rev5_27_102eb6_and_6QSupState
rev5_27_102eb6_and_6QSupState.doc
FERC Form 6-Q, Quarterly Financial Report of Oil Pipeline Companies
OMB: 1902-0206
FERC Form No. 6 (1902-0022) and FERC Form No. 6-Q (1902-0206)
[updated 5/27/2010]
Supporting Statement for
FERC Form No. 6, Annual Report of Oil Pipeline Companies
(OMB Control No. 1902-0022),
And
FERC Form No. 6-Q, Quarterly Report of Oil Pipeline Companies
(OMB Control No. 1902-0206)
The Federal Energy Regulatory Commission (Commission or FERC) requests that the Office of Management and Budget (OMB) review and approve the FERC Form No. 6 (Annual Report of Oil Pipeline Companies; current expiration date of 6/30/2010) and FERC Form No. 6-Q (Quarterly Report of Oil Pipeline Companies; current expiration date of 7/31/2010), for a three-year period.
Both the FERC Form Nos. 6 and 6-Q are existing Commission data collections, contained in Title 18 Code of Federal Regulations (CFR), Part 357 (Attachment A).
We estimate that the annual reporting burden related to the FERC Form No. 6 will be 26,657 hours. This is an adjustment to the 28,830 hours currently reported on OMB’s inventory. The adjustment of 2,173 hours is due to the more correct method of allocating burden hours for companies filing the FERC Form No. 6.
The FERC Form No. 6-Q is only submitted by oil pipeline carriers who file the full FERC Form No. 6. The total estimated burden for filing the FERC Form No. 6-Q is 63,900 hours. This is an adjustment to the 62,100 hours currently reported on OMB’s inventory. The adjustment increase of 1,800 hours is due to an increase (from 138 to 142) in the number of filers.
There are no changes to the reporting requirements.
A. JUSTIFICATION
1. CIRCUMSTANCES THAT MAKE THE COLLECTION OF INFORMATION NECESSARY
Under the Interstate Commerce Act (ICA), (49 U.S.C. §§ 1, 20, 54 Stat. 916) [Section 20 at Attachment B], the Commission is authorized and empowered to make investigations and to collect and record data to the extent the Commission may consider to be necessary or useful for the purpose of carrying out the provisions of the Interstate Commerce Act (ICA). The information collected under the requirements of the FERC Form Nos. 6 and 6-Q are used by the Commission to carry out its responsibilities in implementing the statutory provisions of the ICA including the authority to prescribe rules and regulations concerning accounts, records and memoranda as necessary or appropriate. The Commission may prescribe a system of accounts for jurisdictional companies and, after notice and opportunity for hearing may determine the accounts in which particular outlays and receipts will be entered, charged or credited.
Financial accounting and reporting provides needed information concerning a
company’s past performance and its future prospects. Without reliable financial statements prepared in accordance with the Commission’s Uniform System of Accounts and related regulations, the Commission would be unable to accurately determine the costs that relate to a particular time period, service or line of business. Additionally, it would be difficult to determine whether a given entity has previously been given the opportunity to recover its costs through rates, or to compare how the financial performance and results of the operations of one regulated entity relates to another.
The FERC Form Nos. 6 and 6-Q also assist the Commission in overseeing and policing the regulated oil pipeline markets to assist in enforcing the ICA.
Historical Background
In 1977, the Department of Energy Organization Act transferred to the Commission from the Interstate Commerce Commission (ICC) the responsibility to regulate oil pipeline companies. In accordance with the transfer of authority, the Commission was delegated the responsibility under Section 20 of the Act to require oil pipelines to file annual reports of information necessary for the Commission to exercise its statutory responsibilities.1 The transfer included the Form P, the forerunner to the FERC Form No. 6 Annual Report of Oil Pipeline Companies (Form 6).2
In 1994, the Commission addressed additional revisions to the FERC Form No.6 in Order Nos. 571 and 571-A, including a new Page 700 Annual Cost of Service Page.
On December 13, 2000, the Commission issued a Final Rule in Docket No. RM99-10-000, Order No. 620, “Revisions to and Electronic Filing of the FERC Form No. 6 and Related Uniform System of Accounts.” The Final rule revised Form No. 6 and the Commission’s regulations in 18 CFR Part 357. These revisions amended the annual filing requirements and raised the minimal filing threshold for the FERC Form No. 6. The Commission also revised the FERC Form No. 6 instructions and schedules to clarify definitions and general instructions, eliminated duplicate reporting requirements, removed and consolidated schedules, updated and revised current schedules. As a result, three tiers, or thresholds based on the last three years of reported operating revenues (as noted below) were created for filing the FERC Form No. 6.
(A) $500,000 and above-must file the full FERC Form No. 6;
(B) $350,000 to $499,999 – must file only the Identification page, Page 301 and Page 700;
(C) Below $350,000 – must file only the Identification page and Page 700.
On February 11, 2004, the Commission issued a Final Rule in Docket No. RM03-8-000 (Order No. 646), “Quarterly Financial Reporting and Revisions to the Annual Reports.” The Commission amended its financial reporting regulations to establish new quarterly financial reporting for respondents that file FERC Annual Reports. As a result, FERC Form No. 6-Q was created to facilitate quarterly filing.
The Final Rule’s purpose was to improve the usefulness and transparency of financial information submitted to the Commission. The increased frequency of financial reporting with the establishment of quarterly reports assists the Commission to identify and evaluate emerging trends, business conditions and financial issues affecting reporting entities.
Commission’s Regulations
Currently, § 357.2 of Title 18 of the Code of Federal Regulations requires:
Each pipeline carrier subject to the provisions of section 20 of the Interstate Commerce Act whose annual jurisdictional operating revenues has been $500,000 or more for each of the three previous calendar years must prepare and file with the Commission copies of FERC Form No. 6, ``Annual Report of Oil Pipeline Companies,'' pursuant to the General Instructions set out in that form. Newly established entities must use projected data to determine whether FERC Form No. 6 must be filed.
Oil pipeline carriers exempt from filing Form No. 6 whose annual jurisdictional operating revenues have been more than $350,000 but less than $500,000 for each of the
three previous calendar years must prepare and file pages 301, ``Operating Revenue Accounts (Account 600),'' and 700, ``Annual Cost of Service Based Analysis Schedule,'' of FERC Form No. 6. When submitting pages 301 and 700, each exempt oil pipeline carrier must include page 1 of Form No. 6, the Identification and Attestation schedules.
Oil pipeline carriers exempt from filing Form No. 6 and pages 301 and whose annual jurisdictional operating revenues were $350,000 or less for each of the three previous calendar years must prepare and file page 700, ``Annual Cost of Service Based Analysis Schedule,'' of FERC Form No. 6. When submitting page 700, each exempt oil pipeline carrier must include page 1 of Form No. 6, the Identification and Attestation schedules.
Beginning in 2006, the annual report and for each year thereafter must be filed on or be April 18.
Currently, Section 357.4 of Title 18 of the Code of Federal Regulations requires:
Each oil pipeline company, subject to the provisions of section 20 of the Interstate Commerce Act and who files the full Form No. 6 must prepare and file with the Commission FERC Form No. 6-Q.
(vii) Beginning in 2006 quarterly financial reports must be filed within 70 days from the end of the reporting quarter.
Section 352 of Title of the Code of Federal Regulations prescribes a system of account which is applicable to all oil pipeline companies subject to the Commission's jurisdiction.
