DALLAS - Oct 2, 2013 - The Energy Professionals Association (TEPA), a non-profit organization 501 (c)(6) committed to upholding the integrity of the deregulated retail energy market, has announced that it will host its annual conference on November 13-14, 2013, at the Hotel ZaZa - Dallas.  More than 300 of the nation's top brokers, providers, executives, thought-leaders and policymakers will attend the conference to discuss opportunities and challenges facing the energy procurement industry.

"Our annual conference plays an important role in the health of the retail energy market," said Michael Harris, president of TEPA. "Energy procurement is continually evolving based on a host of market variables.  Our TEPA conference creates a critical common ground for energy providers and brokers to meet and identify the challenges and opportunities that will make working with REPs easier for consumers.   Part of the conference will include the presentation of important research related to the availability, reliability, sustainability and profitability of the market."

The 2013 conference will feature presentations by recognized experts from the Texas legislature, private energy sector, leading brokers and representatives from the retail energy sector.  This year's conference will also introduce a new breakout session, "Energy 101" for new brokers.  This breakout session will help new brokers understand how the energy market functions, as well as the importance of following ethical standards when representing buyers and providers during an energy procurement deal.

"This year TEPA has taken its first steps to become a national organization," said Harris.  "In August, we met with brokers and providers in the Northeast to introduce them to TEPA.  As a result, we've created our first national chapter outside of Texas.  The new Northeast TEPA Board will be announced during our annual conference."

The 2012 conference will feature exciting social events in addition to hosting some of the industry's most dynamic speakers. Registration is $300-$350 per person; group rates may apply. Those interested in attending can register online by clicking the link. More information about the 2013 annual TEPA Conference can be found at www.tepaUSA.org.

The Energy Professionals Association (TEPA) is a 501 (c)(6) organization that establishes a standardized code of conduct, serves as an educational resource and advocates legislative initiatives for the Texas deregulated energy market. TEPA members include Aggregators, Brokers, and Consultants (ABCs), Retail Electricity Providers (REPs) and affiliate members. TEPA members exhibit expertise, ethical practices and a high level of professionalism to help consumers buy electricity in the restructured Texas marketplace. For more information contact Aaron Cook at ACook@TPRM.com,

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Wednesday, September 25, 2013

Grassley Presses EPA to Increase Transparency and Address Reports that RIN Market is Being Exploited by Wall Street

WASHINGTON - Senator Chuck Grassley of Iowa is pressing the Environmental Protection Agency (EPA) to increase the transparency of the Renewable Identification Number (RIN) market and provide assurances that the market is functioning for its intended purpose, rather than acting as a profit mechanism for Wall Street banks and other financial institutions.

In a letter to EPA Administrator Gina McCarthy, Grassley wrote, "I'm concerned about recent reports of manipulation or exploitation of the RIN market by non-obligated parties, including financial institutions.  Allegations that the opaqueness of this market is leading to abuse and exploitation by individuals or firms simply to generate profits at the expense of refiners, other obligated parties, and perhaps consumers is troubling."

A copy of the text of Grassley's letter to McCarthy is below.  A signed copy can be found here.

September 25, 2013

The Honorable Gina McCarthy

Administrator

U.S. Environmental Protection Agency

1200 Pennsylvania Avenue NW

Washington, DC 20460

Dear Administrator McCarthy:

I've been a strong supporter of domestically produced biofuels for many years.  The production of homegrown biofuels allows American consumers to use a product that is renewable, cleaner and domestically produced.  The Renewable Fuel Standard has been a great success in achieving higher use of biofuels in our transportation fuel supply.

The Renewable Fuel Standard includes a RIN credit trading system. The RIN credit market was created as part of the Renewable Fuel Standard to provide flexibility and aid obligated parties in complying with their annual renewable volume obligations (RVO's).

I'm concerned about recent reports of manipulation or exploitation of the RIN market by non-obligated parties, including financial institutions.  Allegations that the opaqueness of this market is leading to abuse and exploitation by individuals or firms simply to generate profits at the expense of refiners, other obligated parties, and perhaps consumers is troubling.  The EPA needs to provide assurances that this market is functioning for its intended purpose, rather than acting as a profit mechanism for Wall Street banks and other financial institutions.  For that reason, I'd like the EPA to respond to the following questions.

1.      Other trading markets are regulated to protect market participants against fraud, manipulation and abusive trading practices.  What safeguards does EPA have in place to protect against RIN market manipulation and abuses by non-obligated third parties who are not directly involved in the renewable fuel supply chain?

2.      Please describe the oversight network EPA has in place to ensure that the RIN credit market is not manipulated by obligated parties or non-obligated parties.

3.      Is EPA working to modify the RIN credit market to eliminate manipulation and abusive trading practices like hoarding?  Has EPA considered implementing the type of volatility controls that are present in other markets, such as limits on daily price movements, position limits, etc.?

