Download or read book NERC Today and Tomorrow written by Zhen Zhang and published by . This book was released on 2014 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Only since 2007 have the participants of the bulk power system began to deal with reliability standards as mandatory standards with the potential for million dollar fines. The regulated entities therefore must understand the regulatory regime to ensure the reliability of the electric system and also minimize the negative consequences of noncompliance. Yet it is just as important for attorneys, legislators and policy makers to have a basic understanding of this complex regulatory regime so that all participants can support the electric industry meaningfully. This article begins with the historical events that lead to the development of mandatory reliability standards and the regulatory regime's organizational players: the Federal Energy Regulatory Commission, the North American Electric Reliability Corporation, and the Regional Entities. The article then discusses the composition of the standards and the procedures for compliance, enforcement, and the administrative process. The article concludes with the future challenges facing the North American Electric Reliability Corporation especially and the Federal Energy Regulatory Commission and Regional Entities generally, as well as the effectiveness of the standards. This article aims to provide comprehensive but succinct information to anyone interested in the mandatory reliability regulatory regime and how it operates in practice.