61930 Federal Register / Vol. 70, No. 207 / Thursday, October 27, 2005 / Proposed Rules 

1Energy Policy Act of 2005, Pub. L. 109–58, 119 

Stat. 594 (2005). 

2 15 U.S.C. 717 et al. (2004). 

3 16 U.S.C. 791a et al. (2004). 

4Securities and Exchange Act of 1934, 15 U.S.C. 

78j(b) (2005) (Exchange Act). 

5 17 CFR 240.10b–5 (2005). 

6This reliance on the use of SEC precedent is 

consistent with Congress’ expressed intent in 

sections 315 and 1283 that any ‘‘manipulative or 

deceptive device or contrivance’’ is prohibited ‘‘as 

those terms are used in section 10(b) of the 

Securities and Exchange Act of 1934’’ and Congress’

modeling sections 315 and 1283 of EPAct 2005 after 

section 10(b) of the Exchange Act. 

Inspections Accomplished According to 

Previous Issue of Service Bulletins 

(k) Inspections accomplished before the 

effective date of this AD according to Airbus 

All Operator Telexes A330–57–3085 and 

A340–57–4093, both dated December 15, 

2004; are considered acceptable for 

compliance with the corresponding 

inspections specified in this AD. 

Repair 

(l) Except as required by paragraph (m) of 

this AD: If any cracking is found during any 

inspection required by this AD: Repair before 

further flight and get a schedule for 

subsequent inspections, according to a 

method approved by either the Manager, 

International Branch, ANM–116, Transport 

Airplane Directorate; or the Direction 

Ge ́ne ́rale de l’Aviation (DGAC) (or its 

delegated agent). 

Hard or Overweight Landing 

(m) For Model A330 series airplanes with 

8,000 or more total flight cycles or 25,000 or 

more total flight hours, and Model A340 

series airplanes with 8,000 or more total 

flight cycles or 30,200 or more total flight 

hours that have not been modified in 

accordance with paragraph (j) of this AD: 

Before further flight after any hard or 

overweight landing of the airplane, 

accomplish the applicable follow-on 

inspections and any applicable corrective 

actions according to a method approved by 

either the Manager, International Branch, 

ANM–116; or the DGAC (or its delegated 

agent). Accomplishing the inspections in 

Airbus A330/A340 Airplane Maintenance 

Manual, Chapter 05–51–11, dated April 1, 

2005, titled ‘‘Inspection After Hard/ 

Overweight Landing—Inspection/Check,’’ or 

Airbus Technical Disposition (TD) TD/J1/S3/ 

00608/2005, dated April 26, 2005, titled 

‘‘Inspections following hard landing, both 

wings,’’ is considered one approved method. 

(Operators can obtain the TD from Airbus.) 

Reporting Requirement 

(n) If any crack is found during any 

inspection required by this AD: Submit a 

report of the findings to Airbus Repair 

Engineering, Dept SER–1, 1 Rond Point 

Maurice Bellonte, 31707 Blagnac Cedex, 

France. Submit the report at the applicable 

time specified in paragraph (n)(1) or (n)(2) of 

this AD. The report must include the 

inspection results, a description of any 

discrepancies found, the airplane serial 

number, and the number of landings and 

flight hours on the airplane. Under the 

provisions of the Paperwork Reduction Act of 

1980 (44 U.S.C. 3501 et seq.), the Office of 

Management and Budget (OMB) has 

approved the information collection 

requirements contained in this AD and has 

assigned OMB Control Number 2120–0056. 

(1) If the inspection was done after the 

effective date of this AD: Submit the report 

within 30 days after the inspection. 

(2) If the inspection was done before the 

effective date of this AD: Submit the report 

within 30 days after the effective date of this 

AD. 

Alternative Methods of Compliance 

(AMOCs) 

(o)(1) The Manager, International Branch, 

ANM–116, has the authority to approve 

AMOCs for this AD, if requested in 

accordance with the procedures found in 14 

CFR 39.19. 

