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:
202202-1902-008
Status:
Historical Active
Previous ICR Reference No:
201905-1902-006
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 with change
Conclusion Date:
07/20/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/08/2022
Terms of Clearance:
In accordance with 5 CFR 1320, the information collection is approved for three years. As a continuation of previous terms of clearance, OMB encourages FERC to continue engaging with the Bureau of Economic Analysis (BEA) (and any other commenters) to discuss data needs and to be responsive to comments received during the next renewal/revision cycle. FERC should discuss what it has done to address the terms of clearance before its next revision.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2025
36 Months From Approved
11/30/2022
Responses
1,104
0
1,131
Time Burden (Hours)
185,031
0
189,513
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:
86 FR 67042
11/24/2021
30-day Notice:
Federal Register Citation:
Citation Date:
87 FR 20843
04/08/2022
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
1,104
1,131
0
0
-27
0
Annual Time Burden (Hours)
185,031
189,513
0
0
-4,482
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:
The increase and changes in the number of FERC Form No. 3Q electric and gas responses from 636 to 663 and 495 to 441, respectively, is due to normal fluctuations in the industry (e.g., companies merging, splitting, entering into, and exiting the industry). There are no program changes in the reporting or recordkeeping requirements, but the Form 3-Q (electric and gas) include the calculations for the 3-QT (electric and gas) and the "T' forms are anticipated to be discontinued after OMB approval.
Annual Cost to Federal Government:
$249,216
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
No
Agency Contact:
Christopher Kozler 734 239-3294 christopher.kozler@ferc.gov
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:
04/08/2022
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