An independent non-profit regulatory organization formed in 2006 to develop and maintain mandatory reliability standards for the bulk power system. NERC succeeds the North American Electric Reliability Council, a self-regulating entity established by the electric utility industry in the 1960s. NERC was certified by the Federal Energy Regulatory Commission (FERC) as the electric reliability organization for North America, subject to oversight by FERC and governmental authorities in Canada. NERC consists of eight regional reliability entities covering the interconnected power regions of the US, Canada, and Mexico, including the Northeast Power Coordinating Council, Texas Reliability Entity, and Midwest Reliability Organization. NERC is authorized under the Energy Policy Act of 2005 and FERC rules to maintain and improve the reliability of the bulk power system by issuing standards and procedures.