FERC-920 - Electric Quarterly Report (EQR) (NOPR RM23-9)
Revision of a currently approved collection
No
Regular
Comment filed on proposed rule and continue
06/10/2024
11/02/2023
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 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.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
04/30/2026
36 Months From Approved
04/30/2026
11,716
0
11,716
212,060
0
212,060
0
0
0
General Background on EQR: EQR information allows the Commission and the public to gain a more complete picture of interstate wholesale electric power and transmission markets by providing information concerning price formation and market concentration in these markets. Public access to power sales and transmission-related information in the EQR improves market participantsâ ability to assess supply and demand fundamentals and to price interstate wholesale electric market transactions. This, in turn, results in greater market confidence, lower transaction costs, and ultimately supports competitive markets. In addition, the data filed in the EQR strengthens the Commissionâs ability to exercise its oversight and enforcement responsibilities of wholesale electric and electric power transmission rates in accordance with the Federal Power Act. Without this information, the Commission would lack some of the data it needs to examine and approve or modify electric rates. It also strengthens the Commissionâs ability to identify potential exercises of market power or manipulation and to better evaluate the competitiveness of interstate wholesale electric markets.
In the NOPR on Revisions to the Filing Process and Data Collection for the Electric Quarterly Report, in Docket No. RM23-9-000, the Commission proposes to update and streamline the collection of data, improve data quality, increase market transparency, and decrease the costs, over time, of preparing the necessary data for submission and complying with future changes to the filing requirements set forth by the Commission. Under the NOPR proposal, the EQR data collection would be modified to:
1. Implement a new collection method based on the eXtensible Business Reporting Language-comma separated values (XBRL-CSV) standard;
2. Require regional transmission organizations (RTOs) and independent system operators (ISOs) to produce reports containing market participant transaction data in XBRL-CSV format that adhere to the FERC EQR taxonomy; and
3. Modify or clarify EQR reporting requirements.
The proposed rule in Docket no. RM23-9-000 causes an increase in burden due to program changes. Commission staff recognizes that the increase in burden will be significant in during the adoption and implementation of the changes, but anticipates that the modernized collection method will reduce burden on filers overtime.
The revisions proposed in this NOPR would: (a) implement a new collection method based on the XBRL-CSV standard; (b) require RTOs and ISOs to produce reports containing market participant transaction data in XBRL-CSV format that adhere to the FERC EQR taxonomy; and (c) make substantive changes to eliminate or modify the information collected in the EQR. The information collected in the EQR is required to be submitted quarterly to the Commission under existing regulations and reporting requirements adopted under the FPA.
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 FERC-920 Electric Quarterly Report
EQR_920_ supporting statement_RM23-9-000_FINAL.docx
EQR NOPR Modified Data Fields Summary_10_19_23.htm
EQR Filing Requirements Guide (as of 11-15-2017).pdf
RTO/ISO Reports, Years 2 and beyond transaction reports (ongoing) (NOPR RM23-9)