Electricity Regulation: Issues Concerning the Hydroelectric Project Licensing Process

Pursuant to a congressional request, GAO examined the: (1) Federal Energy Regulatory Commission's (FERC) review of the financial and economic feasibility of proposed hydroelectric projects during its licensing process; (2) extent of speculation on potential hydropower sites; and (3) possible need to amend the Federal Power Act to allow licensees more time to arrange financing and commence construction of licensed projects.