In accordance with 5 CFR 1320, the information collection is approved for 3 years.
Inventory as of this Action
Requested
Previously Approved
05/31/2014
36 Months From Approved
01/31/2012
1,101
0
1,074
183,936
0
177,177
0
0
0
In response to a court remand of Order Nos. 710 and 710-A, the Commission is revising FERC Form Nos. 2, 2-A, and 3-Q, to include functionalized fuel data on pages 521a through 521d of those forms, and to include on such forms the amount of fuel waived, discounted or reduced as part of a negotiated rate agreement. Page 520 is being revised accordingly.
"Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies," requires companies to file with the Commission 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 accountings 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.
In this proceeding, the Commission is seeking approval of newly revised Forms 2, 2-A, and 3-Q. The additional information that will now be provided does impose a small increase in burden on respondents. The data previously reported in the forms does not provide sufficient information to the Commission and the public to permit a complete evaluation of the filers' jurisdictional rates. The more detailed information that will be filed fills that gap. Since the triennial restatement of rates requirement was abolished and pipelines are no longer required to submit this information, the need for current and relevant data is greater than in the past. The information collection approved in the Final Rule will increase the forms' usefulness to both the public and the Commission. Without this information, it is difficult for the Commission and the public to perform a complete assessment of pipeline costs, and thereby help to ensure that rates are just and reasonable.
In addition to the more detailed information to be filed on the forms, there is also a burden increase due to an increase in the number of filers since the last review. The number of Form 2 respondents has increased by 10 and the number of Form 3-Q respondents has increased by a net of 9. This increase is due to additional companies entering the industry.
$81,495
No
No
No
No
No
Uncollected
Brian Holmes 202 219-2618
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.
Form Form 3-Q FERC-3Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies,
RM07-9-003_Final_Rule_Justification[1]2_1_11.doc
FERC-3Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies,