View Information Collection Request (ICR) Package
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View Supporting Statement and Other Documents
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:
201609-1902-006
Status:
Historical Active
Previous ICR Reference No:
201307-1902-009
Agency/Subagency:
FERC
Agency Tracking No:
FERC Form 3-Q
Title:
FERC-3-Q, Quarterly Financial Report of Electric Utilities, Licensees, and Natural Gas Companies
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/16/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/03/2016
Terms of Clearance:
In accordance with 5 CFR 1320, the information collection is approved for three years. 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
12/31/2016
Responses
1,140
0
1,101
Time Burden (Hours)
191,019
0
184,575
Cost Burden (Dollars)
0
0
0
Abstract:
A consolidated supporting statement is being submitted for Forms 1, 1-F, and 3-Q [electric and gas). 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.
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:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 38169
06/13/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 67343
09/30/2016
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
[Electric] FERC 3-Q, Quarterly Financial Report of Electric Utilities and Licensees
FERC Form 3-Q
Quarterly Financial Report
[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
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
1,140
1,101
0
0
39
0
Annual Time Burden (Hours)
191,019
184,575
0
0
6,444
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
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:
Non-substantive updates [e.g., to estimated average number of burden hours and addresses for FERC and OMB] are being made to the instructions as noted in Attachment A of the supporting statement. There are no changes to the reporting requirements. However, total responses may vary in the future depending on the companies self-identifying as a required filer based on the classifications outlined in the CFR. (For the Forms 3-Q, the number of filers has been updated due to fluctuations in industry (e.g., companies merging/splitting and entering/exiting the industries), and the average number of estimated hours per response have been rounded.)
Annual Cost to Federal Government:
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:
Astrid Rapp 202 502-6264
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:
10/03/2016
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