2. HOW, BY WHOM, AND FOR WHAT PURPOSE THE INFORMATION IS TO BE USED AND THE CONSEQUENCES OF NOT COLLECTING THE INFORMATION
The information filed with the Commission is used in the following manner:
Carry out the Commission's regulatory responsibilities and authority. The Commission must ensure just and reasonable rates for transportation of crude oil and petroleum products by pipelines in interstate commerce. The Commission’s Office of Enforcement (OE) uses the FERC Form No. 6 and FERC Form No. 6-Q data collected to assist in the implementation of its financial audits and programs, in the continuous review of the financial condition of regulated companies and in the assessment of energy markets. The Office of Energy Markets Regulation (OEMR) uses the data collected for various rate proceedings and economic analyses. The Office of Administrative Litigation (OAL) uses the data collected for background research for use in litigation. The Office of the General Counsel (OGC) uses the data in its programs relating to the administration of the ICA.
The Office of the Executive Director (OED) uses data on certain schedules of the Form No. 6 to compute annual charges which are then assessed against oil pipeline companies to recover the Commission's annual costs as mandated by Commission Order No. 472. The annual charges are required by Section 3401 of the Omnibus Budget Reconciliation Act of 1986.
The majority of state regulatory commissions use the FERC Form No. 6, FERC Form No. 6-Q and the FERC Uniform System of Accounts to satisfy their reporting requirements for those companies under their jurisdiction.
The public uses the data to assist in monitoring rates, the financial condition of the industry, and in the assessment of energy markets.
The Commission continues to review and modernize its oil regulations with a view toward reducing the burden it places on industry. The ICA mandates the collection of information needed by the Commission to perform its regulatory responsibilities in the setting of just and reasonable rates. The Commission could be held in violation of the ICA if the information was not collected.
3. DESCRIBE ANY CONSIDERATION OF THE USE OF IMPROVED TECHNOLOGY TO REDUCE BURDEN AND TECHNICAL OR LEGAL OBSTACLES TO REDUCING BURDEN.
There is an ongoing effort to determine the potential and value of improved information technology to reduce the burden. Every pipeline carrier subject to the provisions of Section 20 of the ICA must electronically file with the Commission through Commission-provided software. The Commission has made available to all FERC Form No. 6 respondents a web-based, Windows XP/Vista/7-compatible submission software necessary to file electronically through a doorway found on the FERC web site at http://www.ferc.gov/docs-filing/forms/form-6/elec-subm-soft.asp. The Commission requires all FERC Form No. 6 and FERC Form No. 6-Q respondents to use this software and doorway access for filings.
The Commission believes that electronic submission of FERC Form No. 6 and FERC Form No. 6-Q filings yields significant benefits, including more timely analysis and publication of data, increased data analysis capability, reduced cost of data entry and retrieval, simplifying the form design, and overall reduction of the reporting burden.
4. DESCRIBE EFFORTS TO IDENTIFY DUPLICATION AND SHOW SPECIFICALLY WHY ANY SIMILAR INFORMATION ALREADY AVAILABLE CANNOT BE USED OR MODIFIED FOR USE FOR THE PURPOSE(S) DESCRIBED IN INSTRUCTION NO. 2
Filing requirements are periodically reviewed as OMB review dates arise or as the Commission may deem necessary in carrying out its regulatory responsibilities under the Act in an effort to alleviate duplication. All Commission information collections are subject to analysis by Commission staff and are examined for redundancy. There is no other source for this information. To date, no duplication of the proposed data requirements has been found. There are no similar sources of information available that can be used or modified for use for the purpose described in Item A(1).
5. METHODS USED TO MINIMIZE BURDEN IN COLLECTION OF INFORMATION INVOLVING SMALL ENTITIES
By revising the minimum filing threshold for the FERC Form No. 6, the Commission reduced the reporting burden on relatively small companies. Additionally, through the filing thresholds, the Commission raised the operating revenues reporting threshold from $350,000 to $500,000 (see discussion above). The Commission concluded that exempting a certain percentage of oil companies from filing the full FERC Form No. 6 in its entirety will not compromise its ability to gather meaningful data upon which to base its regulation of the oil pipeline industry. These reporting requirements should impose the least possible burden on these companies.
