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Simple English definitions for legal terms
Federal Power Commission
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A quick definition of Federal Power Commission:
The Federal Power Commission, now known as the Federal Energy Regulatory Commission (FERC), is a group of five people who work for the U.S. Department of Energy. They are responsible for making sure that companies who sell natural gas, electricity, and oil by pipeline charge fair prices. They also decide if companies can build hydroelectric-power projects. The FERC was created in 1977 and is important for making sure that energy companies follow the rules.A more thorough explanation:
The Federal Power Commission, now known as the Federal Energy Regulatory Commission (FERC), is an independent commission within the U.S. Department of Energy. Its main responsibilities include:
- Licensing hydroelectric-power projects
- Setting interstate rates on transporting and selling natural gas for resale
- Setting interstate rates on transporting and selling electricity at wholesale
- Setting interstate rates on transporting oil by pipeline
The FERC was created by the Department of Energy Organization Act of 1977 and is made up of five members. It enforces the Natural Gas Act and succeeded the Federal Power Commission.
For example, if a company wants to build a hydroelectric-power project, they would need to obtain a license from the FERC. The FERC would also set the rates for transporting natural gas or electricity across state lines.