The overall transition known as “restructuring” in the electricity industry reflects a shift from a monopolistic to a more competitive industry. The electric utility industry was considered one of the nation’s most regulated industries, with states regulating utilities’ retail or intrastate activities and the federal government regulating utilities wholesale or interstate transactions. In the past, electricity service providers enjoyed a natural monopoly, providing electricity generated by their plants, transmitted over their power lines, and distributed to their customers. Two key factors led that monopolistic structure to move toward a more competitive marketplace. First, new technologies reduced the cost and size of generating electricity effectively. Currently, there is a preference for small-scale production facilities that can be brought on-line more quickly and cheaply with fewer regulatory impediments. Second, federal changes were made in the industry’s regulation. Specifically, the enactment of the Public Utility Regulatory Policies Act (PURPA) of 1978 initiated the process for a transition or restructuring to a freer electric power market by requiring utilities to buy electricity produced by nonutility producers. Then in 1992, the Energy Policy Act (EPACT) was enacted and removed several regulatory barriers to entry into electricity generation and promoted further competition. Restructuring is underway for wholesale markets, which involve the sale of electricity for resale. It is also underway for some retail sales to end users, which include residential, commercial, industrial, and other consumers. Federally regulated wholesale power markets already provide market-based prices. States, however, vary greatly in their response to restructuring: some states have introduced competition to the retail markets in their states, others have begun to restructure but then delayed or suspended these efforts, and others still have taken no steps to restructure their markets. As the industry adapts to restructuring, many utilities are facing greater competition from nonutilities and other new entities such as power marketers. The introduction of competition has considerably expanded the number and types of business arrangements involving generation and transmission of electricity. In addition, proposals for new regulatory structures to oversee the new industry are emerging. FERC and EIA are the two leading entities for the collection, analysis, and evaluation of electric power information. FERC collects information to assure just and reasonable rates on the basis of costs. FERC also collects and obtains information from other federal and nonfederal sources to monitor and regulate competitive markets for wholesale electricity to similarly determine if these prices are just and reasonable. EIA is mandated to collect, assemble, evaluate, analyze, and disseminate energy data and energy information for the Congress, the federal government, the states, and the public. The Federal Power Act (FPA) of 1935, PURPA, and EPACT drive FERC’s information collection activities. FPA authorizes FERC to collect and record information to the extent it deems necessary and to prescribe rules and regulations concerning accounts, records, and memoranda. In general, FPA provides for federal oversight of interstate transmission and wholesale sales by public utilities. Forty-three years later, the Congress enacted PURPA in response to the unstable energy climate of the late 1970s. PURPA authorizes FERC to collect information on the basic cost and quality of fuels at electric generating plants. FERC uses such data to conduct fuel reviews and rate investigations and to track market changes and trends. In addition, PURPA requires public utilities to report on electric energy shortages and contingency plans to FERC and appropriate state agencies. In 1992, the Congress enacted EPACT. EPACT created a new category of power sellers called exempt wholesale generators that are not subject to regulation under the Public Utility Holding Company Act (PUHCA), which governs how utilities can be legally organized. These power sellers must apply to FERC for PUHCA exemption. Legislation created EIA and defined its information collection activities. In 1974, the Congress enacted the Federal Energy Administration Act that created the Federal Energy Administration. The act mandated the Federal Energy Administration to collect, assemble, evaluate, and analyze energy information for the federal government, state governments, and the public and provided it with information collection enforcement authority for gathering information from energy producing and consuming firms. Two years later, the Energy Conservation and Production Act established the Office of Energy Information and Analysis, mandating it to operate a comprehensive National Energy Information System; possess expertise in energy analysis and forecasting; coordinate information activities with federal agencies; promptly provide upon request any energy information to any duly established committee of the Congress; and make periodic reports on the energy situation and trend to the Congress. In 1977, by enacting the Department of Energy Organization Act, the Congress established EIA as the federal authority for energy information. This act gave EIA independence to collect energy data and report energy information, including all the provisions of its predecessor, and established an annual survey to gather and report detailed energy industry financial data. In 1992, EPACT required EIA to expand its data gathering and