Who has to comply with FERC Rules?
The Federal Energy Regulation Commission (FERC) is an independent regulatory agency housed within the larger Department of Energy. The FERC regulates the transmission and sale of natural gas, electricity, oil, and hydropower. Accordingly, any organization that sells or transmits any of these resources across state lines is subject to FERC compliance.
What are the rules for FERC Compliance?
The FERC requires organizations to review and retain an indelible record of certain communications. Notably, the FERC requires independent functionality between transmission and marketing employees, which requires compliance officials to flag non-compliant, cross-departmental messages for review. Additionally, the FERC has a host of retention requirements that mandate a copy of communications be kept for certain time periods depending on its classification. When evaluating compliance, FERC officials are looking at the “Role of senior management in fostering compliance; Effective preventative measures to ensure compliance; Prompt detection, cessation, and reporting of violations; and Remediation efforts.” For all compliance requirements, refer to the FERC website.
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