GAO Slams FERC For Poor Utility Merger Oversight

Law360, New York (March 14, 2008, 12:00 AM EDT) -- The U.S. Federal Energy Regulatory Commission needs to strengthen its ability to detect harmful cross-subsidization when reviewing proposed mergers between public utilities in the post-deregulation era, the Government Accountability Office has found.

Since the Energy Policy Act of 2005 ushered competition into the public utility industry, FERC has made few substantive changes to its merger review process or post-merger oversight, the GAO reported in a study this month.

As a result, the federal regulator's ability to ensure that mergers don't foster cross-subsidization is weak, and many...
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