News Release RM21-11

July 28, 2022
News Media Contact
Celeste Miller | 202-502-8680
[email protected]
Docket No. RM21-11-000
Agenda Item E-3
FERC Proposes to Modernize Accounting Systems to Reflect Changing Electricity Markets
FERC today announced plans to modernize its accounting systems to better reflect the rapid changes in
electric power market resources and technologies.
The Commission issued a Notice of Proposed Rulemaking (NOPR) that would modify its Uniform System
of Accounts (USofA) by creating new accounts for wind, solar and other non-hydro renewable assets,
establishing a new functional class for energy storage accounts, codifying the accounting treatment for
renewable energy credits and creating new accounts for computer hardware, software and
communication equipment. Creation of these discrete accounts would provide more accurate
information to the Commission and the public during the ratemaking process by enabling more
reasonable estimates for lifetimes of plant service and their recorded depreciation.
FERC’s USofA facilitates the Commission’s ratemaking responsibilities and uniformly captures regulated
entities’ financial and operational information. Today’s NOPR serves to increase transparency and
improve the Commission’s ratemaking processes.
Additionally, the NOPR seeks comment on whether the Chief Accountant should issue guidance on
accounting for hydrogen.
This NOPR is a result of a Jan. 19, 2021, Notice of Inquiry on the appropriate accounting treatment for
renewable energy assets. Comments on today’s NOPR are due 45 days after publication in the Federal
Register.
R22-37
(30)

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