NRECA Statement on CFTC Derivative Rules Related to Dodd-Frank

Arlington, VA, March 29, 2013 — America’s electric cooperatives are relieved to learn that the Commodity Futures Trading Commission (CFTC) has voted unanimously to exempt electric cooperatives and other like entities from unnecessary and onerous regulation under the Dodd-Frank Wall Street Reform and Consumer Protection Act. In the release announcing the decision the Commission recognizes that, “the entities eligible for the relief are charged with a unique public service mission of providing their customers with reliable, affordable electric energy service.”

Jo Ann Emerson, CEO of the National Rural Electric Cooperative Association, hailed the vote as a victory for common sense regulation and recognition of the important role electric cooperatives play in ensuring safe, reliable and affordable electric service. “In the end,” she said, “the commission has clarified its vision for transactions between electric co-ops and like entities that are in the public interest and comply with the intent of Congress. We thank each member of the Commission and the staff at the CFTC for all the time they took to review this matter and look forward to helping make their vision a reality.”