William F. Hederman Jr., a former executive of Columbia Gas Transmission and energy consultant, has been named the first director of FERC’s new Office of Market Oversight and Investigations.

Hederman, who has more than 25 years of experience in the energy business, assumed his position last week, according to the Commission. With the new office, FERC plans to carry out “more vigilant” monitoring of regulated energy markets.

Most recently, Hederman was a consultant to the energy and financial industries at LECG, a consulting group founded by prominent academics in the antitrust area. He was vice president of Columbia Gas Transmission from 1998 to 2001, and prior to that he served as executive director and board member of the International Centre for Gas Technology Information. Hederman also set up the Washington office of R.J. Rudden Associates Inc.

The new office is expected to have a staff of 50 people to monitor markets, including a multi-disciplinary team of economists, auditors, lawyers and financial analysts. If market abuses are found, it could take energy companies to district court, a staff member said previously, but she noted this action would be a rarity.

The Commission has been sharply criticized in the past for its lack of aggressiveness in overseeing energy markets. But FERC Chairman Pat Wood has indicated that he plans to implement a get-tough policy with abusers.

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