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» Commission's Responsibilities • Approval of rates for wholesale sales of electricity and transmission in interstate commerce for jurisdictional utilities, power marketers, power pools, power exchanges and independent system operators. • Oversight of the issuance of certain stock and debt securities, assumption of obligations and liabilities, and mergers. • Review of officer and director positions held between top officials at utility companies and certain firms with which they do business. • Review of rates set by the federal power marketing administrations. • Review of exempt wholesale generator status. • Certification of qualifying small power production and cogeneration facilities.