United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2003-06-06 monographic deposited born digital 14 p. GA 1.13:GAO-03-726R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-726R P0b002ee180378b37 f:d03726r DGPO 2010-08-12 2011-03-28 GAOREPORTS-GAO-03-726R machine generated eng fdlp REPORT GAOREPORTS-GAO-03-726R GAO-03-726R Electric energy Electric utilities Competition Consumer protection Monopolies Correspondence A07109 The electricity industry is currently undergoing a restructuring, evolving from an industry characterized by monopoly utilities that provide consumers with electricity at regulated rates to a competitive industry in which prices are largely determined by supply and demand. The Federal Energy Regulatory Commission (FERC) has been engaged in this restructuring effort and is currently working, among other things, to foster competitive wholesale energy markets across the nation while protecting consumers against abuses of market power. At the retail level, about half the states have pursued restructuring their retail electricity markets in order to allow consumers such as residential, commercial, and industrial customers to choose their electricity suppliers. Proponents of electricity restructuring believe that it will ultimately provide consumers with lower electricity prices, more services, and technological innovation. However, opponents cite extremely high prices and market manipulation in California as evidence that, without more stringent oversight, restructuring may leave consumers vulnerable to higher prices, market manipulation, and less reliable service. In light of ongoing electricity restructuring efforts, Congress asked us to describe FERC's role in protecting electricity consumers. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-726R/html/GAOREPORTS-GAO-03-726R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-03-726R/pdf/GAOREPORTS-GAO-03-726R.pdf GAO-03-726R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-03-726R Correspondence GAO-03-726R; Electricity Markets: FERC's Role in Protecting Consumers; Electric energy Electric utilities Competition Consumer protection Monopolies