What is the purpose of the NERC's data reporting requirements?

The purpose of NERC's data reporting requirements is to ensure accurate measurements and reporting of system reliability. This is essential for maintaining the stability and reliability of the electric grid. By requiring utilities to report data consistently and accurately, NERC can better assess the overall health of the power system, identify potential risks, and take proactive measures to mitigate them. Accurate data is crucial for monitoring performance, making informed decisions, and developing strategies to prevent outages or failures in the electrical system. This focus on reliability helps protect consumers and supports the efficient operation of the electric power grid.

The other options mention aspects such as competition, cost reduction, or managing disputes, but these are not primary aims of NERC's data reporting requirements. Instead, the emphasis is on creating a reliable and safe electric power system through precise data collection and reporting protocols.