Legislation that could see OTC energy markets falling under Commodities Futures Trading Commission (CFTC) oversight has been introduced into the US Senate. The introduction follows a CFTC hearing into the necessity of removing exempt markets to CFTC supervision, as many of the major energy exchanges classed over the need for such a change.Despite a lack of consensus among exchange leaders over the proposal, CFTC may end up regulating the OTC energy markets. Senator Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations, introduced the legislation on 18 September, which he stressed will prevent price manipulation and excessive speculation that are leading to high energy prices for US consumers.The bill will target energy markets that are currently exempt from government oversight under the “Enron loophole,” a...