Federal Energy Regulatory Committee (FERC): (www.ferc.gov)
The FERC is an independent, federal agency that regulates and oversees energy industries in the interest of the public. The FERC will monitor and regulate Leaf River Energy Centerís development, construction and operations. 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 expanded FERC's authority to impose mandatory reliability standards on the bulk transmission system and to impose penalties on entities that manipulate the electricity and natural gas markets.
- 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.
Areas Considered outside of the FERCs regulation include:
- Regulation of retail electricity and natural gas sales to consumers;
- Approval for the physical construction of electric generation, transmission, or distribution facilities;
- Regulation of activities of the municipal power systems, federal power marketing agencies, and most rural electric cooperatives;
- Regulation of nuclear power plants by the Nuclear Regulatory Commission.
- Issuance of State Water Quality Certificates;
- Oversight for the construction of oil pipelines;
- Abandonment of service as related to oil facilities;
- Mergers and acquisitions as related to oil companies;
- Responsibility for pipeline safety or for pipeline transportation on or across the Outer Continental Shelf;
- Regulation of local distribution pipelines of natural gas; and the
- Development and operation of natural gas vehicles.