FERC lacks data to oversee power market, General Accounting Office says.(News)(Brief Article)

WASHINGTON, DC -- The General Accounting Office (GAO), the investigative arm of Congress, released a report on July 30 that concluded that the Federal Energy Regulatory Commission (FERC) is hampered in overseeing U.S. electricity markets at least in part by a lack of information and the authority to collect that information.

"In order to monitor current market conditions, FERC needs to access market information on wholesale transactions; however, no federal agency, including FERC, has access to complete and timely information on the operations of electricity markets and market participants, exposing gaps in key information," the report states.

"For example, …