Today’s LiveWire Spotlight addresses NERC’s initial draft proposal for an interactive process that helps regulators and industry assess the costs/benefits of implementing a Standards development project. CEAP will establish two budgetary checkpoints which must pass NERC review before further development activity may take place – a rough order-of-magnitude study conducted during the SAR phase and a detailed report compiled after the first posting of the draft Standard.
The initial draft of NERC’s Cost Effective Analysis Process has been posted on the project website for a 60 day review period. Clients have until July 6, 2012 to return comments back to the drafting team.