(2) Before using any AMOC approved in 

accordance with 14 CFR 39.19 on any 

airplane to which the AMOC applies, notify 

the appropriate principal inspector in the 

FAA Flight Standards Certificate Holding 

District Office. 

Related Information 

(p) French airworthiness directives F–

2005–071 and F–2005–072, both dated April 

27, 2005, also address the subject of this AD. 

Issued in Renton, Washington, on October 

20, 2005. 

Kalene C. Yanamura, 

Acting Manager, Transport Airplane 

Directorate, Aircraft Certification Service. 

[FR Doc. 05–21429 Filed 10–26–05; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF ENERGY 

Federal Energy Regulatory 

Commission 

18 CFR Parts 47 and 159 

[Docket No. RM06–3–000] 

Prohibition of Energy Market 

Manipulation 

Issued October 20, 2005. 

AGENCY: Federal Energy Regulatory 

Commission, DOE. 

ACTION: Notice of proposed rulemaking. 

SUMMARY: Pursuant to Title III, Subtitle 

B, and Title XII, Subtitle G of the Energy 

Policy Act of 2005, the Federal Energy 

Regulatory Commission (Commission) is 

proposing rules to implement new 

section 222 of the Federal Power Act 

and new section 4A of the Natural Gas 

Act, prohibiting the employment of 

manipulative or deceptive devices or 

contrivances. The Commission seeks 

public comment on the regulations 

proposed herein. 

DATES: Comments are due November 17, 

2005. Reply comments are due 

November 25, 2005. 

ADDRESSES: Comments may be filed 

electronically via the eFiling link on the 

Commission’s Web site at http:// 

www.ferc.gov. Commenters unable to 

file comments electronically must send 

an original and 14 copies of their 

comments to: Federal Energy Regulatory 

Commission, Office of the Secretary, 

888 First Street NE., Washington, DC 

20426. Refer to the Comment 

Procedures section of the preamble for 

additional information on how to file 

comments. 

FOR FURTHER INFORMATION CONTACT: 

Frank Karabetsos, Office of General 

Counsel, Federal Energy Regulatory, 

Commission, 888 First Street, NE., 

Washington, DC 20426, (202) 502–8133, 

Frank.Karabetsos@ferc.gov. 

Mark Higgins, Office of Market 

Oversight and Investigations, Federal 

Energy Regulatory Commission, 888 

First Street, NE., Washington, DC 20426, 

(202) 502–8273, Mark.Higgins@ferc.gov. 

SUPPLEMENTARY INFORMATION: 

Introduction 

1. On August 8, 2005, the Energy 

Policy Act of 2005 (EPAct 2005) 1 was 

signed into law. Sections 315 and 1283 

of EPAct 2005, amending the Natural 

Gas Act 2 and the Federal Power Act,3

respectively, are virtually identical, and 

prohibit the use or employment of 

manipulative or deceptive devices or 

contrivances in connection with the 

purchase or sale of natural gas, electric 

energy, or transportation or 

transmission services subject to the 

jurisdiction of the Commission. These 

anti-manipulation sections of EPAct 

2005 closely track the prohibited 

conduct language in section 10(b) of the 

Securities Exchange Act of 1934,4 and 

specifically dictate that the terms 

‘‘manipulative or deceptive device or 

contrivance’’ are to be used ‘‘as those 

terms are used in section 10(b).’’

2. The Securities and Exchange 

Commission (SEC) has adopted Rule 

10b–5,5 which implemented section 

10(b) of the Exchange Act, and has 

developed a significant body of legal 

precedent related to both section 10(b) 

of the Exchange Act and Rule 10b–5. 

