The Senate Committee on Energy and Natural Resources held a formal oversight hearing for the Federal Energy Regulatory Commission (FERC) on June 12, 2018, with all five commissioners present for the first time in a decade. FERC is responsible for regulating the interstate transmission of electricity, oil, and natural gas, and plays an integral role in reviewing proposals to build natural gas pipelines and liquefied natural gas (LNG) terminals and providing licenses for hydroelectric power projects.
The Senate Energy and Natural Resources Committee held a hearing on January 23 that underscored concerns surrounding the reliability and resiliency of the electrical power system, particularly under certain weather conditions. Experts on the witness panel discussed the overall performance of nation’s grid during recent cold weather events, and potential areas for improvement.
On January 8, the Federal Energy Regulation Commission (FERC) rejected a proposal that was submitted by Secretary of Energy Rick Perry in September 2017 to subsidize the operating costs of coal and nuclear power plants, since the rule did not satisfy certain statutory standards. However, FERC also recognized that this issue warrants further attention and initiated a new proceeding to specifically evaluate the resilience of the bulk power system in certain operating regions.