In accordance with 5 CFR 1320, the information collection is approved.
Inventory as of this Action
Requested
Previously Approved
12/31/2028
36 Months From Approved
12/31/2025
741
0
786
111,150
0
117,900
0
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 companyâs past performance and its future prospects. Without reliable financial statements (prepared in accordance with the Commissionâs 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 decrease of 45 responses (from 786 to 741) for FERC Form No. 6-Q is due to normal fluctuations in the industry (e.g., companies merging, splitting, entering into and exiting the industry).
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 6Q Quarterly Financial Report
FERC-6 6Q - 30 Day FRN Published.pdf
FERC 6 6Q - 30 Day eLibrary.docx
FERC Form No. 6-Q, Quarterly Report of Oil Pipeline Companies