FERC Defends Merger Oversight In Front Of Senate

Law360, New York (May 1, 2008, 12:00 AM EDT) -- The U.S. Federal Energy Regulatory Commission defended itself against a study alleging that it was not protecting consumers from harmful cross-subsidization on Thursday, telling a Senate hearing that its merger oversight did not need to be substantially overhauled.

FERC Chairman Joseph T. Kelliher told the Senate Energy and Natural Resources Committee that the state and regulatory structures for governing electric utility holding companies were sound, despite what a Government Accountability Office report said.

The GAO found in a March study that since the Energy Policy Act...
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