Power Marketers Flex at FERC
When Enron Power Marketing sought to relax the reporting rules, the FERC emphatically refused on the grounds that informational filings are the primary mechanism for monitoring how well marketers' comply with the competitive standards that permit them to sell at market-based rates.
Roger D. Feldman, an energy lawyer specializing in utility regulation and finance, believes the FERC should limit its reporting requirements: "FERC is not constituted to be the Federal Power Trade Commission. [The commission] cannot be expected to maintain the mega data bank needed to police the deregulated power economy. We would need a new Btu tax to pay for that overpass on the information highway." Feldman does not suggest that the FERC ignore the need to ensure fair markets where power marketers are concerned, but that "great care and thought should be given to the future role the commission wants to play, and is institutionally competent to play, in the competitive environment to whose creation it contributed."
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