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OMB Control No: 1902-0205	ICR Reference No: 200810-1902-007
Status: Historical Active	Previous ICR Reference No: 200804-1902-008
Agency/Subagency: FERC	Agency Tracking No: FERC Form 3-Q
Title: 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: Approved without change	Conclusion Date: 01/15/2009
Retrieve Notice of Action (NOA)	Date Received in OIRA: 10/17/2008
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2012	10/31/2011	10/31/2011
Responses	1,074	0	1,071
Time Burden (Hours)	177,177	0	176,087
Cost Burden (Dollars)	0	0	0

Abstract: 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. On September 19, 2008 the Commission issued a Final Rule amending its reporting requirements for public utilities and licensees to file financial forms, reports, and statements, including FERC Form No. 1, FERC Form No. 1-F, and FERC Form No. 3-Q. These changes are to improve the forms, reports and statements to provide, in fuller detail, the information the Commission needs to carry out its responsibilities under the Federal Power Act to ensure that rates remain just and reasonable. In addition, the changes will help provide public utility customers, state commissions, and the public information to assess the justness and reasonableness of electric rates. Specifically, the Final Rule adopts revised reporting requirements which will enhance the Commissions and customers review of formula rates; permit better understanding of non-power goods and services transactions with affiliates, and provide additional detail of revenues not previously specified in Form 1. In addition, the Final Rule will expedite reporting by clarifying Form 1 instructions and cross-references and making certain technical improvements in the form. Finally, the Final Rule responds to the burdens faced by filers by adopting minimum reporting thresholds for certain accounting data, eliminating the reporting requirement for certain utilities that are not otherwise subject to this Commissions reporting obligations or jurisdiction, and accommodating filers whose fiscal year does not fall in the calendar year that is used for reporting purposes. (See also ICR 200810-1902-005)

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

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1902-AD50	Final or interim final rulemaking	73 FR 58720	10/07/2008

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? Yes

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	1,074	1,071	3	0
Annual Time Burden (Hours)	177,177	176,087	597	493
Annual Cost Burden (Dollars)	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

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

Burden Reduction Due to:

Short Statement: The information maintained and collected under the requirements of Part 141 is essential to the Commissions oversight duties. The data now reported in the forms does not provide sufficient information to the Commission and the public to permit an evaluation of the filers jurisdictional rates. 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 collections proposed 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 an assessment of electric utility costs, and thereby help to ensure that rates are just and reasonable.

Annual Cost to Federal Government: $31,596

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: David Lengenfelder 2025028351 david.lengenfelder@ferc.gov

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