Counterparties abandon US public utilities over Dodd-Frank fears
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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