FERC-3-Q, (Final Rule in RM11-24) Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies
Revision of a currently approved collection
No
Regular
Approved without change
11/14/2013
08/16/2013
Prior to the next submission, FERC will consider any public comments or requests for clarification concerning the recordkeeping and reporting requirements that have been appropriately filed with the Commission.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
11/30/2016
36 Months From Approved
05/31/2014
1,101
0
1,101
184,575
0
183,936
0
0
0
A consolidated supporting statement is being submitted with 5 ICRs (for Forms 1, 1-F, and 3-Q [electric]; FERC-717 and FERC-917) for the final rule in Docket No. RM11-24.
Form 3-Q requires companies to file with FERC 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.
In the final rule (Order 784) in Docket RM11-24, FERC is revising its regulations to foster competition and transparency in ancillary services markets. FERC is revising certain aspects of its current market-based rate regulations, ancillary services requirements under the pro forma open-access transmission tariff (OATT), and accounting and reporting requirements. Specifically, FERC is revising Part 35 of its regulations to reflect reforms to its Avista policy governing the sale of ancillary services at market-based rates to public utility transmission providers. The Commission is also requiring each public utility transmission provider to add to its OATT Schedule 3 a statement that it will take into account the speed and accuracy of regulation resources in its determination of reserve requirements for Regulation and Frequency Response service, including as it reviews whether a self-supplying customer has made "alternative comparable arrangements" as required by the Schedule. The final rule also requires each public utility transmission provider to post certain Area Control Error data as described in the final rule. Finally, the Commission is revising the accounting and reporting requirements under its Uniform System of Accounts for public utilities and licensees and its forms, statements, and reports, contained in FERC Form No. 1, FERC Form No. 1-F, and FERC Form No. 3-Q, to better account for and report transactions associated with the use of energy storage devices in public utility operations.
Unrelated to the final rule in RM11-24, FERC is making administrative changes in reginfo.gov (ROCIS) and including separate IC's for the electric Form 3-Q and the gas Form 3-Q. As a result of this administrative separation and increased detail, the existing burden hours and nos. of respondents and responses are being allocated between the electric and gas entities and the corresponding ICs (two ICs rather than being consolidated in one IC).
The final rule in RM11-24 does not affect the gas Form 3-Q; the rule only affects the electric Form 3-Q by adding 1 hour of burden per quarterly filing of the Form 3-Q for the 213 electric entities. (Other electric collections are affected and detailed in other ICRs for RM11-24.)
FERC is revising its regulations to enhance competition and transparency in ancillary services markets. The Commission is revising certain aspects of its current market-based rate regulations, ancillary services requirements under the pro forma open-access transmission tariff (OATT), and accounting and reporting requirements. Specifically, the Commission is revising Part 35 of its regulations to reflect reforms to its Avista policy governing the sale of ancillary services at market-based rates to public utility transmission providers. The Commission is also requiring each public utility transmission provider to add to its OATT Schedule 3 a statement that it will take into account the speed and accuracy of regulation resources in its determination of reserve requirements for Regulation and Frequency Response service, including as it reviews whether a self-supplying customer has made "alternative comparable arrangements" as required by the Schedule. Each public utility transmission provider is also required to post certain Area Control Error data on the open access same-time information system (OASIS). Finally, the Commission is revising the accounting and reporting requirements under its Uniform System of Accounts for public utilities and licensees (USofA) and its forms, statements, and reports, contained in FERC Form No. 1 (Form No. 1), Annual Report of Major Electric Utilities, Licensees and Others, FERC Form No. 1-F (Form No. 1-F), Annual Report for Nonmajor Public Utilities and Licensees, and FERC Form No. 3-Q (Form No. 3-Q), Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies, to better account for and report transactions associated with the use of energy storage devices in public utility operations.
$81,495
No
No
No
No
No
Uncollected
Brian Holmes 202 219-2618
Reginfo record details
No
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 Form 2/3Q FERC Financial Report FERC Form No. 2: Annual Report of Major Natural Gas Companies and Supplemental Form 3-Q: Quarterly Financial Report
splitting 3Q gas vs electricv2_8_15_13.xlsx
Final supp state 8_16_2013.doc
3-Q__18CFR141.400.docx
CFR-2013-title18-vol1-sec260-300.pdf
[GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies