On July 16, the Federal Energy Regulatory Commission (FERC) issued a policy statement providing guidance on the development of smart grid technology for the electric transmission system and adopting an interim rate policy to encourage investment in smart grid technology. According to FERC Chairman Jon Wellinghoff, the new policy statement will “inform and accelerate the smart grid standards development process” while also “providing cost recovery assurances to early moving utilities that invest in smart grid technologies that meet specified criteria.” Read more…