FERC-3-Q (for electric and gas), (NOPR in RM19-12) Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies

Forms and Documents

Document Name	Status
Form Form 2/3Q [GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies Form and Instruction	Modified
Form FERC Form 3-Q [Electric] FERC 3-Q, Quarterly Financial Report of Electric Utilities and Licensees Form and Instruction	Modified
RM19-12NOPR consolid supp state_final3-14-19clean.docx Supporting Statement A	2019-03-14
cfr_1_1F-3Q.docx Supplementary Document	2019-01-29
Form 3Q Statute.doc Supplementary Document	2011-01-27

IC Document Collections

IC ID	Document Title	Status
23250	[GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies Form and Instruction	Modified
208100	[Electric] FERC 3-Q, Quarterly Financial Report of Electric Utilities and Licensees Form and Instruction	Modified

ICR Details

OMB Control No: 1902-0205	ICR Reference No: 201901-1902-005
Status: Historical Inactive	Previous ICR Reference No: 201609-1902-006
Agency/Subagency: FERC	Agency Tracking No: FERC Form 3-Q
Title: FERC-3-Q (for electric and gas), (NOPR in RM19-12) Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 03/14/2019
	Date Received in OIRA: 02/08/2019
Terms of Clearance: 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 will 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. In addition, the previous terms of clearance are still in effect: OMB encourages FERC to reach out to the Bureau of Economic Analysis (BEA) (and any other commenters) to discuss the data needs BEA identified during the review of this information collection request renewal and to determine whether possible efficiencies (to the federal government and industry) may be made by including additional data or information requirements in this form in the future.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2019	36 Months From Approved	12/31/2019
Responses	1,140	0	1,140
Time Burden (Hours)	191,019	0	191,019
Cost Burden (Dollars)	0	0	0

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Abstract: NOPR in RM19-12. A consolidated supporting statement is being submitted for Forms 1, 1-F, and 3-Q [electric and gas), 2, 2A, 6, 6Q, 714A, & 60A. The Commission is proposing to transition from the current use of the Visual FoxPro software, which is no longer supported by its developer, to a type of Extensible Markup Language (XML) called eXtensible Business Reporting Language (XBRL). The XBRL standard would be used to file the Commission’s Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714. The use of XBRL should make the information in these forms easier for filers and data users to analyze and assist in automating regulatory filings and business information processing. In addition, the Commission believes that transitioning from the current Visual FoxPro system to XBRL will decrease the costs, over time, of preparing the necessary data for submission and complying with future changes to filing requirements set forth by the Commission. The Commission is also proposing to revise its regulations to require filers of Form No. 1-F to file their report in electronic media pursuant to 18 CFR 385.2011. General. Form 3-Q requires companies to file with FERC a complete set of quarterly financial statements. Most of the information contained in these forms is the same information currently submitted on an annual basis. Quarterly reporting of financial information permits the Commission to better understand trends and other factors that may affect an entity's liquidity position, its commitments of capital expenditures, its sources of financing, along with changes in the amount of assets, liabilities, debt and equity used in its business. Transparent accounting and more frequent financial reporting play an important role in achieving vigilant oversight of market participants. More frequent financial reporting provides needed insight into the opportunities and risks facing the energy industry as the Commission considers and assesses the affects of its regulatory initiatives. The Commission shares the view that quarterly reporting enhances its overall decision making process by providing more timely, useful and relevant data to the decision making process.

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Authorizing Statute(s): US Code: 16 USC 825c, 825h Name of Law: Federal Power Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1902-AF58	Proposed rulemaking	84 FR 1412	02/04/2019

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
[GAS] FERC-3Q, Quarterly Financial Report of Natural Gas Companies	Form 2/3Q	FERC Financial Report FERC Form No. 2: Annual Report of Major Natural Gas Companies and Supplemental Form 3-Q: Quarterly Financial Report
[Electric] FERC 3-Q, Quarterly Financial Report of Electric Utilities and Licensees	FERC Form 3-Q	Quarterly Financial Report

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Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 02/08/2019

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