At the end of last year, FERC issued two final orders adopting
the latest NAESB Business Practice Standards for the natural
gas and electric industries that will enhance market efficiency
and cybersecurity protections, among other things.
On February 19, 2024, FERC issued Order No. 676-K, incorporating
WEQ Version 004 into its regulations. This update
strengthens cybersecurity protections, streamlines commercial
scheduling, and enhances coordination with FERC’s pro forma
Open Access Transmission Tariff (OATT). Public utilities must
submit compliance filings within 120 days of publication in the
Federal Register, with cybersecurity requirements taking effect
12 months after publication, and all other standards 18 months
thereafter. [REGULATIONS]
On November 22, 2024, FERC issued Order No. 587-AA,
adopting WGQ Version 4.0 to improve cybersecurity and operational
efficiency in the wholesale gas market. Key updates include
multi-factor authentication, whitelisting guidance, streamlined
reporting for capacity release and invoicing, and new addendums
for certified gas and renewable natural gas transactions.
Compliance filings for interstate natural gas pipelines are
due by February 3, 2025, with implementation required by August
1, 2025. [REGULATIONS]
Both orders will take effect 60 days after publication in the Federal
Register.
Richard "Dick" Brooks
Expert Member
Top Contributor