Counterparties abandon US public utilities over Dodd-Frank fears

electricity-pylons

Publicly owned utilities in the US say energy companies are refusing to enter into hedges with them and have signalled that they may sever longstanding trading relationships, due to a quirk in the way regulators have interpreted the Dodd-Frank Act.

In an apparent case of a well-meaning regulation having unintended consequences, the public utilities say a provision of the Dodd-Frank swap dealer rule has made it extremely onerous for other market participants to transact with them. As a result

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