The Federal Energy Regulatory Commission regulates and oversees energy industries in the economic, environmental, and safety interests of the American public. The US federal agency responsible for overseeing the wholesale energy market in the US and regulating interstate trade in electrical energy. Usually referred to as the FERC, this five-member commission was created as part of reorganization of the US Department of Energy in 1977. FERC is responsible for regulating prices, terms and conditions for the sale of energy between states and regions, and works actively with the industry’s transmission sector. FERC is the body which inspects and licenses hydroelectric facilities and enforces the Federal Power Act. FERC also presides over interstate trade in natural gas and management and operation of oil pipelines.