6. CONSEQUENCE TO FEDERAL PROGRAM IF COLLECTION WERE CONDUCTED LESS FREQUENTLY
The Commission is authorized by statute to collect this information on an annual and quarterly basis. If the collection were conducted less frequently, the Commission would be unable to perform its mandated review responsibilities with respect to the assessment of the financial conditions of oil pipeline companies. The continued use of the FERC Form No. 6 and FERC Form No. 6-Q ensures that the Commission has the financial, operational, and ratemaking information needed to carry out its regulatory responsibilities to monitor the oil pipeline industry.
The trend toward more frequent and better financial disclosures has increased in reaction to highly publicized corporate scandals, business failures and the resulting losses incurred by investors and others. In 2002, Congress passed the Sarbanes-Oxley Act to require public companies disclose on a more rapid and current basis additional information on material changes in their financial and operational condition. This information has to be disseminated to the public and investors in language they would clearly understand. As a result of this legislation, dates for periodic reporting of financial information have been accelerated, and principal executive and financial officers must each attest to the validity of the financial and other information contained in the financial reports.
7. EXPLAIN ANY SPECIAL CIRCUMSTANCES RELATING TO THE INFORMATION COLLECTION
The requirements of the FERC Form No. 6 and FERC No. 6-Q meet all of OMB's section 1320.5 requirements.3
8. DESCRIBE EFFORTS TO CONSULT OUTSIDE THE AGENCY: SUMMARIZE PUBLIC COMMENTS AND THE AGENCY'S RESPONSE TO THESE COMMENTS
The Commission's procedures require that the rulemaking notice be published in the Federal Register, thereby allowing all pipeline companies, state commissions, federal agencies, and other interested parties an opportunity to submit comments, or suggestions concerning the proposal. The rulemaking procedures also allow for public conferences to be held as required. On February 1, 2010, a notice of the proposed information collection and request for comments (60-day Notice) was published in the Federal Register (75FR 5061, 2/1/2010).
The Commission received comments from only one commenter, the Bureau of Economic Analysis (BEA), U.S. Department of Commerce. BEA fully endorsed the continued use of the information contained in the FERC Form No. 6, stating that:
“BEA uses FERC tabulations FERC forms 6 and 6Q indirectly. They are used to estimate the U.S. Census Bureau’s Construction Value Put-In Place (VPIP) for oil pipeline utilities. Census VPIP serves as a major source data input to the National Income and Product Account (NIPA) for structures investment estimates. NIPA estimates for electric, gas, and pipeline structures rely upon the VPIP source data. Estimates of utility industry structures investment for the BEA Fixed Assets Accounts relies upon the VIP-based NIPA structures estimates. The FERC Form 6 is used indirectly as well to derive annual pipeline transportation output in the Industry Accounts program. Data obtained by the Industry Accounts from the Association of Oil Pipelines “Shifts in Petroleum Transportation” report is based, in part, on this survey. BEA currently uses this FERC information indirectly through the VPIP program and the trade association, and it is considered an indispensable data source to the NIPA estimates and Industry Accounts estimates.”
The Commission is appreciative of BEA’s continued support for the Commission’s information collection programs.
9. EXPLAIN ANY PAYMENT OR GIFTS TO RESPONDENTS
No payments or gifts have been made to respondents.
10. DESCRIBE ANY ASSURANCE OF CONFIDENTIALITY PROVIDED TO RESPONDENTS
The Commission designed FERC Form No. 6 and Form No. 6-Q in a manner such that all information reported is subject to public access and review and therefore, generally not confidential. Specific requests for confidential treatment to the extent permitted by law will be entertained pursuant to 18 C.F.R. §388.112.
11. PROVIDE ADDITIONAL JUSTIFICATION FOR ANY QUESTIONS OF A SENSITIVE NATURE THAT ARE CONSIDERED PRIVATE.
There are no items of confidentiality or questions of a sensitive nature associated with the data requirements proposed on the FERC Form No. 6 and FERC Form No. 6-Q.
