Federal Energy Regulatory Commission (FERC)
Definition - What does Federal Energy Regulatory Commission (FERC) mean?
Federal Energy Regulatory Commission is a federal agency in the United States that has jurisdiction over the different energy divisions. It is managed by the United States federal agency and it is responsible for monitoring hydroelectric licensing, natural gas pricing, electricity sales, electric rates and oil pipeline rates. The commission is also authorized to review and regulate the natural gas pipelines, terminals of liquefied natural gas and other non-federal hydropower projects. The Federal Energy Regulatory Commission was preceded by Federal Power Commission (FPC), which was upgraded to FERC after the oil crisis experienced in 1973.
Petropedia explains Federal Energy Regulatory Commission (FERC)
FERC or Federal Energy Regulatory Commission of the United States is an independent organization that holds jurisdiction power over energy related divisions in the country. Basically, it regulates the interstate transmission of natural gas, oil and electricity. The commission is also responsible to review the plans for the establishment of new terminals for liquefied natural gas, which is abbreviated as LNG. In addition to this, the agency also looks after the proposals of hydropower projects and interstate gas pipelines. The agency is also responsible to ensure proper guidelines for all these interstate energy divisions and it licenses them after a complete review. The roles and responsibilities of FERC aren’t limited to just these; they have additional responsibilities as well.