FERC Form No. 6-Q, Quarterly
Report of Oil Pipeline Companies
Extension without change of a currently approved collection
No
Regular
04/08/2022
Requested
Previously Approved
36 Months From Approved
11/30/2022
786
732
117,900
109,800
0
0
The Interstate Commerce Act (ICA)
authorizes the Commission to make investigations, collect, and
record data in order to carry out certain necessary and useful
provisions. The information collected from oil pipeline companies
under the requirements of the FERC Form No. 6-Q provide the
Commission the ability to implement the statutory provisions of the
ICA including the authority to prescribe rules, regulations
concerning accounts, records, memoranda as necessary. The ICA also
allows the Commission to prescribe a system of accounts for
jurisdictional companies and (after notice) and opportunity for
hearing to determine the accounts in which particular outlays and
receipts can be entered, charged, or credited. The financial
accounting and reporting provides needed information concerning a
FERC Form No. 6-Q company’s past performance and its future
prospects. Without reliable financial statements (prepared in
accordance with the Commission’s Uniform Systems of Accounts), the
Commission would be unable to accurately determine the costs that
related to a particular time period, service, or line of business.
Additionally, it would be more difficult for the Commission to
determine if a certain entity was previously provided the
opportunity to recover its costs via rates or to compare how the
financial performance of one regulated entity relates to another.
The FERC Form No. 6-Q assists the Commission in overseeing and
policing the regulated oil pipeline markets to assist in enforcing
the ICA.
The increase of 54 responses
(from 732 to 786) for the FERC Form No. 6-Q is due to normal
fluctuations in the industry (e.g., companies merging, splitting,
entering in to and exiting the industry). There are no program
changes or changes to the reporting or recordkeeping requirements.
However, since the transition to XBRL has been completed the costs
of developing and implementing new processes are no longer
applicable, thus those costs have been removed.
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.