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TeachMeFinance.com - explain Federal Energy Regulatory Commission (FERC) Federal Energy Regulatory Commission (FERC) The term 'Federal Energy Regulatory Commission (FERC)' as it applies to the area of reclamation can be defined as ' Established in 1977 (replacing the Federal Power Commission) the the primary responsibility of ensuring the Nation's consumers adequate energy supplies at just and reasonable rates and providing regulatory incentives for increased productivity, efficiency, and competition. Its primary functions are to establish and enforce rates and regulations regarding interstate aspects of the electric, natural gas, and oil industries. It also issues licenses for non-Federal hydroelectric plants and certifies small power production and cogeneration facilities'. The term 'Federal Energy Regulatory Commission (FERC)' as it applies to the area of nuclear science can be defined as ' An independent agency that regulates the interstate transmission of electricity, natural gas, and oil. FERC also regulates and oversees hydropower projects, and the construction of liquefied natural gas terminals and interstate natural gas pipelines. FERC protects the economic, environmental, and safety interests of the American public, while working abundant, reliable energy in a fair, competitive market. '. The term 'Federal Energy Regulatory Commission (FERC)' as it applies to the area of energy can be defined as ' The Federal agency with jurisdiction over interstate electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, oil pipeline rates, and gas pipeline certification. FERC is an independent regulatory agency within the Department of Energy and is the successor to the Federal Power Commission'. Previous 5 Terms: Federal coal lease Federal Crop Insurance Corporation (FCIC) Federal Crop Insurance Reform Act of 1994 Federal electric utility Federal Emergency Management Agency (FEMA) Next 5 Terms: Federal Farm Credit Banks Funding Corporation (FFCBFC) Federal Food, Drug, and Cosmetic Act (FFDCA) of 1938 Federal General Revenues Federal grain inspection program Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.