FERC has significantly increased its regulatory footprint on energy company
operations since Congress passed the Energy Policy Act of 2005 (EPAct).
With recent media coverage about high-profile fines, hefty monetary assessments and other stringent enforcement
activities, energy companies are developing modern, purpose-driven compliance
departments that address the risk of violating FERC rules or federal laws.
Each ProComply client has developed both policies and practices to address
the challenge of this new regulatory environment.
Our services have two very specific objectives for clients to consider: reducing the likelihood of violating FERC rules and demonstrating to FERC that a "Culture of Compliance" exists within the energy company. These are crucial because FERC has stated in their Enforcement Policy, and has made abundantly clear through their enforcement actions, that energy company management must demonstrate a significant commitment to this "Culture".
To support those efforts, Pro-Comply has three primary services that assist
energy companies to design, develop and implement a state-of-the-art compliance
program:
Training
ProComply works collaboratively with clients, including input from operations and legal/regulatory personnel, to design and distribute concise, yet highly effective courses addressing each of the FERC enforcement areas.Training services are available online, in CD-based packages and also in Instructor-led programs delivered at client facilities. [For more on training, visit our Training page here].
Assessments
Compliance assessments, including full third-party audit services, are offered to enable clients to ascertain their compliance status with each sub-element of FERC rules. Our reports include both risk management evaluations as well as compliance recommendations based on years of developing Best Practices across the industry. We can also train our client's internal audit personnel on how to conduct annual audits. [For more on Assessments, visit our Assessments page here].
Compliance Programs
In addition to assessing FERC compliance, ProComply has designed highly effective compliance programs, including corporate policy development and manuals/guidelines that feature implementation procedures to enable policy objectives. [For more on compliance, visit our Compliance Programs page here].
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