FERC Form No. 6-Q, Quarterly Report of Oil Pipeline Companies
Extension without change of a currently approved collection
No
Regular
04/08/2022
Requested
Previously Approved
36 Months From Approved
11/30/2022
786
732
117,900
109,800
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 company’s past performance and its future prospects. Without reliable financial statements (prepared in accordance with the Commission’s 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 increase of 54 responses (from 732 to 786) for the FERC Form No. 6-Q is due to normal fluctuations in the industry (e.g., companies merging, splitting, entering in to and exiting the industry).
There are no program changes or changes to the reporting or recordkeeping requirements. However, since the transition to XBRL has been completed the costs of developing and implementing new processes are no longer applicable, thus those costs have been removed.
$87,341
No
No
No
No
No
No
No
Christopher Kozler 734 239-3294 christopher.kozler@ferc.gov
No
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.