[Federal Register Volume 60, Number 169 (Thursday, August 31, 1995)]
[Notices]
[Pages 45401-45402]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-21620]



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[[Page 45402]]


COMMODITY FUTURES TRADING COMMISSION


New York Mercantile Exchange Proposed Electricity Futures 
Contracts for Delivery at the California Oregon Border and Palo Verde, 
Arizona

AGENCY: Commodity Futures Trading Commission.

ACTION: Notice of availability of the terms and conditions of proposed 
commodity futures contracts.

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SUMMARY: The New York Mercantile Exchange (NYMEX or Exchange) has 
applied for designation as a contract market in California Oregon 
Border electricity futures contracts and Palo Verde electricity futures 
contracts. The Acting Director of the Division of Economic Analysis 
(Division) of the Commission, acting pursuant to the authority 
delegated by Commission Regulation 140.96, has determined that 
publication of the proposals for comment is in the public interest, 
will assist the Commission in considering the views of interested 
persons, and is consistent with the purposes of the Commodity Exchange 
Act.

DATES: Comments must be received on or before October 2, 1995.

ADDRESSES: Interested persons should submit their views and comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, 2033 K 
Street NW, Washington, DC 20581. Reference should be made to the NYMEX 
California Oregon Border and Palo Verde electricity futures contracts.

FOR FURTHER INFORMATION CONTACT: Joseph B. Storer of the Division of 
Economic Analysis, Commodity Futures Trading Commission, 2033 K Street 
NW, Washington, DC 20581, telephone 202-254-7303.

SUPPLEMENTARY INFORMATION: The Commission is requesting comment on the 
NYMEX's proposed terms and conditions for each of the two proposed 
electricity futures contracts. Commenters should address whether the 
proposed terms and conditions are in conformance with customary cash 
market practices at the proposed delivery points and would provide 
adequate deliverable supplies.
    The Commission is aware that the electricity industry is evolving 
in new directions and that proposed regulatory changes may result in 
some restructuring of the electricity industry. In view of this and to 
assist the Commission in its review of the proposed electricity futures 
contracts, the Commission is particularly interested in receiving 
comments concerning the current status and expected development of the 
U.S. electricity cash market in general, as well as specific 
information about the nature of the cash markets at the two proposed 
delivery points in particular. In addition, commenters are asked to 
address whether the proposed futures contracts would have any effect on 
the evolving cash markets for electricity and discuss what, if any, 
benefits the proposed contracts would provide to prospective commercial 
users.
    Copies of the terms and conditions will be available for inspection 
at the Office of the Secretariat, Commodity Futures Trading Commission, 
2033 K street, N.W., Washington, D.C. 20581. Copies of the terms and 
conditions can be obtained through the Office of the Secretariat by 
mail at the above address or by phone at (202) 254-6314.
    Other materials submitted by the NYMEX in support of the 
applications for contract market designation may be available upon 
request pursuant to the Freedom of Information Act (5 U.S.C. 552) and 
the Commission's regulations thereunder (17 C.F.R. Part 145 (1987)), 
except to the extent they are entitled to confidential treatment as set 
forth in 17 C.F.R. 145.5 and 145.9. Requests for copies of such 
materials should be made to the FOI, Privacy and Sunshine Act 
Compliance Staff of the Office of the Secretariat at the Commission's 
headquarters in accordance with 17 C.F.R. 145.7 and 145.8.
    Any person interested in submitting written data, views, or 
arguments on the proposed terms and conditions, or with respect to 
other materials submitted by the NYMEX, should send such comments to 
Jean A. Webb, Secretary, Commodity Futures Trading Commission, 2033 K 
Street, NW, Washington, DC 20581 by the specified date.

    Issued in Washington, DC, on August 25, 1995.
John Mielke,
Acting Director.
[FR Doc. 95-21620 Filed 8-30-95; 8:45 am]
BILLING CODE 6351-01-P