Consistent with the mandate that the 

Commission’s new authority be 

exercised in a manner consistent with 

section 10(b) of the Exchange Act, the 

Commission has modeled its proposed 

regulations on Rule 10b–5.6 This 

approach should provide benefits to 

entities subject to the new rule because 

there is a substantial body of precedent 

Federal Register / Vol. 70, No. 207 / Thursday, October 27, 2005 / Proposed Rules 61931 

7 Investigation of Terms and Conditions of Public 

Utility Market-Based Rate Authorizations, ‘‘Order 

Amending Market-Based Rate Tariffs and 

Authorizations,’’ 105 FERC ¶ 61,218 (2003), reh’g 

denied, 107 FERC ¶ 61,175 (2004); Order No. 644, 

Amendment to Blanket Sales Certificates, FERC 

Stats. & Regs. ¶ 31,153 (2003), reh’g denied, 107 

FERC ¶ 61,174 (2004). 

8See Final Report on Price Manipulation in 

Western Markets: Fact-Finding Investigation of 

Potential Manipulation of Electric and Natural Gas 

Prices, Docket No. PA02–2–000 (March 2003) (Final 

Report); see also American Elec. Power Serv. Corp., 

103 FERC ¶ 61,345 (2003), reh’g denied, 106 FERC 

¶ 61,020 (2004); Enron Power Mktg., Inc., 103 FERC 

¶ 61,346 (2003), reh’g denied, 106 FERC ¶ 61,020 

(2004). 

9Final Report, Docket No. PA02–2–000 (March 

2003); Policy Statement on Natural Gas and Electric 

Price Indices, 104 FERC ¶ 61,121 at 61,404 (2003) 

(addressing price index reporting abuses). 

10 Investigations of Terms and Conditions of 

Public Utility Market-Based Rate Authorizations, 

105 FERC ¶ 61,218 at Appendix A (2003). Sections 

284.288(a) and 284.403(a) of the Commission’s 

regulations, promulgated in Order No. 644, contain 

substantially similar language: a pipeline that 

provides unbundled natural gas service under 

section 284.284 or any person making natural gas 

sales for resale in interstate commerce pursuant to 

section 284.402 ‘‘is prohibited from engaging in 

actions or transactions that are without a legitimate 

business purpose and are intended to or foreseeably 

could manipulate market prices, market conditions, 

or market rules for natural gas.’’ The Market 

Behavior Rules are currently being appealed. See 

Cinergy Mktg. & Trading, L.P. v. FERC, Docket No. 

04–1168 et al. (D.C. Cir. 2005). 

11Order No. 644 expressly prohibits wash trades 

and collusion for natural gas sellers. 

12The Commission intends that the principles 

discussed in the Policy Statement on Enforcement 

that we are issuing today in Docket No. PL06–1–000 

will also apply to ‘‘any entity’’ as defined herein. 

13However, subsection (b) is not intended to take 

away any other right that may otherwise exist. 

14 15 U.S.C. 78j(b) (2005). 

15Rule 10b–5 of the U.S. Securities and Exchange 

Commission reads: 

It shall be unlawful for any person, directly or 

indirectly, by the use of any means or 

instrumentality of interstate commerce, or of the 

mails or of any facility of any national securities 

exchange, 

(a) To employ any device, scheme, or artifice to 

defraud, 

(b) To make any untrue statement of a material 

fact or to omit to state a material fact necessary in 

order to make the statements made, in the light of 

the circumstances under which they were made, 

not misleading, or 

(c) To engage in any act, practice, or course of 

business which operates or would operate as a 

fraud or deceit upon any person, in connection with 

the purchase or sale of any security. 

17 CFR 240.10b–5 (2005). 

16SEC v. National Sec., Inc., 393 U.S. 453, 465 

(1969). 

17Blue Chip Stamps v. Manor Drug Stores, 421 

U.S. 723, 737 (1975); see also Louis Loss & Joel 

Seligman, Securities Regulations § 9–B–3 (3d. ed. 

2004) (regarding Rule 10b–5 ‘‘[i]t is difficult to 

Continued 

applying the comparable language of 

Rule 10b–5. 

