FERC-555, Preservation of Records for Public Utilities and Licensees, Natural Gas and Oil Pipeline Companies.

FERC-555 involves FERC's records retention regulations which apply to public utilities and licensees, natural gas pipeline companies, and oil pipeline companies. These records serve as the basis for required rate filings and reports submitted to FERC. The records are retained in order to be reviewed by FERC staff during compliance reviews, audits, special analyses performed as deemed necessary by FERC, and serve as a basis in complaint proceedings. The official records that are required to be maintained by jurisdictional companies in accordance with 18 CFR Parts 125, 225 and 356 include the following types of records: • Corporate • Information Technology Management • General Accounting • Personnel and Payroll • Transportation • Tariffs and Rates • Insurance • Operations and Maintenance • Plant and Depreciation • Purchase and Stores • Revenue Accounting and Collection • Tax • Treasury • Miscellaneous See 18 CFR Parts 125, 225, and 356 for the specific items and retention periods. In the final policy statement, PL24-1-000, the Commission is clarifying that the cost data (submitted via the FERC-516J, -537, -538, -545, -546, and -550) should include project-wide labor wages and include union and non-union wages. The requirement to submit additional data will cause a slight increase in overall amount of data that must be retained under the FERC-555 data collection. Therefore, the changes in the final policy statement will require additional retention under the FERC-555 data collection.

The latest form for FERC-555, Preservation of Records for Public Utilities and Licensees, Natural Gas and Oil Pipeline Companies. expires 2027-01-31 and can be found here.

FERC-555, Preservation of Records for Public Utilities and Licensees, Natural Gas Pipeline Companies, and Oil Pipeline Companies.

Federal Enterprise Architecture: Energy - Energy Supply