FERC took the first step in starting a formal rulemaking proceeding involving the five groups of smart grid standards identified by NIST as ready for consideration. The NIST standards are the first of what may be several hundred more to be identified for FERC consideration in the coming years. The Energy Independence and Security Act of 2007 (EISA) requires FERC to adopt in a formal rulemaking proceeding standards and protocols necessary to ensure smart grid functionality and interoperability in interstate transmission of electric power, and regional and wholesale electricity markets.