3. In this Notice of Proposed 

Rulemaking (NOPR), the Commission 

proposes to add a Part 47 under 

Subchapter B (Regulations under the 

Federal Power Act) and a Part 159 under 

Subchapter E (Regulations under the 

Natural Gas Act) to Title 18 of the Code 

of Federal Regulations, and intends to 

issue final regulations by December 31, 

2005. The Commission seeks comments 

on its proposals for the regulations 

discussed below. 

Background 

4. In November 2003, the Commission 

issued the Market Behavior Rules to fill 

a void in the regulation of market-based 

trading activity.7 The Market Behavior 

Rules emanated from the Commission’s 

investigation of trading activity in 

Western markets during 2000–2001, 

which uncovered a number of trading 

schemes intended to take advantage of 

the then-existing electricity market in 

California.8 The Commission also 

discovered abuses in reporting of 

natural gas prices to price index 

publishers for purposes of manipulating 

price indices.9

5. The Market Behavior Rules were 

adopted to establish guidelines 

applicable to the conduct of 

jurisdictional market-based rate sellers 

in wholesale power markets and to 

jurisdictional companies engaged in 

wholesale sales of natural gas under 

blanket certificate authority. 

6. An important provision of the 

Market Behavior Rules is Rule 2, which 

states that ‘‘[a]ctions or transactions that 

are without a legitimate business 

purpose and that are intended to or 

foreseeably could manipulate market 

prices, market conditions, or market 

rules for electric energy or electricity 

products are prohibited.’’ 10 In addition, 

Market Behavior Rule 2(a) expressly 

prohibits wash trades, Rule 2(b) 

prohibits transactions predicated on 

submitting false information, Rule 2(c) 

prohibits creating and relieving artificial 

congestion, and Rule 2(d) prohibits 

collusion.11

7. Sections 315 and 1283 of EPAct 

2005 enhance the Commission’s 

authority to prohibit manipulation of 

the energy markets. However, neither 

section 315 nor 1283 is a self-actuating 

provision. This rulemaking fulfills 

Congress’ intent in adopting these 

provisions. 

The Commission’s Proposed 

Regulations 

8. Pursuant to section 4A of the 

Natural Gas Act and section 222 of the 

Federal Power Act, as added to the 

statutes by EPAct 2005, the Commission 

proposes to add a Part 47 under 

Subchapter B and a Part 159 under 

Subchapter E to Title 18 of the Code of 

Federal Regulations. Under these 

proposed regulations, it shall be 

unlawful for any entity, directly or 

indirectly, in connection with the 

purchase or sale of electric energy or the 

purchase or sale of transmission 

services subject to the jurisdiction of the 

Commission, or in connection with the 

purchase or sale of natural gas or the 

purchase or sale of transportation 

services subject to the jurisdiction of the 

Commission, (1) to use or employ any 

device, scheme, or artifice to defraud, 

(2) to make any untrue statement of a 

material fact or to omit to state a 

material fact necessary in order to make 

the statements made, in the light of the 

circumstances under which they were 

made, not misleading, or (3) to engage 

in any act, practice, or course of 

business that operates or would operate 

as a fraud or deceit upon any person. 

9. Sections 315 and 1283 of EPAct 

2005 apply to ‘‘any entity.’’ Indeed, 

section 1283 expressly includes an 

‘‘entity described in section 201(f).’’

Accordingly, these proposed regulations 

apply to the conduct of ‘‘any entity,’’

not just jurisdictional market-based rate 

sellers, natural gas pipelines, or holders 

of blanket certificate authority. ‘‘[A]ny 

entity’’ includes not only regulated 

utilities but also governmental utilities 

and other market participants.12

10. As discussed in more detail 

below, subsections (a)(1)–(3) of these 

proposed regulations are patterned after 

the SEC’s Rule 10b–5, and are intended 

to be interpreted consistent with 

analogous SEC precedent that is 

appropriate under the circumstances. 

Subsection (b) of the Commission’s 

proposed regulations states that nothing 

in these provisions shall be construed to 

create a private right of action.13 This 

language is based expressly on sections 

315 and 1283 of EPAct 2005, and 

reflects Congress’ intent that entities 

will not be subject to civil actions by 

third parties based on alleged violations 

of these proposed regulations. 

Securities and Commodity Law 

Precedent 

11. The Exchange Act addresses 

regulation of the securities markets. One 

of the most important provisions of the 

Exchange Act is section 10(b), which 

prohibits the use of ‘‘any manipulative 

or deceptive device or contrivance’’ in 

contravention of SEC Rules.14 The SEC 

promulgated Rule 10b–5 to enforce 

section 10(b).15

12. Section 10(b) and Rule 10b–5 

might ‘‘well be the most litigated 

provisions in the federal securities 

laws,’’ 16 having been described by the 

Supreme Court as ‘‘a judicial oak which 

has grown from little more than a 

legislative acorn.’’ 17 The vast body of 

61932 Federal Register / Vol. 70, No. 207 / Thursday, October 27, 2005 / Proposed Rules 

think of another instance in the entire corpus juris 

in which the interaction of the legislative, 

administrative rulemaking, and judicial processes 

has produced so much from so little.’’). 

18 7 U.S.C. 6b (2005). 

19 Merrill Lynch, Pierce, Fenner & Smith v. 

Curran, 456 U.S. 353, 389 (1982). 

20Trustman v. Merrill Lynch, Pierce, Fenner & 

Smith, 1985 U.S. Dist. LEXIS 23154 at * 38; Fed. 

Sec. L. Rep. (CCH) P91,936 (C.D.C.A. 1985); see 

also, Drexel Burnham Lambert, Inc. v. Commodity 

Futures Trading Comm’n, 850 F.2d 742, 748 (D.C. 

Cir. 1988) (court held recklessness satisfied the 

scienter requirement for section 4b just as it does 

under section 10(b) and Rule 10b–5). 

21EPAct 2005, with its references to Section 10(b) 

of the Exchange Act, provides a level of substantial 

certainty with respect to how the proposed 

regulations will operate that the Commission is not 

typically able to provide where a preexisting body 

of law and precedent is not readily available. 

22For example, section 10(b) and Rule 10b–5, the 

SEC’s general anti-fraud provision (the Supreme 

Court described section 10(b) as a ‘‘general 

prohibition of practices * * * artificially affecting 

market activity in order to mislead investors’’

designed as a broad anti-fraud ‘‘catch-all clause.’’

Schreiber v. Burlington Northern, Inc., 472 U.S. 1, 

6–7 (1985); Aaron v. SEC, 446 U.S. 680, 690 (1980)), 

exists alongside other, more targeted provisions, 

including but not limited to: section 9(a)(2) 

prohibiting manipulative conduct on national 

securities exchanges (15 U.S.C. 78i (2005)); section 

14(e) prohibiting any person from making material 

misstatements or omissions and from engaging in 

fraudulent conduct in connection with any tender 

offer (15 U.S.C. 78n(e) (2005)); and section 17(a) 

prohibiting fraud in connection with the sale of 

securities (15 U.S.C. 77q(a) (2005)). Similarly, the 

CFTC’s general anti-fraud provision in section 4b 

exists alongside other CFTC anti-manipulation 

provisions, including but not limited to: section 4o 

prohibiting fraud by commodity trading advisors 

and commodity pool operators (7 U.S.C. 6m (2005)); 

Rule 30.9 prohibiting fraud in connection with 

foreign futures contracts (17 CFR 30.9 (2005)); and 

Rule 32.9 prohibiting fraud in connection with 

commodity option transactions (17 CFR 32.9 

(2005)). 

23The Commission will likewise not seek 

duplicative sanctions from natural gas sellers for 

the same conduct in the event that conduct violates 

both the Market Behavior Rules, 18 CFR 284.288(a) 

or 284.403(a) (2005), and proposed section 159.1. 

24Sections 314 and 1284 of EPAct 2005. 

25Policy Statement on Enforcement, Docket No. 

PL06–1–000. 

