the Commission shall seek to ensure that consumers and competitive markets are protected from the adverse effects of potential collusion or other anticompetitive behaviors that can be facilitated by untimely public disclosure of transaction-specific information.
(c) Information sharing
(1) Within 180 days of August 8, 2005, the Commission shall conclude a memorandum of understanding with the Commodity Futures Trading Commission relating to information sharing, which shall include, among other things, provisions ensuring that information requests to markets within the respective jurisdiction of each agency are properly coordinated to minimize duplicative information requests, and provisions regarding the treatment of proprietary trading information.
(2) Nothing in this section may be construed to limit or affect the exclusive jurisdiction of the Commodity Futures Trading Commission under the Commodity Exchange Act (7 U.S.C. 1 et seq.).
(d) Compliance with requirements
(1) The Commission shall not condition access to interstate pipeline transportation on the reporting requirements of this section.
(2) The Commission shall not require natural gas producers, processors, or users who have a de minimis market presence to comply with the reporting requirements of this section.
(e) Retroactive effect
(1) Except as provided in paragraph (2), no person shall be subject to any civil penalty under this section with respect to any violation occurring more than 3 years before the date on which the person is provided notice of the proposed penalty under section 717t–1 (b) of this title.
(2) Paragraph (1) shall not apply in any case in which the Commission finds that a seller that has entered into a contract for the transportation or sale of natural gas subject to the jurisdiction of the Commission has engaged in fraudulent market manipulation activities materially affecting the contract in violation of section 717c–1 of this title.

Source

(June 21, 1938, ch. 556, § 23, as added Pub. L. 109–58, title III, § 316,Aug. 8, 2005, 119 Stat. 691.)
References in Text

The Commodity Exchange Act, referred to in subsec. (c)(2), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, as amended, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.
Prior Provisions

A prior section 23 of act June 21, 1938, was renumbered section 25 and is classified to section 717v of this title.

The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013

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15 USCDescription of ChangeSession YearPublic LawStatutes at Large

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


18 CFR - Conservation of Power and Water Resources

18 CFR Part 1b - RULES RELATING TO INVESTIGATIONS

18 CFR Part 1c - PROHIBITION OF ENERGY MARKET MANIPULATION

18 CFR Part 2 - GENERAL POLICY AND INTERPRETATIONS

18 CFR Part 3 - [Reserved]

18 CFR Part 141 - STATEMENTS AND REPORTS (SCHEDULES)

18 CFR Part 152 - APPLICATION FOR EXEMPTION FROM THE PROVISIONS OF THE NATURAL GAS ACT PURSUANT TO SECTION 1(C) THEREOF AND ISSUANCE OF BLANKET CERTIFICATES AUTHORIZING CERTAIN SALES FOR RESALE

18 CFR Part 154 - RATE SCHEDULES AND TARIFFS

18 CFR Part 157 - APPLICATIONS FOR CERTIFICATES OF PUBLIC CONVENIENCE AND NECESSITY AND FOR ORDERS PERMITTING AND APPROVING ABANDONMENT UNDER SECTION 7 OF THE NATURAL GAS ACT

18 CFR Part 161

18 CFR Part 201 - UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED FOR NATURAL GAS COMPANIES SUBJECT TO THE PROVISIONS OF THE NATURAL GAS ACT

18 CFR Part 225 - PRESERVATION OF RECORDS OF NATURAL GAS COMPANIES

18 CFR Part 250 - FORMS

18 CFR Part 260 - STATEMENTS AND REPORTS (SCHEDULES)

18 CFR Part 270 - DETERMINATION PROCEDURES

18 CFR Part 271

18 CFR Part 273

18 CFR Part 274

18 CFR Part 275

18 CFR Part 281 - NATURAL GAS CURTAILMENT UNDER THE NATURAL GAS POLICY ACT OF 1978

18 CFR Part 284 - CERTAIN SALES AND TRANSPORTATION OF NATURAL GAS UNDER THE NATURAL GAS POLICY ACT OF 1978 AND RELATED AUTHORITIES

18 CFR Part 286 - ACCOUNTS, RECORDS, MEMORANDA AND DISPOSITION OF CONTESTED AUDIT FINDINGS AND PROPOSED REMEDIES

18 CFR Part 340 - RATE SCHEDULES AND TARIFFS

18 CFR Part 358 - STANDARDS OF CONDUCT

18 CFR Part 375 - THE COMMISSION

18 CFR Part 381 - FEES

18 CFR Part 382 - ANNUAL CHARGES

18 CFR Part 385 - RULES OF PRACTICE AND PROCEDURE

18 CFR Part 390 - ELECTRONIC REGISTRATION

 

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