The DOE also includes the Federal Energy Regulatory Commission (FERC), an independent commission made up of five members. The commission took over many of the functions of the former Federal Power Commission, including the setting of rates and charges for the sale of natural gas and electricity. The commission also establishes rates for the transportation of oil by pipeline.
FERC's role in managing the nations power supply has proved somewhat controversial. Critics accused it of not doing enough to prevent California's power crisis in 2001, though FERC eventually did impose price controls to mitigate the crisis. In 2003, FERC determined that energy suppliers manipulated the market and that California was owed $3.3 billion in refunds.
User Comments Add a comment…