Federal Energy Regulatory Commission

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Federal Energy Regulatory Commission
Founded Formed October 1, 1977 (previously Federal Power Commission)
Headquarters Washington, D.C.
Products U.S. energy regulation
Web site www.ferc.gov/about/offices.asp

The Federal Energy Regulatory Commission (FERC), located in Washington, D.C., is an independent agency that regulates the interstate transmission of natural gas, oil, and electricity. FERC also regulates natural gas and hydropower projects.[1]

What FERC Does

FERC also reviews proposals to build liquefied natural gas (LNG) terminals and interstate natural gas pipelines as well as licensing hydropower projects. The Energy Policy Act of 2005 gave FERC additional responsibilities as outlined in FERC's Top Priorities and updated Strategic Plan. As part of that responsibility, FERC:

  • Regulates the transmission and sale of natural gas for resale in interstate commerce;
  • Regulates the transmission of oil by pipeline in interstate commerce;
  • Regulates the transmission and wholesale sales of electricity in interstate commerce;
  • Licenses and inspects private, municipal, and state hydroelectric projects;
  • Approves the siting of and abandonment of interstate natural gas facilities, including pipelines, storage and liquefied natural gas;
  • Ensures the reliability of high voltage interstate transmission system;
  • Monitors and investigates energy markets;
  • Uses civil penalties and other means against energy organizations and individuals who violate FERC rules in the energy markets;
  • Oversees environmental matters related to natural gas and hydroelectricity projects and major electricity policy initiatives; and
  • Administers accounting and financial reporting regulations and conduct of regulated companies.

History

Products and Services

Membership

Key People

References

  1. Federal Energy Regulatory Commission. FERC.