The Load Forecasting Enhancement Act requires the Federal Energy Regulatory Commission to establish regional joint boards within 90 days to study how electric utilities forecast power demand. Each joint board will include representatives from state utility commissions in that region and an FERC member who serves as chair, and will examine best practices for improving the accuracy, reliability, and transparency of load forecasting across various factors including data collection methods, economic development projections, and large commercial facility needs. Within one year, FERC must report to Congress on these best practices and recommend consistent standards for utilities to adopt across states. The bill also establishes a new federal standard requiring state regulatory authorities to consider these load forecasting best practices within one year and complete their review within two years, with exemptions for states that have already implemented comparable standards. The joint boards will automatically dissolve after FERC submits its report to Congress.
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