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42 Infrastructure 1 (2002-2003)

handle is hein.journals/infrastr42 and id is 1 raw text is: infraVOLC VRre1
VOL. 41, NO. 4 ; VOL. 42, NO. I SUMMER!FALL 2002

FERC's new approach
to market power
By Floyd L Norton IV
n February 2002, the Federal Energy Regulatory Commission (FERC)
announced that it was establishing a new Office of Market Oversight &
Investigations (OMOI), to oversee and assess the operations of the nation's
electricity, gas and oil pipeline markets. FERC is restructuring its own opera-
tions as it works to restructure the electric industry. Chairman Pat Wood has said
that FERC needs to become an enforcement agency, based on the SEC and Com-
modity Futures Trading Commission models.
In April 2002, Wood announced the appointment of William F. Ilederman Jr. as
director of OMOI. I lederman came to FERC from LECG, a consulting group with
significant energy experience, particularly in the antitrust area. Subsequently, Den-
nis O'Keefe was named deputy director, Investigations and Enforcement for
OMOI. Prior to joining OMOI, O'Keefe served 20 years with the Commodity
Futures Trading Commission (CFrC), including 16 years as assistant director of the
continued on page 6
Norton is with Morgan, Lewis & Bockius Li' in Washington. Ihis article is based
on a tresentation to the Nroneimber 2002 ,neetin' of the PUlCAT Council oroub.

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