View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1902-0205
ICR Reference No:
201101-1902-004
Status:
Historical Active
Previous ICR Reference No:
201006-1902-004
Agency/Subagency:
FERC
Agency Tracking No:
FERC Form 3-Q
Title:
FERC-3Q, [RM07-9-003] 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:
05/16/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/01/2011
Terms of Clearance:
In accordance with 5 CFR 1320, the information collection is approved for 3 years.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2014
36 Months From Approved
01/31/2012
Responses
1,101
0
1,074
Time Burden (Hours)
183,936
0
177,177
Cost Burden (Dollars)
0
0
0
Abstract:
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.
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-AE11
Final or interim final rulemaking
76 FR 4516
01/26/2011
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
FERC-3Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies,
Form 3-Q (Revised Portion), Form 3-Q
Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies
,
Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
1,101
1,074
0
0
27
0
Annual Time Burden (Hours)
183,936
177,177
0
2,304
4,455
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
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.
Annual Cost to Federal Government:
$81,495
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]?
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
Agency Contact:
Brian Holmes 202 219-2618
Common Form ICR:
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:
(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:
02/01/2011
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