BWise Software Solution for FERC

BWise Software Solution for FERC

The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over interstate and wholesale electricity sales, hydroelectric, natural gas, liquefied natural gas and oil pipelines. The U.S. Energy Policy Act of 2005 expanded FERC's authority to impose mandatory reliability standards on the bulk transmission system and to impose penalties on entities that manipulate the electricity and natural gas markets. Energy, Utility and Pipeline enterprises must comply with the regulations and standards set down by FERC.

Continuously monitor compliance with FERC regulations

With BWise® Compliance Management, which is part of the integrated BWise® GRC Platform, companies are able to comply with FERC regulations and continually monitor that compliance. BWise Compliance Management alsoenables a corporation to map its compliance, easily track compliance issues and omissions, perform a risk analysis on particular compliance initiatives, and finally, create an overview of compliance with full reporting and dashboards. Internal Auditors and Risk Managers can use the BWise solution to find and focus on key non-compliance issues, ultimately probing deeply to find the source of non-compliance then tracking the issue in the future. Both financial and organizational incidents can be found and tracked in the software solution; for example energy price manipulation for FERC compliance and sabotage.

For more information about how BWise can help you comply with FERC regulations, please contact us.

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