Benefits of compliance
The Energy Policy Act of 2005 profoundly increases regulatory risk for energy market participants in the US, but implementing an effective compliance programme can have long-lasting benefits, writes former FERC executive William Hederman, Michael Griffen and George Billinson
Every energy market participant in North America, from the sleepiest municipal utility to the most aggressive Enron-alumni hedge fund, faces a profoundly different risk profile following the enactment of the Energy Policy Act of 2005 (EPAct 2005). The Federal Energy Regulatory Commission (FERC) - the agency primarily responsible for implementing EPAct 2005 - has strengthened its monitoring and investigatory capabilitiy, and has signalled its intention to police and enforce its market rules
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