In accordance
with 5 CFR 1320, OMB is filing comment and withholding approval at
this time. The agency shall examine public comment in response to
the proposed rulemaking and will include in the supporting
statement of the next ICR--to be submitted to OMB at the final rule
stage--a description of how the agency has responded to any public
comments on the ICR, including comments on maximizing the practical
utility of the collection and minimizing the burden. In addition,
the previous terms of clearance are still in effect: OMB encourages
FERC to reach out to the Bureau of Economic Analysis (BEA) (and any
other commenters) to discuss the data needs BEA identified during
the review of this information collection request renewal and to
determine whether possible efficiencies (to the federal government
and industry) may be made by including additional data or
information requirements in this form in the future.
Inventory as of this Action
Requested
Previously Approved
12/31/2019
36 Months From Approved
12/31/2019
1,140
0
1,140
191,019
0
191,019
0
0
0
NOPR in RM19-12. A consolidated
supporting statement is being submitted for Forms 1, 1-F, and 3-Q
[electric and gas), 2, 2A, 6, 6Q, 714A, & 60A. The Commission
is proposing to transition from the current use of the Visual
FoxPro software, which is no longer supported by its developer, to
a type of Extensible Markup Language (XML) called eXtensible
Business Reporting Language (XBRL). The XBRL standard would be used
to file the Commission’s Form Nos. 1, 1-F, 2, 2-A, 3-Q electric,
3-Q natural gas, 6, 6-Q, 60, and 714. The use of XBRL should make
the information in these forms easier for filers and data users to
analyze and assist in automating regulatory filings and business
information processing. In addition, the Commission believes that
transitioning from the current Visual FoxPro system to XBRL will
decrease the costs, over time, of preparing the necessary data for
submission and complying with future changes to filing requirements
set forth by the Commission. The Commission is also proposing to
revise its regulations to require filers of Form No. 1-F to file
their report in electronic media pursuant to 18 CFR 385.2011.
General. 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 accounting 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.
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.