Agency added language to justification 6 and 13 that ensures these justifications are addressed. In addition, Agency provided further details behind burden changes described in justification 15.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
12/31/2011
36 Months From Approved
02/28/2009
211
0
220
245,150
0
250,107
0
0
0
FERC is amending its financial reporting requirements for the quarterly and annual financial reporting forms for public utilities and licensees in RM08-5-000. The Final Rule adopts revised reporting requirements which will enhance the Commission's and customers' review of formula rates; permit better understanding of non-power goods and services transactions with affiliates, and provide additional detail of revenues not previously specified in the Form 1. In addition, the Final Rule will expedite reporting by clarifying Form 1 instructions and cross-references and making technical improvements to the form. Finally, the Final Rule responds to the burden faced by filers by adopting minimum reporting thresholds for certain accounting data, eliminating the reporting requirement for certain utilities that are not otherwise subject FERC's reporting obligations or jurisdiction, and accommodating filers whose fiscal year does not fall in the calendar year that is used for reporting purposes.
The data now reported in the forms does not provide sufficient information to FERC and the public to permit an evaluation of the filers jurisdictional rates. Since the triennial restatement of rates requirement was abolished and pipelines are no longer required to submit this information, the need for current and relevant data is greater than in the past. The information collections proposed in the Final Rule will increase the forms usefulness to both the public and to FERC. Without this information, it is difficult for FERC and the public to perform an assessment of electric utility costs, and thereby help to ensure that rates are just and reasonable.
FERC has determined that dependable, affordable, competitive wholesale energy markets require an adequate infrastructure, balanced market rules, and vigilant oversight. This Final Rule helps in achieving the goal of vigilant oversight by providing FERC with more timely, relevant, reliable and understandable information from jurisdictional participants in the energy markets.
It should be noted that the adjustments to Forms 1, 1-F and 3Q reflect the changing number of companies subject to FERCÂs jurisdiction. With respect to the Form 1-F, the decrease may be due to either companies receiving exemptions from having to file the Form 1-F or have consolidated their reporting because of becoming an affiliate of a parent company who already files the Form 1.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Form FERC-1 Annual Report of Major Public Utilities, Licensees and Others,
RM08-5-000 Form 1 Revisions.doc
Annual Report of Major Public Utilities, Licensees and Others,