FERC-3Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies, (RM07-9-003 NOPR)

Forms and Documents

Document Name	Status
Form FERC-3Q FERC-3Q [gas], Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies, Form	Modified
Support Statement from RM07-9-003 6172010.doc Supporting Statement A	2010-06-23

IC Document Collections

IC ID	Document Title	Status
23250	FERC-3Q [gas], Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies, Form	Modified

ICR Details

OMB Control No: 1902-0205	ICR Reference No: 201006-1902-004
Status: Historical Inactive	Previous ICR Reference No: 200810-1902-007
Agency/Subagency: FERC	Agency Tracking No: FERC Form 3-Q
Title: FERC-3Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies, (RM07-9-003 NOPR)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 08/17/2010
	Date Received in OIRA: 06/23/2010
Terms of Clearance: Comment filed on proposed rule; agency to address at final rule stage.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	36 Months From Approved	01/31/2012
Responses	1,074	0	1,074
Time Burden (Hours)	177,177	0	177,177
Cost Burden (Dollars)	0	0	0

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Abstract: In response to a court remand of Order Nos. 710 and 710-A, the Commission is granting a motion by the American Gas Association (AGA) requesting that the Commission issue a Notice of Proposed Rulemaking (Notice) proposing that the Commission revise FERC Form Nos. 2, 2-A, and 3-Q, to include functionalized fuel data on pages 521a through 521d of those forms, and to include on such forms the amount of fuel waived, discounted or reduced as part of a negotiated rate agreement. We also propose to revise page 520 accordingly. Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies," requires companies to file with the Commission a complete set of quarterly financial statements. Most of the information contained in these forms is the same information currently submitted on an annual basis. Quarterly reporting of financial information permits the Commission to better understand trends and other factors that may affect an entity's liquidity position, its commitments of capital expenditures, its sources of financing, along with changes in the amount of assets, liabilities, debt and equity used in its business. Transparent accountings and more frequent financial reporting play an important role in achieving vigilant oversight of market participants. More frequent financial reporting provides needed insight into the opportunities and risks facing the energy industry as the Commission considers and assesses the affects of its regulatory initiatives. The Commission shares the view that quarterly reporting enhances its overall decision making process by providing more timely, useful and relevant data to the decision making process.

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Authorizing Statute(s): US Code: 16 USC 825c, 825h Name of Law: Federal Power Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1902-AD26	Proposed rulemaking	75 FR 35700	06/23/2010

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FERC-3Q [gas], Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies,	FERC-3Q	Quarterly Financial Report of Electric Utilities Licensees,

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The information maintained and collected under the requirements of Part 260 is essential to the Commission’s oversight duties. The data now reported in the forms does not provide sufficient information to the Commission 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 collection proposed in the Notice of Proposed Rulemaking would increase the forms’ usefulness to both the public and the Commission. Without this information, it is difficult for the Commission and the public to perform an assessment of pipeline costs, and thereby help to ensure that rates are just and reasonable. The Commission has determined that dependable, affordable, competitive wholesale energy markets require an adequate infrastructure, balanced market rules, and vigilant oversight. This proposed rule helps in achieving the goal of vigilant oversight by providing the Commission with more timely, relevant, reliable and understand

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Annual Cost to Federal Government: $228,333

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 06/23/2010

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