This bill creates regional boards to study and improve how electricity demand is forecasted, aiming to enhance the reliability and affordability of electric service.
Load Forecasting Enhancement Act This bill requires the Federal Energy Regulatory Commission (FERC) to establish regional boards to study and recommend best practices for electric load forecasting, which is the process of predicting the demand for electricity at a particular time. It also requires states to consider adopting the recommendations. Specifically, the bill directs FERC to establish regional boards to study electric load forecasting, chair the boards, and run them jointly with each state public utility commission in the regions. The boards must (1) study issues relevant to identifying best practices for electric load forecasting that enhance the reliability and affordability of electric service to customers, and (2) identify such best practices. FERC must make recommendations to Congress for the consistent use across states of such best practices by electric utilities. The bill also modifies provisions under the Public Utility Regulatory Policies Act to require state public utility commissions to consider adopting those recommendations. It also modifies the Energy Policy and Conservation Act to make federal assistance for state energy conservation plans contingent upon the plan including procedures and programs to improve the accuracy, oversight, and transparency to stakeholders of the forecasting of electric loads by electric utilities.