analysis in several areas, including energy consumption, alternative-fueled vehicles, greenhouse gas emissions, fossil fuel transportation rates and distribution patterns, electricity production from renewable energy sources, and foreign purchase and imports of uranium. Federal agencies’ information collection activities are subject to the Paperwork Reduction Act. The purpose of the Paperwork Reduction Act is to minimize the paperwork burden for all individuals and entities that must report information to the federal government. The Office of Management and Budget (OMB) oversees governmental initiatives to reduce the paperwork burden and improve the management of information resources. The Paperwork Reduction Act requires federal agencies to submit their data collection tools to OMB for review. OMB is also responsible for the implementation of the Government Paperwork Elimination Act, which requires federal agencies, by October 21, 2003, to allow individuals, or entities that interact with the agencies, the option of submitting information to agencies electronically, whenever practicable. The North American Electric Reliability Council (NERC) is one of the most important nonfederal entities that collect data from the electricity industry. NERC, formed as a result of a devastating outage in the northeast during November 1965, was established to promote the reliability of the interconnected electric power system. NERC membership is voluntary, consists of representatives from utilities across North America, and provides a forum for the electric utility industry to develop policies, standards, and guidelines designed to ensure reliability. One of its key functions is to collect information from its members, among other things, on power plant operations and outages. NERC reports information in an aggregated format to protect information its members consider sensitive. Federal agencies collect three types of electricity-related information for widely varying purposes in accordance with their different missions. Some agencies such as FERC, EIA, RUS, SEC, and EPA collect information on an ongoing, regular basis, using forms or form-like surveys. However, there is a time differential between the reporting period, when the information is collected and when an agency reports the information. As a result, the information usually does not reflect current market conditions. Restructuring has led to a greater need for a second type of information, focusing on current activities, for purposes of monitoring by FERC in particular. Third-party sources, such as Bloomberg’s Professional Services, provide current and historical information on regional electricity and gas markets, including spot and future prices, market commentary, plant outage information, and energy news. Investigations create a need for a third type of information, when an agency such as the Department of Justice gathers information mainly in conjunction with specific company criminal investigations. To meet their missions, agencies collect a wide variety of electricity-related information. FERC and EIA are the primary gatherers of such information while other agencies, such as the Federal Trade Commission, have gathered information only for occasional reports. As shown in figure 1, FERC, DOE’s EIA and Office of Fossil Energy, RUS, and EPA specifically collect information related to generation, transmission, and/or distribution functions of electric power. FERC, EIA, and RUS collect information related to all three of these functions. In addition, EIA collects end-user information such as residential, commercial, and industrial usage. Additionally, DOE’s Office of Fossil Energy is the only office that collects information related to electricity imports and exports. Finally, EPA collects emissions information related to the generation of power. The following graphic depicts federal agency information collections within these functions. FERC, an independent regulatory agency, was established in 1977 as a successor to the Federal Power Commission. In addition to regulating and overseeing the interstate transmission and interstate wholesale sales of natural gas and electricity, FERC regulates the interstate transmission of oil by pipeline; licenses and inspects private, municipal, and state hydroelectric projects; and approves site choices as well as decisions to abandon interstate pipelines and related facilities no longer in use. In responding to this mission, FERC stated that it chooses regulatory approaches that foster competitive markets whenever possible, assures access to reliable service at a reasonable price, and gives full and fair consideration to environmental and community impacts in assessing the public interest of energy projects. Among its other duties, it reviews the rates set by the four federal power marketing administrations. FERC does not have legislative authority over electricity generation siting, construction of transmission lines, intrastate transmission, or retail sales, all of which fall under state or local jurisdiction. FERC also has no direct authority over system reliability—that is, ensuring that consumers can obtain electricity from the system, when, and in the amount, they want. Furthermore, FERC’s jurisdiction extends primarily to investor-owned utilities. FERC generally does not have jurisdiction over federally owned utilities, publicly owned utilities, or most cooperatively owned utilities. In 2000, FERC created the Office of Markets, Tariffs, and Rates, which was until recently responsible for regulating and overseeing competitive energy markets.