Load Forecasting Enhancement Act

The Load Forecasting Enhancement Act requires the Federal Energy Regulatory Commission to create regional joint boards made up of state commission representatives and a commission member to study how electric utilities predict energy demand. These boards will investigate methods to improve the accuracy and transparency of these forecasts to ensure reliable and affordable electricity service, then report their findings to Congress within a year. Once the report is submitted, the law mandates that state regulators incorporate these recommended forecasting standards into their oversight of electric utilities, while exempting nonregulated utilities from certain requirements. Additionally, the bill updates existing energy laws to include procedures for improving the accuracy and transparency of load forecasting in state energy conservation plans.