host: jon wellinghoff is the chairman of first. -- of ferc. baltimore sun calls him the nation's electricity cop. if you would like to call -- how is the commission paid for? by fees, are paid for not out of the federal budget. it is paid for by fees on users. all the wholesale users of the system pay fees into the system. that constitutes our budget. we have a $300 million per year budget, although i will say we have already collected over that amount in fines from our enforcement actions. we almost paid for ourselves. host: what are the funds given for and how does that work? guest: fines are for things like fraud and manipulation. was a settlement recently in every large case, consolation energy was one of the entities that we did settle a case. -- constellation energy. we believe that there were issues with respect to their activities in the market. they settled for very large amount, over to london million dollars ultimately. is to duty of things. to deter the concept it has to be a big enough fine so it hurts. second, to pay back the amo

then federal regulatory commission chairman jon wellinghoff. later, a look at the latest trends in school crime, violence and safety. -- "washington journal" is live every morning at 7:00 a.m. eastern on c-span. the annual report detailing the fiscal health of social security and medicare is released. today, jack lew and kathleen sebelius lead in the event examining the report. you can see it live starting at 11:00 a.m. eastern on c-span. new york city's police commissioner raymond kelly sat down for a conversation with campbell brown about terrorist plot against new york city reported since 9/11 and what the city is doing to protect itself. this is part of the atlantic magazine's new york ideas festival from early may. it is 20 minutes. >> good morning, everybody. [applause] commissioner kelly, welcome. it's wonderful to have you here. we are going to get right into it. i think we should start with boston. it was a wake-up call for a lot of us. for a lot of us who maybe have taken for granted changes that you made here in new york post- 9/11.

host: jon wellinghoff is the chairman of first. -- of ferc. the baltimore sun calls him the ation's electricity cop. how is the commission paid for? guest: we are paid for by fees, not out of the federal budget. it is paid for by fees on users. all the wholesale users of the system pay fees into the system. that constitutes our budget. we have a $300 million per year budget, although i will say we have already collected over that amount in fines from our enforcement actions. we almost paid for ourselves. host: what are the funds given for and how does that work? guest: fines are for things like fraud and manipulation. was a settlement recently in every large case, consolation energy was one of the entities that we did settle a case. -- constellation energy. we believe that there were issues with respect to their activities in the market. hey settled for very large 200 t, that was over $ million. so intent is to duty of things. to deter the concept it has to be a big enough fine so it hurts. second, to pay back the amount they extracted out of

thullingfrut ever -- then federal regulatory commission chairman jon wellinghoff. then a look at the trends of school violence, crimes and safe the. planty, are my call and nirvi shah. washington journal live every morning at 7:00 eastern. >> when you first arrived four years ago, i'm sure you never imagined that at the end of that time, there would be a lady behind a podium talking to you in a funny accent. this accent has been the bane of my existence until in 19 0 i moved to new york from england and met henry kissinger and he said to me, don't ever worry about your accent. in american public life you can never underestimate the advantages of complete and total incomp rehenceability. >> this weekend, more stories and advice for a new graduating class with commencement speeches from government officials friday neeth at 8:00 eastern, f.b.i. director robert mueller, fed chairman ben bernanke, maryland governor martin o'malley, florida governor rick scott, attorney general eric holder and newtown, connecticut, selectman patricia llodr. c.e.o.'s.y, apple co-founder s