12. ESTIMATED BURDEN OF COLLECTION OF INFORMATION
The annual burden estimate of 26,657 hours for information requirements/ collections under FERC Form No. 6, as proposed, is based on the Commission's recent experience with filings of the complete Form 6, and pages 1, 301 and 700. The annual burden estimate of 63,900 hours for information requirements/ collections under FERC Form No. 6-Q, as proposed, is based on the Commission's recent experience with filings of the complete Form 6-Q.
A detailed summary of FERC Form Nos. 6 and 6-Q burden estimates is shown below:
CURRENT OMB NEW OMB
DATA REQUIREMENT (FERC Form No. 6) INVENTORY INVENTORY
Estimated
Full Form No. 6 number of respondents: 155 142
Estimated number of responses per respondent: 1 1
Estimated number of responses per year : 155 142
Estimated number of hours per response : 186 186
Total estimated burden (hours per year) : 28,830 26,412
Form No 6, Pages 301 and 700 respondents 0 1
Estimated number of responses per respondent: 0 1
Estimated number of responses per year 0 1
Estimated number of hours per response 0 15
Total estimated burden (hours per year) : 0 15
Form No 6, Page 700 respondents 0 23
Estimated number of responses per respondent: 0 1
Estimated number of responses per year 0 23
Estimated number of hours per response 0 10
Total estimated burden (hours per year) 0 230
Total estimated burden hours for Form No.6 26,657
Form No. 6
Program change in industry burden hours : 0
Adjustment change in industry burden hours: -2,173
The number of Form 6 respondents increased from 155 to 166, but 24 of those respondents are completing a far reduced amount of data (15 hours or 10 hours per response, rather than the 186 estimated hours required to respond to a complete Form 6).
Please note that the approach of using three thresholds for respondents of the FERC Form 6 was implemented in Order No. 620 (issued 12/13/2000) in Docket No. RM99-10. It was a program reduction at that time to ease the filing burdens of the smaller entities. However FERC has not detailed the burdens associated with those tiers of filing responsibilities and, until this submittal, has not reflected that ‘program reduction’ in the burden estimates given to OMB. Because 9 years have passed since Commission Order 620, we are simply calling the burden change a ‘re-estimate’ (rather than a program change).
Form No. 6-Q
CURRENT OMB NEW OMB
DATA REQUIREMENT (FERC Form No. 6-Q) INVENTORY INVENTORY
Number of respondents: 138 142
Estimated number of responses per respondent: 3 3
Estimated number of responses per year : 414 426
Estimated number of hours per response : 150 150
Total estimated burden (hours per year) : 62,100 63,900
Form No. 6-Q
Program change in industry burden hours: 0
Adjustment change in industry burden hours: +1,800
The number of Form 6Q respondents changed from 138 to 142; similarly the total burden changed from 62,100 to 63,900 (an increase of 1,800 hrs.).
13. ESTIMATE OF TOTAL ANNUAL COST BURDEN TO RESPONDENTS
The estimated, annual cost to the respondents, averaged over the next three years follows.
FERC Data Collection |
Total Annual Burden Hours (1) |
Estimated Hourly Cost ($) (2) |
Estimated Total Annual Cost to Respondents ($) (2) X (1) |
FERC Form No. 6 (Complete form) |
26,412 |
$66.294 |
$1,750,8515 |
FERC Form No. 6 (Pages 1, 301, and 700 only) |
15 |
$66.29 |
$994 |
FERC Form No.6 (Pages 1 and 700 only) |
230 |
$66.29 |
$15,247 |
FERC Form No. 6-Q |
63,900 |
$66.29 |
$4,235,931 |
The average cost per respondent for Form No. 6 is $10,645 (rounded off).
