TeachMeFinance.com - explain Federal Power Commission (FPC)
Federal Power Commission (FPC)
The predecessor agency of the Federal Energy Regulatory Commission. The Federal Power Commission was created by an Act of Congress under the Federal Water Power Act on June 10, 1920. It was charged originally with regulating the electric power and natural gas industries. It was abolished on September 30, 1977, when the Department of Energy was created. Its functions were divided between the Department of Energy and the Federal Energy Regulatory Commission, an independent regulatory agency.
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