In accordance with 5 CFR 1320, the information collection is approved for three years. Since FERC did not address the previous terms of clearance in 2016, the terms of clearance are still valid in 2019. These are: 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. FERC should discuss what it has done to address the terms of clearance before its next revision.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
11/30/2022
36 Months From Approved
12/31/2019
1,131
0
1,140
189,513
0
191,019
0
0
0
A consolidated supporting statement is being submitted for Forms 1, 1-F, and 3-Q [electric and gas).
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.
The 30-day Notice in Docket IC19-22 is being published in the Federal Register on 7/18/19. (A placeholder is included in the metadata below in order to submit this timely to OMB.) The FERC-issued version of the Notice is included under Supplementary Documents.
There are no program changes or changes to the reporting or recordkeeping requirements.
Question 15 of the supporting statement shows adjustments (such as normal industry fluctuations [companies merging, splitting, going into and leaving the business]).
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 [GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies
IC19-22_1_1F_3Q_supp state7-17-19.docx
1_1F-3Q_60day_IC19-22_FR2019-09297.pdf
Form 3Q Statute.doc
[GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies