Hoeven: FERC Modernizes Energy Market Regulations, Will Help Reduce Costs to Consumers
BISMARCK, N.D. – Senator John Hoeven, a member of the Senate Energy and Natural Resources Committee, today issued the following statement after the Federal Energy Regulatory Commission (FERC) issued a final rule to modernize the way it regulates energy markets. In 2018, Hoeven joined a bipartisan, bicameral group in urging FERC to update these regulations under the Public Utility Regulatory Policies Act (PURPA), citing significant changes in the energy market since the law was passed in 1978 as well as unnecessary costs being passed along to customers.
“We appreciate FERC heeding our call to modernize these regulations,”said Hoeven. “The final rule supports more competitive energy markets and provides greater flexibility to states. That means a better value for consumers.”
“The Lignite Energy Council applauds Senator Hoeven’s efforts to modernize regulations under the Public Utility Regulatory Policies Act (PURPA) of 1978. Energy production has changed drastically in the past 40 years when PURPA was first enacted and we are supportive of the changes made in FERC’s ruling today which will provide more flexibility to electric utilities,” said Jason Bohrer, President and CEO of the Lignite Energy Council.
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