Joseph T. Kelliher, Former Chairman, Federal Energy Regulatory Commission

February 6, 2009
School of Management Auditorium
595 Commonwealth Ave, Boston, MA

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Joseph T. Kelliher, Former Chairman, Federal Energy Regulatory Commission (FERC)

“The Link between Energy and Financial Markets”

This event, serving as the Inaugural Boston University Presidential Lecture on Energy and Environmental Sustainability, features speaker Joseph T. Kelliher, Former Chairman of the Federal Energy Regulatory Commission.

Kelliher, who served as FERC Chairman from 2005 until 2009, discusses:

• The similarity between energy products—for instance, electricity and natural gas—and commodities
• The advent of financial energy products—day-ahead commitments in organized energy markets, Financial Transmission Rights (FTR), Virtual electricity load and generation bids—and the benefits of these products
• The increasing importance of financial energy products in energy markets
• The relationship between financial energy products and physical energy products
• Regulatory challenges—such as the prospect of speculators,  the complexity of evaluating market participant behavior, and a lack of transparency—relating to the rise of financial energy products
• Strategies for bridging the information gap between the FERC and Commodity Futures Trading Commission (CFTC), such as a subscription service for consummated transaction data, a Memorandum of Understanding between the two organizations, an Enforcement Hotline, and ISO/RTO market monitors
• The implications for the energy market of the current financial crisis
  A question and answer session follows his remarks.