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The August 14, 2003 blackout is expected to have a significant impact on the North American Electric Reliability Council's (NERC) reliability standards. The voluntary compliance and peer pressure NERC depended on for years to ensure compliance to its reliability rules are no longer sufficient to ensure reliable performance. The performance standards also need to be objective and measurable, and they must be developed in an open, inclusive, balanced and fair manner. The process also needs to be able to accommodate market solutions and business practices. NERC's new standards process is intended to establish standards necessary for reliable system operation and acceptable to industry participants. In the meantime, while new or revised reliability standards are being developed, NERC's existing planning standards and operating policies continue to be in effect until they are replaced by the new reliability standards.