4.       Is there a way for the general public and all parties who generate, own or trade RINs to discover the market price for RINS through the EPA's EMTS system?  How do the prices reported by third-party industry publications compare to prices reported to the EMTS system?

5.      Why doesn't EPA publicly disclose information that would enhance the transparency of the RIN market?  Has EPA considered providing aggregated data to the public regarding RIN transaction prices, volumes traded, and volumes held by the various segments of the marketplace (i.e., obligated refiners, obligated importers, non-obligated blenders/marketers, and non-obligated third parties with no tie to the supply chain)?

6.      Is it possible for consumers or obligated parties to determine the amount of separated RINs in the market at a given time?  Is it possible at any given time to determine from publicly available data who holds those separated RINs?

7.      To what degree are non-obligated parties with no direct involvement in the fuel supply chain (e.g., financial institutions, speculative investors, etc.) participating in the RIN market?  What percentage of separated RINs are being held by non-obligated parties with no tie to the fuel supply chain?  What percentage are being held by non-obligated blenders, marketers and retailers?

8.      Is the current opaque RIN credit market the best way to achieve a fair, orderly and efficient market that protects market participants and is free of manipulation?

9.      Has EPA considered installing external oversight over the RIN credit market?

It's troubling that there appears to be no way to determine who is trading the credits, at what price, and at what volumes.  It's even more alarming that it's impossible to know the extent of the involvement of financial or other speculators.  It's imperative, to maintain confidence that the pricing of RINs is based on market forces and not manipulation or excessive speculation, that EPA increase the transparency of the market.  By answering these questions, EPA may be able to provide the necessary transparency.

Thank you for your consideration and I look forward to your prompt reply.

Sincerely,

Charles E. Grassley

United States Senator

(DES MOINES) - The Connect Every Iowan initiative is drawing wide praise following this morning's announcement by Gov. Terry Branstad and Lt. Gov. Kim Reynolds. The following are statements put forth by organizations representing thousands of Iowans across the state:

Iowa Telecommunications Association:

Dave Duncan, President of the Iowa Telecommunications Association (ITA), said "Governor Branstad's announcement today rings so close to the guiding principles our association has promoted over the past four years - that we need 'broadband for all Iowans.'

"Broadband connectivity is an essential service when you are looking to advance Iowa's economic growth opportunities," Duncan said.  "Whether you are a small business looking to connect to customers around the world, a farmer checking global markets, or a student doing homework, you cannot afford to be without high-speed broadband internet access."

Rural Iowa Independent Telephone Association:

The Rural Iowa Independent Telephone Association (RIITA) announced its support for Governor Terry Brandstad's initiative today, "Connect Every Iowan" and efforts to increase the access, adoption and use of broadband technology.

"Iowa has a unique position in that our state has the most Independent Telecommunication Companies (ITCs) in the country. Over 140 companies have been instrumental in deploying broadband and working with their communities relating to the adoption and use of this technology," noted Sheila Navis, RIITA Executive Director.

CenturyLink:

"CenturyLink appreciates the efforts of Governor Branstad to further strengthen Iowa's broadband climate, which will ultimately grow Iowa's economy and enhance educational opportunities. We look forward to working with all stakeholders and policymakers to increase broadband adoption and access."

Technology Association of Iowa:

"Access to larger bandwidth is essential to connect Iowans to each other and for businesses to connect to Iowa customers. TAI will engage in the process that Governor Branstad has established and will work with the legislature to put in place policies that make sense for Iowans."

Heartland Technology Alliance:

The following statement is attributable to Heartland Technology Alliance Executive Director John Stineman:

"The Heartland Technology Alliance is excited to learn of Governor Branstad's 'Connect Every Iowan' initiative.  Broadband connectivity, adoption and deployment can be a game changer for the Midwest.  Whether Iowa's metros or rural areas, broadband helps us compete with the world.  We are hopeful the STEM Advisory Council's Broadband Committee examines not only the issues of adoption and connectivity, but the regulatory environment Iowa ought to pursue in order to attract private sector investment in broadband deployment in all forms across the State.  The Heartland Technology Alliance looks forward to being an active participant in these important discussions and appreciates Governor Branstad and Lt. Governor Reynolds' leadership in this critical area."

(DES MOINES) - The governor's office today released a list of appointments to the Governor's STEM Advisory Council.  All appointments will take effect September 1, 2013.

Kacia Cain, Indianola

John Carver, Cresco

Jordan Cohen, Iowa City

Robert Denson, Ankeny

Ryan Drew, Burlington

Mary Beth Hockstedler, Iowa City

AnnElyse Howard, Clive

Jordan Lampe, Sausalito, Calif.

Valerie Newhouse, Emmetsburg

Robert "Kelly" Ortberg, Cedar Rapids

Mark Putnam, Pella

Macenzie Rubin, Ankeny

Johnathan Wickert, Ames

Gail Wortmann, Bloomfield

Isa Zimmerman, Boston, Mass.