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Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport of petroleum by pipeline. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects.
FERC was created in 1977 by the U.S. Congress in the aftermath of the 1973 oil crisis. FERC is an independent agency, even though it is part of the U.S. Department of Energy. It is headed by five commissioners who are nominated by the U.S. president and confirmed by the U.S. Senate. There may be no more than three commissioners of one political party serving on the commission at any given time.
The responsibilities of FERC include the following:
FERC is a large independent regulatory agency, within the United States Department of Energy, that participates in business oversight. The President and Congress do not generally review FERC decisions, but the decisions are reviewable by the federal courts. FERC is self-funding, in that Congress sets its budget through annual and supplemental appropriations and FERC is authorized to raise revenue to reimburse the United States Treasury for its appropriations, through annual charges to the natural gas, oil, and electric industries it regulates.
FERC is independent of the Department of Energy political structure because FERC activities "shall not be subject to further view by the Secretary [of Energy] or any officer or employee of the Department". The Department of Energy can, however, participate in FERC proceedings as a third party.
FERC has promoted voluntary formation of regional transmission organizations (RTOs) and Independent System Operators (ISOs) to eliminate the potential for undue discrimination in access to the electric grid; it has made key decisions expanding its own power in regional and interregional transmission planning and cost allocation through the landmark Order Nos. 1000, 1920, 1977, and 2023.
FERC investigated the alleged manipulation of electricity market by Enron and other energy companies, and their role in the California electricity crisis. FERC has collected more than $6.3 billion from California electric market participants through settlements. Since passage of the Energy Policy Act of 2005, FERC has imposed, through settlements and orders, more than $1 billion in civil penalties and disgorgement of unjust profits to address violations of its anti-market manipulation and other rules.
FERC regulates approximately 1,600 hydroelectric projects in the U.S. It is largely responsible for permitting construction of a large network of interstate natural gas pipelines. FERC also works closely with the United States Coast Guard to review the safety, security, and environmental impacts of proposed LNG terminals and associated shipping.
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Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport of petroleum by pipeline. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects.
FERC was created in 1977 by the U.S. Congress in the aftermath of the 1973 oil crisis. FERC is an independent agency, even though it is part of the U.S. Department of Energy. It is headed by five commissioners who are nominated by the U.S. president and confirmed by the U.S. Senate. There may be no more than three commissioners of one political party serving on the commission at any given time.
The responsibilities of FERC include the following:
FERC is a large independent regulatory agency, within the United States Department of Energy, that participates in business oversight. The President and Congress do not generally review FERC decisions, but the decisions are reviewable by the federal courts. FERC is self-funding, in that Congress sets its budget through annual and supplemental appropriations and FERC is authorized to raise revenue to reimburse the United States Treasury for its appropriations, through annual charges to the natural gas, oil, and electric industries it regulates.
FERC is independent of the Department of Energy political structure because FERC activities "shall not be subject to further view by the Secretary [of Energy] or any officer or employee of the Department". The Department of Energy can, however, participate in FERC proceedings as a third party.
FERC has promoted voluntary formation of regional transmission organizations (RTOs) and Independent System Operators (ISOs) to eliminate the potential for undue discrimination in access to the electric grid; it has made key decisions expanding its own power in regional and interregional transmission planning and cost allocation through the landmark Order Nos. 1000, 1920, 1977, and 2023.
FERC investigated the alleged manipulation of electricity market by Enron and other energy companies, and their role in the California electricity crisis. FERC has collected more than $6.3 billion from California electric market participants through settlements. Since passage of the Energy Policy Act of 2005, FERC has imposed, through settlements and orders, more than $1 billion in civil penalties and disgorgement of unjust profits to address violations of its anti-market manipulation and other rules.
FERC regulates approximately 1,600 hydroelectric projects in the U.S. It is largely responsible for permitting construction of a large network of interstate natural gas pipelines. FERC also works closely with the United States Coast Guard to review the safety, security, and environmental impacts of proposed LNG terminals and associated shipping.