Mission
The Division of Energy Market Oversight (Market Oversight) serves the public by performing daily oversight of the Nation's natural gas and electric power markets, identifying market events and trends, reporting them to the Commission and, as appropriate, the public, and proposing policy options and regulatory strategies for addressing issues identified. Market Oversight refers issues of potential market manipulation or rules violations to the Division of Investigations or the Division of Analytics and Surveillance, as appropriate. Market Oversight assesses factors that relate to the competitiveness, fairness and efficiency of wholesale energy markets. Market Oversight advises the Commission on the efficacy of its current regulatory policies in light of evolving energy markets and ensures the Commission has the information needed to oversee the markets effectively. Market Oversight serves as an advisor to the Office Director, the Chairman, and the Commissioners on market operations, structure and policy issues. Market Oversight administers, analyzes, and ensures compliance with the filing requirements for the Electric Quarterly Report (EQR) and the FERC financial forms. Market Oversight provides technical support to the Commission and its various Offices.

Functions

• Provides authoritative guidance to industry and takes action to resolve or technically direct the resolution of issues affecting the division’s data collection efforts.



• Administers financial forms Nos. 1, 1F, 2, 2-A, 6, 3Q, 6Q, 552, PUCHA Form No. 60, FERC-61 (narrative description of service company functions), and FERC-730 (Report of transmission investment activity).



• Manages FERC’s EQR program and provides expertise on the collection to facilitate its use.



• Analyzes and comments on new or proposed policy changes or rulemakings affecting the FERC’s EQR and financial and operational information data collection program.



• Develops and maintains a real-time information capability that includes the Market Monitoring Center (MMC). Stores data and information in readily retrievable ways.



• Processes data and information to make it easily accessible to OE staff and others. Designs and creates computer analysis programs and data bases to help refine and prepare information for analysis. Automates information collection where possible.



• Develops and produces a weekly market report for the Commission and its Offices providing important market information on market trends, developments, and issues.



• Maintains active outreach efforts with regional stakeholders.



• Participates in the Commission's outreach program, making use of the MMC as the focal point of outreach activities on market-based issues.



• Designs and maintains the Oversight portion of the FERC public website.



• Produces monthly report on Division activities.



• Monitors RTO/ISO market outcomes and performance for potential structural and operational issues on a daily basis and contacts MMUs, when necessary.



• Monitors bilateral electricity market outcomes for potential structural and operational issues on a daily basis.



• Works with Fuels Market Analysis to develop fundamentals key to fuels market monitoring.



• Maintains liaison with other organizations doing research on market oversight and regulatory policy, including federal and state agencies, academic institutions and think tanks.



• Reviews outside research on policy and industry issues affecting the energy industry activities regulated by the Commission.



• Maintains active working relationship with offices within the Department of Energy (DOE) that gather, process and analyze relevant information (for instance, the Energy Information Administration (EIA) and other policy offices).



• Maintains active outreach efforts with MMUs.



• Reviews and analyzes the State of the Markets reports prepared by the MMUs at Commission direction.



• Directs information received from MMUs to the appropriate parties within the Commission.



• Monitors natural gas, coal and other fuel market outcomes for potential structural and operational issues on a daily basis.



• Works with Electric Market Analysis to develop fundamentals key to electric market monitoring.



• Maintains liaison with other organizations doing research on market oversight and regulatory policy, including federal and state agencies, academic institutions and think tanks.



• Reviews outside research on policy and industry issues affecting the energy industry activities regulated by the Commission.



• Develops cooperative relationships with other organizations that have a strong effect on market (for example, ratings agencies).