The average cost per respondent for Form No. 6-Q is $29,831 (rounded off)
14. ESTIMATED ANNUALIZED COST TO FEDERAL GOVERNMENT
The estimated annualized cost to the Federal government related only to the data
collections/requirements are shown below:
Data Analysis of Estimated FERC Forms Total Cost of
Requirement Data6 Salary Clearance One Year's
Number (FTEs) Per Year Per Year = Operation
FERC Form No. 6 .5 x $137,874 + $ 1,528 $70,465
FERC Form 6-Q .5 x $137,874 + $1,528 $70,465
Total $140,930
15. REASONS FOR CHANGES IN BURDEN INCLUDING THE NEED FOR ANY INCREASE
The reason for the change in the reporting burden is the revised and more accurate allocation of hours amongst the three reporting tiers/levels of Form No. 6, and a change in the number of filers completing the entire Form No. 6 and the Form No. 6-Q.
The number of Form 6 respondents increased from 155 to 166, but 24 of those respondents are completing a far reduced amount of data (15 hours or 10 hours per response, rather than the 186 estimated hours required to respond to a complete Form 6). [Please note that the approach of using three thresholds for respondents of the FERC Form 6 was implemented in Order No. 620 (issued 12/13/2000) in Docket No. RM99-10. It was a program reduction at that time to ease the filing burdens of the smaller entities. However FERC has not detailed the burdens associated with those tiers of filing responsibilities and, until this submittal, has not reflected that ‘program reduction’ in the burden estimates given to OMB. Because 9 years have passed since Commission Order 620, we are simply calling the burden change a ‘re-estimate’ (rather than a program change).]
The number of Form 6Q respondents increased from 138 to 142 (the 142 respondents who also respond to a complete Form 6); the total burden similarly changed.
16. TIME SCHEDULE FOR PUBLICATION OF DATA
The information furnished in the FERC Form No. 6 is available for public inspection at the FERC website (http://www.ferc.gov/docs-filing/forms.asp#6). Each pipeline company, subject to the provisions of Section 20 of the ICA, must file the FERC Form No. 6 on or before April 18 of the year following the year covered by this report. The data are not collected for the purposes of a publication; rather they are collected for regulatory purposes.
17. DISPLAY OF THE EXPIRATION DATE
The FERC Form Nos. 6 and 6-Q display both the OMB control number and the expiration date. This information is displayed in the upper right-hand corner of the cover page in the appropriate electronic versions for these forms.
18. EXCEPTIONS TO THE CERTIFICATION STATEMENT
There is an exception to the Paperwork Reduction Act Submission Certification. Because the data collected for this reporting requirement is not used for statistical purposes, the Commission does not use as stated in item 19(j) "effective and efficient statistical survey methodology." The information collected is case specific to each respondent.
B. COLLECTION OF INFORMATION EMPLOYING STATISTICAL METHODS
These are not collections of information employing statistical methods.
Attachment A
The specific reporting requirements related to FERC Form No. 6 appear in 18CFR Part 357.2. The specific reporting requirements related to FERC Form No. 6 appear in 18CFR Part 357.4. A hyperlink to a blank FERC Form 6 is as follows: FERC Form 6. A hyperlink to a blank FERC Form 6-Q is as follows: FERC Form 6-Q.
Title 18: Conservation of Power and Water Resources
PART 357_ANNUAL SPECIAL OR PERIODIC REPORTS: CARRIERS SUBJECT TO PART I OF THE INTERSTATE COMMERCE ACT--Table of Contents
Sec. 357.2 FERC Form No. 6, Annual Report of Oil Pipeline Companies.
(a) Who must file. (1) Each pipeline carrier subject to the
provisions of section 20 of the Interstate Commerce Act whose annual
jurisdictional operating revenues has been $500,000 or more for each of
the three previous calendar years must prepare and file with the
Commission copies of FERC Form No. 6, ``Annual Report of Oil Pipeline
Companies,'' pursuant to the General Instructions set out in that form.
