The US Federal Energy Regulatory Commission (Ferc) has become a powerful regulator in the natural gas and power markets thanks to the Energy Policy Act of 2005, which granted the commission greater authority to hunt out instances of market manipulation. Since then, the regulator has come under criticism, with market participants saying its anti-manipulation standards are “too vague”, “impossible to follow” or “just pushing the envelope”.
But Sean Collins, director of Ferc’s Division of
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