Load Forecasting Enhancement Act

The "Load Forecasting Enhancement Act" mandates the Federal Energy Regulatory Commission (FERC) to establish regional joint boards within 90 days of enactment. These boards will be tasked with studying and identifying best practices for electric load forecasting across the United States, ensuring every state is included in a region. Each board will comprise representatives from state commissions within its region and a FERC member who will serve as chair. The joint boards' duties include examining various issues related to load forecasting, such as its effects on affordability and reliability of electric service, data collection and modeling methods, transparency, stakeholder engagement, and the impact of economic development. They will also evaluate requests from large industrial or commercial facilities. After identifying best practices, the boards will report their findings to FERC, which must then publish and submit a report to Congress within one year, including recommendations for consistent implementation of these practices by electric utilities nationwide. Furthermore, the bill amends the Public Utility Regulatory Policies Act of 1978 (PURPA) by adding a new standard requiring electric load forecasting procedures to incorporate FERC's recommendations. State regulatory authorities are mandated to consider and make determinations regarding this new standard within two years, though non-regulated electric utilities are exempt. The legislation also updates the Energy Policy and Conservation Act , requiring State Energy Conservation Plans to include procedures and programs aimed at improving the accuracy, oversight, and transparency of electric load forecasting by electric utilities.