Newly established entities must use projecteddata to determine whether
FERC Form No. 6 must be filed.
(2) Oil pipeline carriers exempt from filing Form No. 6 whose annual
jurisdictional operating revenues have been more than $350,000 but less
than $500,000 for each of the three previous calendar years must prepare
and file pages 301, ``Operating Revenue Accounts (Account 600),'' and
700, ``Annual Cost of Service Based Analysis Schedule,'' of FERC Form
No. 6. When submitting pages 301 and 700, each exempt oil pipeline
carrier must include page 1 of Form No. 6, the Identification and
Attestation schedules.
(3) Oil pipeline carriers exempt from filing Form No. 6 and pages
301 and whose annual jurisdictional operating revenues were $350,000 or
less for each of the three previous calendar years must prepare and file
page 700, ``Annual Cost of Service Based Analysis Schedule,'' of FERC
Form No. 6. When submitting page 700, each exempt oil pipeline carrier
must include page 1 of Form No. 6, the Identification and Attestation
schedules.
(b) When to file. (1) The annual report for the year ending December
31, 2004, must be filed on April 25, 2005.
(2) The annual report for each year thereafter must be filed on
April 18 of the subsequent year.
(c) What to submit. (1) This report form must be filed as prescribed
in Sec. 385.2011 of this chapter and as indicated in the General
Instructions set out in the report form, and must be properly completed
and verified.
(2) A copy of the report must be retained by the pipeline carrier in
its files. The conformed copies may be produced by any legible means of
reproduction.
(3) The form must be filed in electronic format only pursuant to
Sec. 385.2011 of this chapter, beginning with report year 2002, due on
or before March 31, 2003.
[Order 620, 65 FR 81344, Dec. 26, 2000, as amended by Order 628, 68 FR
269, Jan. 3, 2003; 69 FR 9044, Feb. 26, 2004]
Sec. 357.4 FERC Form No. 6-Q, Quarterly Report of Oil Pipeline Companies.
(a) Prescription. The quarterly financial report form of oil
pipeline companies, designated as FERC Form No. 6-Q, is prescribed for
the reporting quarter ending March 31, 2004, and each quarter
thereafter.
(b) Filing requirements--(1) Who must file. Each oil pipeline
company, subject to the provisions of section 20 of the Interstate
Commerce Act, must prepare and file with the Commission FERC Form No. 6-
Q.
(2) When to file and what to file. This quarterly financial report
form must be filed as follows:
(i) The quarterly financial report for the period January 1 through
March 31, 2004, must be filed on or before July 23, 2004.
(ii) The quarterly financial report for the period April 1 through
June 30, 2004, must be filed on or before September 22, 2004.
(iii) The quarterly financial report for the period July 1 through
September 30, 2004, must be filed on or before December 23, 2004.
(iv) The quarterly financial report for the period January 1 through
March 31, 2005, must be filed on or before June 13, 2005.
(v) This report must be filed as prescribed in Sec. 385.2011 of
this chapter and as indicated in the General Instructions set out in the quarterly report
form, and must be properly completed and verified. Filing on electronic
media pursuant to Sec. 385.2011 of this chapter will be required
commencing with the reporting quarter ending March 31, 2004, due on or
before
(vi) The quarterly financial report for the period April 1 through
June 30, 2005, must be filed on or before September 12, 2005.
(vii) Subsequent quarterly financial reports must be filed within 70
days from the end of the reporting quarter.
(viii) The quarterly financial report for the period July 1 through
September 30, 2005 must be filed on or before December 13, 2005.
Attachment B
The relevant section of the statute, Interstate Commerce Act is Section 20. The specific section follows.
