WASHINGTON, May 30 (UPI) -- Federal Energy Regulatory Commission Chairman Jon Wellinghoff plans to resign but will stay in office until a replacement is named, his office said.
"The White House has indicated they would like him to stay until his replacement is nominated and confirmed by the Senate; he has agreed to do so," an unnamed official from the agency told Washington publication The Hill.
Senate Energy and Natural Resources Committee Chairman Ron Wyden, D-Ore., said Wellinghoff will be missed.
"Under Chairman Wellinghoff's leadership, FERC launched important investigations to protect consumers against traders and financial firms who manipulated energy markets," Wyden said in a statement. "He deserves credit for championing efforts to increase America's renewable energy supply."
FERC Energy Director Jeff Wright told lawmakers in April that he favored legislation that would make it easier to develop hydropower resources.
FERC is also reviewing potential terminals for liquefied natural gas. Wyden said he favored LNG exports provided the policies are in place to protect national security and domestic prices.
FERC last month announced it was moving to strengthen cybersecurity standards to help ensure the protection of the U.S. electrical grid.
Wellinghoff's four-year term expires June 30.
