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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, complete and timely information on the operation of electric generating plants is not generally accessible to federal agencies, although this information is generally deemed important to evaluate reliability of the electricity ...
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...showed "decision-makers at FERC were wined and dined by Enron...According to the General Accounting Office, which investigated the Lay...not disclosed in the public FERC record." She said it raised...contacts between Enron and FERC." Wood's report gave skimpy...
