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Following the Enron bankruptcy and West Coast energy crisis of 2001-2002, Congress gave the Federal Energy Regulatory Commission (FERC) more powerful enforcement tools to prevent unlawful and manipulative activities in energy markets. The Energy Policy Act of 2005 (EPACT) gave FERC the authority to assess penalties under the Natural Gas Act and Federal Power Act of up to $ 1 million per day per violation. See 15 U.S.C.A. ' 717t-1; 16 U.S.C.A. ' 825o-1. FERC has expanded its Office of Enforcement, called for heightened industry compliance programs and self-disclosure of misconduct, and is newly focused on enforcement rather than on traditional ratemaking. Two years into the EPACT era, FERC has used its newly acquired authority vigorously:
Major questions remain about FERC's enforcement policies, including: the scope of FERC's jurisdiction; the scope of the penalties to be associated with particular violations; and whether respondents facing penalty awards are entitled to a de novo hearing in district court. FERC has also not indicated whether it will exercise its long-standing authority to refer willful violations of its major statutes to the Department of Justice (DOJ) for criminal prosecution, particularly given that the potential monetary penalties and terms of imprisonment were significantly increased under EPACT. However, FERC's actions under EPACT suggest some benchmarks for companies active in the energy industry seeking to avoid or minimize liability under this new regime.
The Far Reach of EPACT Jurisdiction
A wide range of businesses active in energy markets now may be exposed to FERC enforcement actions. Historically, FERC enforcement focused on the traditionally regulated companies ' chiefly interstate natural gas pipelines and electric utilities ' and compliance with energy transmission and sales regulations and tariffs. In the past, FERC did not focus on the actions of the utilities' customers. EPACT, however, prohibits any manipulative or deceptive device by any person in connection with jurisdictional sales of gas or electricity, and enhances FERC's authority over customers in some circumstances.
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