FOR IMMEDIATE RELEASE
CONTACT: Michael Catanzaro
March 21, 2014
Washington, DC — Today, the U.S. Commodity Futures Trading Commission (CFTC) issued a “no-action” letter to provide relief from the $25 million de minimis threshold for “utility operations-related swaps” only. The Large Public Power Council (LPPC) issued the following statement in reaction to the news:
“LPPC applauds the CFTC for recognizing that this as an important issue that needs to be addressed. Not-for-profit public power systems deliver affordable and reliable electricity to more than 45 million people throughout the country. While LPPC looks forward to reviewing the action, relief from the threshold would ensure that public utilities are able to maintain the steady, affordable power prices that many Americans rely on.”
LPPC represents 26 of the largest locally owned and operated not-for-profit electric systems in the United States. Our member utilities are located in 12 states and Puerto Rico and own and operate more than 86,000 megawatts of generation capacity and more than 35,000 circuit miles of high voltage transmission lines. LPPC member utilities supply electricity to some of the largest cities in the country including Los Angeles, Seattle, Omaha, Phoenix, Sacramento, Jacksonville, San Antonio, Orlando and Austin.