With enactment of the Energy Policy Act of 2005, Congressdelivered a mandate to the Federal Energy RegulatoryCommission to establish regulations that would provide forincentive-based rate treatments for investments that wouldimprovement the nation's electric transmission system.That has required FERC to move from merely approvingcost-based rates for transmission services to enacting newregulations that would make it more attractive to invest intransmission infrastructure without offending the "justand reasonable" rate standard.
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