What is FEDERAL ENERGY REGULATORY COMMISSION (FERC)?

FEDERAL ENERGY REGULATORY COMMISSION (FERC) — An independent regulatory commission within the U.S. Department of Energy that has jurisdiction over energy producers that sell or transport fuels for resale in interstate commerce; the authority to set oil and gas pipeline transportation rates and to set the value of oil and gas pipelines for ratemaking purposes; and regulates wholesale electric rates and hydroelectric plant licenses.