26 Id. 

27Order No. 486, Regulations Implementing the 

National Environmental Policy Act, 52 FR 47897 

(Dec. 17, 1987), FERC Stats. & Regs., Regulations 

Preambles 1986–1990 ¶ 30,783 (1987). 

28 18 CFR 380.4 (2005). 

29See 18 CFR 380.4(a)(2)(ii), 380.4(a)(5), 

380.4(a)(27) (2005). 

30 5 U.S.C. 601–12 (2000). 

31The RFA definition of ‘‘small entity’’ refers to 

the definition provided in the Small Business Act, 

which defines a ‘‘small business concern’’ as a 

business that is independently owned and operated 

and that is not dominant in its field of operation. 

15 U.S.C. 632 (2000). The Small Business Size 

Standards component of the North American 

Industry Classification System defines a small 

electric utility as on that, including its affiliates, is 

primarily engaged in the generation, transmission, 

and/or distribution of electric energy for sale and 

whose total electric output for the preceding fiscal 

years did not exceed 4 million MWh. 13 CFR 

121.201 (2004) (Section 22, Utilities, North 

American Industry Classification System, NAICS). 

section 10(b) case law provides 

substantial certainty to entities subject 

to section 10(b) because it has resolved 

many recurring questions of 

interpretation that have arisen under the 

rule. 

13. Section 4b of the Commodity 

Exchange Act (CEA) is the Commodity 

Futures Trading Commission’s (CFTC) 

general anti-fraud rule.18 Section 4b 

makes it unlawful for any person to 

‘‘cheat or defraud or attempt to cheat or 

defraud,’’ or to make false reports or 

statements, or to deceive or attempt to 

deceive another in transactions under 

the CFTC’s jurisdiction. Although the 

statutory language of section 10(b) of the 

Exchange Act and section 4b of the CEA 

are not identical, the Supreme Court 

stated that they are ‘‘analogous’’ and 

‘‘[t]he language of § 4b [of the CEA] is 

similar to that of § 10(b) of the Securities 

Exchange Act of 1934.’’ 19 Lower courts 

have gone further, noting that ‘‘the 

elements of a claim under § 4(b)(A) are 

basically the same as those under Rule 

10b–5.’’ 20

14. The Commission proposes to 

pattern proposed sections 47.1 and 

159.1 of its regulations on the text of 

Rule 10b–5. This is not only consistent 

with the clear intent of sections 315 and 

1283 of EPAct 2005, but also should 

benefit the industry because it will 

provide greater certainty to entities 

subject to the new rules because the 

Commission intends to rely on the large 

body of case law interpreting and 

applying section 10(b) and Rule 10b–5 

when applying its new authority.21

The Relationship of the Proposed Rules 

to the Commission’s Market Behavior 

Rules 

15. Both Market Behavior Rule 2 and 

the proposed regulations prohibit 

manipulative conduct. For now, Market 

Behavior Rule 2 is retained, an approach 

consistent with that taken by both the 

SEC and CFTC.22 However, the 

Commission will address the possibility 

of revising or repealing Market Behavior 

Rule 2, and will seek comments in the 

near future. Moreover, as explained in 

the concurrent Policy Statement on 

Enforcement that we are issuing today 

(discussed below), we will not seek 

duplicative sanctions for the same 

conduct in the event that conduct 

violates both Market Behavior Rule 2 

and proposed section 47.1.23

Concurrent Policy Statement on 

Enforcement 

16. The Commission’s new EPAct 

2005 authority under the antimanipulation provisions coupled with 

expanded civil penalty authority,24

provides us with more effective tools to 

assure workably competitive markets. 

