Recent FERC Enforcement Efforts Reported
FERC’s Office of Enforcement on November 6 released its “2008 Report on Enforcement,” an annual report detailing FERC’s enforcement program during the preceding fiscal year ending September 30. This report provides a statistical analysis of FERC’s enforcement activities, including receipts of company self-reports and investigations opened by FERC staff. In a statement issued concurrently with this year’s report, FERC Chairman Joseph Kelliher emphasized that the focus of FERC’s enforcement program is on compliance, and the report is aimed at providing energy market participants with information to help them comply with applicable laws and regulations.
This year’s report showed a significant jump in enforcement activity in 2008, with self-reports of violations more than doubling since 2007 (from 31 in 2007 to 68 in 2008), and with Office of Enforcement staff opening a significantly higher number of non-public investigations in 2008 than in 2007. The Staff entered into seven settlement agreements in 2008, which totaled more than $20 million in civil penalties. On an encouraging note — a note consistent with FERC assurances that it looks favorably upon self-auditors and self-reporters — the report showed that approximately 75% of the self-reports made in 2006 and 2007 were closed without any formal action or penalty assessment.
News z: Tracy Davis
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