WASHINGTON, DC – Energy and Commerce Committee Chairman Greg Walden (R-OR) and Subcommittee on Energy Chairman Fred Upton (R-MI) issued the following statement after President Trump signed H.R. 1109, a bill authored by committee member Rep. Tim Walberg (R-MI), into law last week.
The legislation amends the Federal Power Act to expressly include a minimum monetary threshold of $10 million for mergers and acquisitions of facilities subject to the jurisdiction of the Federal Energy Regulatory Commission (FERC). By establishing a threshold of $10 million for review of certain public utility transactions, this will help reduce excessive paperwork that bogs down the commission and lower energy prices for consumers.
“By applying a consistent standard for FERC’s reviews, we are reducing excessive regulatory costs and allowing FERC to focus on its mission of affordable and reliable energy,” said Chairman Walden and #SubEnergy Chairman Upton. “This commonsense initiative will cut bureaucratic red tape, while bringing down energy prices for Americans across the country. Rep. Walberg’s bill is an example of good governance and we applaud his dedication to enact solutions that put consumers first.”
H.R. 1109 initially passed the House, by unanimous consent, in June 2017. It passed the Senate, as amended, by unanimous consent, last month.