Check out this Electric Light & Power article, "Control Risk with Stronger FERC Compliance, Audits" written by MetricStream SVP Brenda Boultwood. According to Brenda, "Compliance has a dual purpose: prevention and mitigation of violations. Prevention measures keep the company out of trouble, save the company money and strengthen its compliance health. When it comes to FERC, mitigation measures are implemented after a violation is discovered. Managing a FERC investigation can cost much time and effort, and if a violation is discovered, it could cost a company millions of dollars in penalties and disgorgements and harm a company’s reputation. Energy companies must adopt strong compliance programs to protect their companies from noncompliance risks and costs and to gain the trust and confidence of regulators, stakeholders and customers." Read the full article using the link below.
Posted on: Mon, 17 Jun 2013 05:05:22 +0000