Federal Oversight and State Concerns

42.

The Department of Justice (DOJ), the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC), and the Federal Energy Regulatory Commission (FERC) have periodically reviewed proposed utility mergers over the last five years. Please think about the most recent merger reviews that affected a utility overseen by your commission or that may have affected a utility overseen by your commission, if any, done by these agencies. In answering the following question, please be candid in your assessments. In your view, how valuable are the merger reviews of each of the following?

Check one for each row.

		Very Great Value	Great Value	Moderate Value	Some Value	Little or No Value	No Opinion	Not Applicable
	a. Federal Energy Regulatory Commission (FERC)
	b. Securities and Exchange Commission (SEC)
	c. Department of Justice (DOJ)
	d. Federal Trade Commission (FTC)

43.	The Securities and Exchange Commission (SEC), and the Federal Energy Regulatory Commission (FERC) have periodically taken actions regarding affiliate transactions in the last five years. In your view, how valuable were each of the following's actions regarding affiliate transactions?
	Check one for each row.

		Very Great Value	Great Value	Moderate Value	Some Value	Little or No Value	No Opinion
	a. FERC actions
	b. SEC actions

44.	In your view, how valuable have each of the following agency's actions been with regard to matters related to utility oversight?
	Check one for each row.

		Very Great Value	Great Value	Moderate Value	Some Value	Little or No Value	No Opinion
	a. Federal Energy Regulatory Commission (FERC)
	b. Securities and Exchange Commission (SEC)
	c. Department of Justice (DOJ)
	d. Federal Trade Commission (FTC)

45.	For each of the following provisions, how much protection do you think current FERC authorities offer for your state?
	Check one for each row.

		Very Great Protection	Great Protection	Moderate Protection	Some Protection	Little or no Protection	Don't know
	a. Mergers
	b. Affiliate Transactions
	c. Actual access to books and records

46.

The 2005 Energy Policy Act (EPACT2005) is a statute that provides tax incentives and loan guarantees for energy production of various types and was intended to establish a comprehensive, long-range energy policy. One of the many provisions of EPACT 2005 provided your state commission with access to books and records of utility company systems under certain conditions through FERC. How helpful, if at all, is the access to each of the following's records for your state's ability to protect utility ratepayers?

Check one for each row.

		Extremely helpful	Very helpful	Moderately helpful	Somewhat helpful	Not at all helpful	Already have access
	a. Regulated utility
	b. Holding Company
	c. Affiliated Company

47.	What, if any, additional authorities, does the FERC need?

48.	Does your commission foresee needing any of the following to deal with the changes from EPACT 2005 concerning holding companies, mergers and various activities previously covered by the Public Utility Holding Company Act of 1935 (PUCHA 1935)?
	Check one for each row.

		Yes, my state needs this to deal with changes	No, my state does not need this to deal with changes
	a. Additional authorities
	b. Additional staff
	c. Additional funding

49.	Consider each of the following topics since the passage of EPACT 2005 in August 2005. For each topic has each been enacted by the legislature, proposed in the legislature, enacted by your commission, or proposed by your commission?
	Check one for each row.

		Enacted by Legislature	Proposed in Legislature	Enacted by Commission	Proposed by Commission	Not enacted or proposed
	a. Ring Fencing
	b. Enacting or Strengthening Affiliate Transaction Rules
	c. Additional Oversight for Mergers
	d. Increasing Commission Budget
	e. Increasing Commission staffing

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Full Report: GAO-08-289

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