The Federal Energy Regulatory Commission’s (“FERC”) Office of Enforcement (“Enforcement”) issued its 2015 Report on Enforcement (“Report”) on November 19, 2015. The Report summarizes FERC’s enforcement efforts during the fiscal year 2015 in Enforcement’s four divisions: Investigations, Audits and Accounting, Energy Market Oversight, and Analytics and Surveillance. The Report offers insight into FERC’s public and non-public enforcement activities, which include self-reported violations and investigations that were closed without further action, and audits of jurisdictional companies. Consistent with the form of its past reports, FERC focused on four major areas:
1. Fraud and market manipulation;
2. Serious violations of the Reliability Standards;
3. Anticompetitive conduct; and
4. Conduct that threatens the transparency of regulated markets.
It intends to maintain these priorities in 2016. The Report’s hard numbers verify an increase in FERC enforcement activity this year, and confirm FERC’s continued emphasis on investigations and audits. read more