FERC Ups Penalties For Electric Reliability Lapses

Law360, New York (June 20, 2008, 12:00 AM EDT) -- As the blackout-prone summer months approach, the U.S. Federal Energy Regulatory Commission has added teeth to its electric reliability regulatory regime, approving “Violation Severity Levels” that adjust penalties based on the degree to which producers violate federal standards.

On Thursday, the commission approved severity levels suggested in March by the North American Electric Reliability Corp., the FERC-created nonprofit that possesses electric reliability oversight responsibilities and regulatory jurisdiction over eight regional organizations.

The VSLs combine with FERC's “Violation Risk Factors” to make up a matrix that details...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.