FERC today issued its fiscal year 2024 Enforcement Report covering the activities of the FERC Office of Enforcement for the past year. Here are some highlights for FY2024:
- Enforcement staff opened 30 new investigations, while bringing 10 pending investigations to closure without further action;
- Enforcement staff completed 10 audits, resulting in 55 findings of noncompliance and 240 recommendations for corrective action, most of which were implemented within six months, and directed $46 million in refunds and other recoveries;
- Enforcement staff negotiated 12 settlements that were approved by the Commission, 11 of which resolved investigations for a total of approximately $78.58 million ($16.68 million in civil penalties and $61.9 million in disgorgement);
- The remaining Commission-approved settlement resolved one district court litigation matter for $2.3 million in civil penalties.
The report includes an overview of, and statistics reflecting, the activities of the three divisions within Enforcement: Division of Investigations (DOI), Division of Audits and Accounting (DAA), and Division of Analytics and Surveillance (DAS).
In FY2024, Enforcement’s priorities focused on matters involving fraud and market manipulation; serious violations of the Reliability Standards; anticompetitive conduct; threats to the nation’s energy infrastructure and associated impacts on the environment and surrounding communities; and conduct that threatens the transparency of regulated markets.
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