A Deal is a Deal, No Matter How Small?

摘要

In 2005, Congress amended Section 203 of the Federal Power Act, both to expand FERC's oversight over mergers and acquisitions, and to streamline that oversight by eliminating consideration of small-dollar transactions. Yet, FERC interpreted Section 203 (a) (1) (B) to apply to any merger or consolidation, of any jurisdictional facilities, even those with de minimis financial value. This reading of Section 203(a)(1)(B) has raised questions about whether FERC and industry resources are being used efficiendy to protect the public interest. Much of those resources seem instead to be expended on matters that were once considered, and arguably should continue to be considered, de minimis.