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Even in the wake of sweeping deregulation of the energy industry, few companies face as much government oversight as utilities. Power generation and distribution companies are subject to a maze of regulatory oversight, including state agencies and the federal agencies, the Federal Energy Regulatory Commission (FERC), the North American Electric Reliability Corporation (NERC), the Nuclear Regulatory Commission (NRC), the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA).
In addition, with the 2005 repeal of the Public Utilities Holding Companies Act (PUHCA), utilities have increased freedom to engage in mergers and acquisitions that span state borders. As a result, FERC has expanded its authority to access the books and records of public utilities, leading to a strong requirement for transparency and control.
OpenPages has enabled leading energy and utilities companies like PG&E Corporation, BP and Ferrellgas to meet FERC, NERC, Sarbanes Oxley Act (SOX) and other regulatory requirements. OpenPages enables them to eliminate risk and compliance silos, manage risk across the business, sustain compliance across multiple regulations, and embed these activities into their core business practices.
The OpenPages Platform enables energy and utility organizations to execute disciplined risk and compliance programs to manage unexpected outcomes and to reduce the impact of realized risks when they do occur. OpenPages solutions provide enhanced visibility into the risk landscape, enabling business managers in different departments to make smarter decisions that maximize value, reduce costs and balance risk and returns.
For questions or for more information on OpenPages compliance solutions for FERC and NERC, please click here or call us at 781.693.5999.