The Commission is concurrently issuing 

a Policy Statement on Enforcement that 

sets out guidelines on the Commission’s 

enforcement policies and practices and 

on how we will exercise our new civil 

penalty authority.25 The Policy 

Statement, like these new proposed 

regulations, draws from the experience 

of other Federal agencies, including the 

SEC and the CFTC, in explaining the 

factors that will be taken into account in 

applying remedies for misconduct, 

including the imposition of civil 

penalties. The Policy Statement 

provides that the Commission will 

exercise its enhanced authority in a firm 

but fair manner, and will take mitigating 

factors into account in resolving 

violations.26

Information Collection Statement 

17. This proposed rule implements 

the existing requirements as set forth in 

sections 315 and 1283 of EPAct 2005 

and does not include new information 

requirements under the provisions of 

the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.). 

Environmental Analysis 

18. The Commission is required to 

prepare an Environmental Assessment 

or an Environmental Impact Statement 

for any action that may have a 

significant adverse effect on the human 

environment.27 The Commission has 

categorically excluded certain actions 

from these requirements as not having a 

significant effect on the human 

environment.28 The actions proposed 

here fall within categorical exclusions 

in the Commission’s regulations for 

rules that are clarifying, corrective, or 

procedural, for information gathering, 

analysis, and dissemination, and for 

sales, exchange, and transportation of 

electric power that requires no 

construction of facilities.29 Therefore, 

an environmental assessment is 

unnecessary and has not been prepared 

in this NOPR. 

Regulatory Flexibility Act 

19. The Regulatory Flexibility Act of 

1980 (RFA) 30 generally requires a 

description and analysis of final rules 

that will have significant economic 

impact on a substantial number of small 

entities.31 The Commission is not 

required to make such analyses if a rule 

would not have such an effect. 

20. The Commission does not believe 

that this proposed rule would have such 

an impact on small entities. This 

proposed rule prohibits all entities, 

Federal Register / Vol. 70, No. 207 / Thursday, October 27, 2005 / Proposed Rules 61933 

including small entities, from 

employing manipulative or deceptive 

devices or contrivances, and therefore 

may cause entities, including 

potentially small entities, to increase 

costs in order to comply. This 

prohibition, however, will improve 

market transparency to the economic 

benefit of all entities, including small 

entities. Therefore, the Commission 

certifies that this proposed rule, if 

finalized, will not have a significant 

economic impact on a substantial 

number of small entities. 

Comment Procedures 

21. The Commission invites interested 

persons to submit comments on the 

matters and issues proposed in this 

notice to be adopted, including any 

related matters or alternative proposals 

that commenters may wish to discuss. 

Comments are due November 17, 2005. 

Reply comments are due seven days 

thereafter. Comments must refer to 

Docket No. RM06–3–000, and must 

include the commenter’s name, the 

organization they represent, if 

applicable, and their address in their 

comments. Comments may be filed 

either in electronic or paper format. 

22. Comments may be filed 

electronically via the eFiling link on the 

Commission’s Web site at http:// 

www.ferc.gov. The Commission accepts 

most standard word processing formats 

and commenters may attach additional 

files with supporting information in 

certain other file formats. Commenters 

filing electronically do not need to make 

a paper filing. Commenters that are not 

able to file comments electronically 

must send an original and 14 copies of 

their comments to: Federal Energy 

Regulatory Commission, Office of the 

Secretary, 888 First Street NE., 

Washington, DC 20426. 

23. All comments will be placed in 

the Commission’s public files and may 

be viewed, printed, or downloaded 

remotely as described in the Document 

Availability section below. Commenters 

on this proposal are not required to 

serve copies of their comments on other 

commenters. 

Document Availability 

24. In addition to publishing the full 

text of this document in the Federal 

Register, the Commission provides all 

interested persons an opportunity to 

view and/or print the contents of this 

document via the Internet through 

FERC’s Home Page (http://www.ferc.gov) 

and in FERC’s Public Reference Room 

during normal business hours (8:30 a.m. 

to 5 p.m. eastern time) at 888 First 

Street, NE., Room 2A, Washington, DC 

20426. 

25. From FERC’s Home Page on the 

Internet, this information is available in 

the eLibrary. The full text of this 

document is available in the eLibrary 

both in PDF and Microsoft Word format 

for viewing, printing, and/or 

downloading. To access this document 

in eLibrary, type the docket number 

excluding the last three digits of this 

document in the docket number field. 

