### Question
How does the law define ratemaking authority?


### Answer
Under *16 U.S.C. § 2602*, **ratemaking authority** is defined as:

> authority to fix, modify, approve, or disapprove rates

#### Citation:
  - *16 U.S.C. § 2602*
  - Heading: **CHAPTER 46-PUBLIC UTILITY REGULATORY POLICIES**

