Agency will seek and respond to public comment on this ICR and all associated rulemakings especially concerning the capital/start-up costs to small entitites. The ICR is not approved at this time so that the agency may consider and respond to public comments on the associated proposed rule.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
36 Months From Approved
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[The Electric Quarterly Report (EQR) has been included within the FERC-516 requirements. Because the FERC-516 is currently at OMB for review in another docket (final rule), we provide the information on EQR and the proposed changes in this NOPR in Docket RM10-12 to OMB under the FERC-920. In the Final Rule in Docket No. RM10-12, we expect to split the EQR into this separate collection no. (FERC-920) with a separate new OMB control no. and to remove EQR from FERC-516.]
FERC proposes to enhance electricity market transparency by requiring certain market participants that are not subject to Section 205 of the Federal Power Act to file electric quarterly reports (EQRs). The proposal would give FERC and the public a more complete picture about how prices are established or formed by bilateral transactions in the wholesale electricity markets. It also would improve FERC's ability to monitor wholesale electricity markets for market power and manipulation. FERC is taking this step under authority granted in the Energy Policy Act of 2005.
Currently, public utilities must file EQRs summarizing contractual terms and conditions in their agreements for cost-based and market-based rate sales and transmission service, as well as transaction information for cost-based and market-based rate sales and transmission capacity reassignments. The RM10-12 Notice of Proposed Rulemaking (NOPR) would extend those requirements to non-public utilities with annual wholesale sales of more than 4 million megawatt hours (MWh) and to non-public utility balancing authorities with 1 million MWh or more in annual wholesale sales.
In addition to proposing that these non-public utilities file EQRs, the NOPR would refine the reporting requirements by directing all filers to, among other things: report the transaction date, time and type of rate; indicate whether the transaction was reported to an index publisher; identify any broker or exchange used for a sales transaction; and report electronic tag ID data.
To facilitate price transparency in markets for the sale and transmission of electric energy in interstate commerce, FERC (Commission) proposes to revise its regulations to require market participants that are excluded from the Commission's jurisdiction under section 205 of the Federal Power Act (FPA) and have more than a de minimis market presence to file Electric Quarterly Reports (EQR) with the Commission. In doing so, the Commission proposes to exercise its authority under section 220 of the FPA, as adopted in the Energy Policy Act of 2005 (EPAct 2005). This proposal would allow the Commission and the public to gain a more complete picture of wholesale power and transmission markets in interstate commerce by providing additional information concerning price formation and market concentration in these markets. Public access to additional sales and transmission-related information in the EQR would improve market participants' ability to assess supply and demand fundamentals and to price interstate wholesale market transactions. It also would strengthen the Commission's ability to identify potential exercises of market power or manipulation and to better evaluate the competitiveness of the interstate wholesale markets.
In addition, the Commission proposes to make certain revisions to the existing EQR filing requirements and apply those revisions to all market participants filing EQRs. The Commission proposes to revise the EQRs currently filed by public utilities under FPA section 205(c) and that will be filed by non-public utilities under FPA section 220. These revisions include the addition of new fields for: (1) reporting the transaction date and time, as well as the type of rate; (2) indicating whether the sales transaction was reported to an index publisher; (3) identifying the broker or exchange used for a sales transaction, if applicable; and (4) reporting electronic tag (e-Tag) ID data. The Commission also proposes to eliminate the time zone from the contract section and the Data Universal Numbering System (DUNS) data requirement. Further, the Commission proposes to standardize the unit for reporting energy and capacity transactions. These refinements to the existing EQR filing requirements reflect the evolving nature of electricity markets, would increase market transparency for the Commission and the public, and would allow market participants to file the information in the most efficient manner possible.
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.
rev5_4_11_team edits draftRM10_12support state fromold clear pkg from RM01-8 ombjust.doc
FERC-920, Electric Quarterly Report (EQR in NOPR in RM10-12) [EQR is currently contained in FERC-516]