Federal Energy Regulatory Commission (FERC)
The Federal Energy Regulatory Commission (FERC), formerly the Federal Power Commission (FPC), is a Federal regulatry body headed by five commissioners. Its website describes itself as "an independent agency that regulates the interstate transmission of natural gas, oil, and electricity. FERC also regulates natural gas and hydropower projects". 1
FERC was petitioned by California during the California Electricity Crisis to investigate market manipulation by the energy wholesalers, and in the following years to force a re-negotiation of long-term contracts signed when the state was being held hostage.