Attachment C
Links to Sample Filings of FERC-6 and 6-Q
The following links are to sample filings available in FERC’s eLibrary (http://www.ferc.gov/docs-filing/elibrary.asp).
|
Category/ |
Doc
Date/ |
Description |
Class/ |
|
||||||
Submittal |
04/09/2010 |
Point
Arguello Pipeline Company submits FERC Form 6 Annual Report of
Oil Pipeline Companies for the year ending 2009. |
Report/Form / |
|
||||||
Submittal |
04/09/2010 |
Butte
Pipe Line Company submits FERC Form 6 Annual Report of Oil
Pipeline Companies for the year ending 2009. |
Report/Form / |
|
||||||
Submittal |
04/08/2010 |
Total
Petrochemicals Pipeline USA Inc. submits revised FERC Form 6
Annual Report of Oil Pipeline Companies for the year ending
2008. |
Report/Form / |
|
||||||
Submittal |
04/08/2010 |
Total
Petrochemicals Pipeline USA Inc. submits revised FERC Form 6
Annual Report of Oil Pipeline Companies for the year ending
2008. |
Report/Form / |
|
||||||
Submittal |
04/08/2010 |
Total
Petrochemicals Pipeline USA Inc. submits revised FERC Form 6
Annual Report of Oil Pipeline Companies for the year ending
2008. |
Report/Form / |
|
||||||
Submittal |
04/08/2010 |
West
Texas Gulf Pipe Line Company submits FERC Form 6 Annual Report of
Oil Pipeline Companies for the year ending 2009. |
Report/Form / |
|
|
Category/ |
Doc
Date/ |
Description |
Class/ |
|
||||||
Submittal |
01/20/2010 |
Total
Petrochemicals Pipeline USA Inc. submits FERC Form 6Q Quarterly
financial report of oil pipeline companies for
2009/Q3. |
Report/Form / |
|
||||||
Submittal |
01/07/2010 |
Western
Refining Pipeline Company submits FERC Form 6Q Quarterly
financial report of oil pipeline companies for
2009/Q3. |
Report/Form / |
|
||||||
Submittal |
12/16/2009 |
Inland
Corporation submits FERC Form 6Q Quarterly financial report of
oil pipeline companies for 2009/Q3. |
Report/Form / |
|
||||||
Submittal |
12/16/2009 |
Amoco
Capline Pipeline Company submits FERC Form 6Q Quarterly financial
report of oil pipeline companies for 2009/Q3. |
Report/Form / |
|
||||||
Submittal |
12/16/2009 |
BP
Oil Pipeline Company submits FERC Form 6Q Quarterly financial
report of oil pipeline companies for 2009/Q3. |
Report/Form / |
|
1 Section 402(b) of the Department of Energy Organization Act (DOE Act), 42 U.S.C. 7172 provides that; "[t]here are hereby transferred to, and vested in, the Commission all functions and authority of the Interstate Commerce Commission or any officer or component of such Commission where the regulatory function establishes rates or charges for the transportation of oil by pipeline or established the valuation of any such pipeline."
2 The ICC developed the Form P to collect information on an annual basis to enable it to carry out its regulation of oil pipeline companies under the Interstate Commerce Act. A comprehensive review of the reporting requirements for oil pipeline companies was performed on September 21, 1982, when the Commission issued Order 260 revising the former ICC Form P, "Annual Report of Carriers by Pipeline" and redesignating it as FERC Form No. 6, "Annual Report of Oil Pipeline Companies”.
3 5 C.F.R. § 1320.5 (1995).
4 Using 2,080 hours/year, the estimated cost for 1 full-time employee is $137,874/year. The estimated hourly cost is $66.29 (or $137,874/2,080).
5 The estimated annual totals for all filers completing all or part of the FERC Form No. 6 are: 166 filers and 26,657 hours or a cost of $1,767,092.
6 An "FTE"is a "Full time Equivalent" employee that works the equivalent of 2,080 hours per year, at a cost of $137,874 per year.
| File Type | application/msword |
| File Title | Supporting Statement for |
| Author | Michael Miller |
| Last Modified By | Ellen Brown |
| File Modified | 2010-05-27 |
| File Created | 2010-05-27 |
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