26. User assistance is available for 

eLibrary and the FERC’s Web site during 

our normal business hours. For 

assistance contact FERC Online Support 

at FERCOnlineSupport@ferc.gov or tollfree at (866) 208–3676, or for TTY, 

contact (202) 502–8659. 

List of Subjects 

18 CFR Part 47 

Electric utilities, Electric power, 

Investigations, Penalties. 

18 CFR Part 159 

Natural Gas, Pipelines, Investigations, 

Penalties. 

By direction of the Commission. 

Magalie R. Salas, 

Secretary. 

In consideration of the foregoing, the 

Commission proposes to amend Chapter 

I, Title 18, Code of Federal Regulations, 

as follows: 

1. Part 47 is added to read as follows: 

PART 47—PROHIBITION OF ENERGY 

MARKET MANIPULATION 

Authority: 16 U.S.C. 791–825r, 2601–2645; 

42 U.S.C. 7101–7352. 

§ 47.1 Prohibition of energy market 

manipulation. 

(a) It shall be unlawful for any entity, 

directly or indirectly, 

(1) To use or employ any device, 

scheme, or artifice to defraud, 

(2) To make any untrue statement of 

a material fact or to omit to state a 

material fact necessary in order to make 

the statements made, in the light of the 

circumstances under which they were 

made, not misleading, or 

(3) To engage in any act, practice, or 

course of business that operates or 

would operate as a fraud or deceit upon 

any person, in connection with the 

purchase or sale of electric energy or the 

purchase or sale of transmission 

services subject to the jurisdiction of the 

Commission. 

(b) Nothing in this § 47.1 shall be 

construed to create a private right of 

action. 

2. Part 159 is added to read as follows: 

PART 159—PROHIBITION OF ENERGY 

MARKET MANIPULATION 

Authority: 15 U.S.C. 717–717z; 42 U.S.C. 

7101–7352. 

§ 159.1 Prohibition of energy market 

manipulation. 

(a) It shall be unlawful for any entity, 

directly or indirectly, 

(1) To use or employ any device, 

scheme, or artifice to defraud, 

(2) To make any untrue statement of 

a material fact or to omit to state a 

material fact necessary in order to make 

the statements made, in the light of the 

circumstances under which they were 

made, not misleading, or 

(3) To engage in any act, practice, or 

course of business that operates or 

would operate as a fraud or deceit upon 

any person, in connection with the 

purchase or sale of natural gas or the 

purchase or sale of transportation 

services subject to the jurisdiction of the 

Commission. 

(b) Nothing in this § 159.1 shall be 

construed to create a private right of 

action. 

[FR Doc. 05–21423 Filed 10–26–05; 8:45 am] 

BILLING CODE 6717–01–P 

DEPARTMENT OF THE INTERIOR 

Fish and Wildlife Service 

50 CFR Part 16 

RIN 1018–AG70 

Injurious Wildlife Species; Black Carp 

(Mylopharyngodon piceus); Extension 

of Comment Period 

AGENCY: Fish and Wildlife Service, 

Interior. 

ACTION: Proposed rule; extension of 

comment period. 

SUMMARY: We, the U.S. Fish and 

Wildlife Service, extend the comment 

period on a proposed rule to add all 

forms of live black carp 

(Mylopharyngodon piceus), including 

gametes and viable eggs, to the list of 

injurious fish under the Lacey Act and 

on the draft environmental assessment 

and draft economic analysis prepared in 

association with the proposed rule. 

DATES: Comments must be submitted on 

or before December 16, 2005. 

ADDRESSES: The analyses are available 

from the Chief, Division of 

Environmental Quality, U.S. Fish and 

Wildlife Service, 4401 North Fairfax 

Drive, Mail Stop 322, Arlington, 

Virginia 22203; FAX (703) 358–1800. 

They also are available on our Web page