Federal Energy Regulatory Commission (FERC),
Definition of Federal Energy Regulatory Commission (FERC):
The Federal Energy Regulatory Commission (FERC) is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. FERC also reviews proposals to build liquefied natural gas (LNG) terminals and interstate natural gas pipelines as well as licensing hydropower projects.
The Federal Energy Regulatory Commission’s stated mission is to assist consumers in obtaining reliable, efficient, and sustainable energy services at a reasonable cost through appropriate regulatory and market means. It has five guiding principles. FERC aims to use its resources efficiently and effectively to achieve its strategic priorities via organizational excellence. With the goal of due process and transparency, it aims to be open and fair to all participants. In its orders, opinions, and reports, FERC strives to provide regulatory certainty through consistent approaches and actions. FERC conducts regular outreach to ensure that interested parties have an opportunity to contribute to the performance of its responsibilities.
Independent agency responsible for regulating interstate transmission of natural gas, electricity and oil and for reviewing proposals for potential new natural gas terminals and pipelines or hydropower projects.
Meaning of Federal Energy Regulatory Commission (FERC) & Federal Energy Regulatory Commission (FERC) Definition