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This document serves as the annual and quarterly financial reporting requirements for major electric utilities, licensees, and other related entities, as mandated by the Federal Energy Regulatory
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How to fill out ferc form no 1
How to fill out FERC FORM No. 1 & 3-Q
01
Gather all necessary financial and operational data related to your utility business.
02
Download the FERC FORM No. 1 & 3-Q from the FERC website.
03
Start with FERC FORM No. 1, which is an annual report; fill in your company's name and the reporting period at the top.
04
Complete the financial statements section by providing detailed income statements, balance sheets, and cash flow statements.
05
Fill out the operational data sections, including details on network assets, service areas, and number of customers.
06
Review the 'Notes to Financial Statements' section and provide any necessary explanations regarding your financial situation.
07
For FERC FORM No. 3-Q, which is a quarterly report, follow similar steps but focus specifically on quarterly performance data.
08
Ensure that all information is accurate and up-to-date, cross-checking with your internal records.
09
Submit the completed forms via the FERC online submission system or according to the specified submission guidelines.
Who needs FERC FORM No. 1 & 3-Q?
01
Public utilities that operate in interstate commerce must file FERC FORM No. 1 annually.
02
Companies that need to report quarterly performance data must file FERC FORM No. 3-Q.
03
Regulated entities including electric, gas, and oil pipeline companies are required to submit these forms.
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People Also Ask about
What is in FERC Form 1?
The Form No. 1 is a comprehensive financial and operating report submitted annually for electric rate regulation, market oversight analysis, and financial audits by Major electric utilities, licensees and others.
What is the new transmission rule?
The rule requires transmission operators to conduct and periodically update long-term transmission planning over a 20-year time horizon to anticipate future needs. It also provides for cost-effective expansion of transmission that is being replaced, when needed, known as “right-sizing” transmission facilities.
What is FERC form 2?
The Form No. 2 is a compilation of financial and operational information from major interstate natural gas pipelines subject to the jurisdiction of the FERC. The form contains data for a calendar year.
What is the final rule of the FERC order 881?
Order 881 (which was clarified through Order 881-A in May 2022) requires U.S. transmission providers, including Independent System Operators and/or Regional Transmission Operators, to develop and implement Ambient Adjusted Ratings (AAR) for transmission lines over which they provide service by July 12, 2025.
What is FERC form 3q?
The Form No. 3-Q is a comprehensive quarterly financial and operating report which supplements Annual Report Forms 2 and 2-A and is submitted for each Major and Non Major Natural Gas Company. Chapter: 18 CFR § 260.300. OMB #: 1902-0205, expires 7/31/2025.
What is the new rule of the FERC?
The rule provides: Prompt Review: While the Clean Water Act allows them one year to accept, deny, or waive a certification request, FERC's rule encourages states and tribes to accept, deny, or waive the request within six months.
What is the FERC permitting rule?
The rule provides: Prompt Review: While the Clean Water Act allows them one year to accept, deny, or waive a certification request, FERC's rule encourages states and tribes to accept, deny, or waive the request within six months.
What is the FERC 60 day rule?
In the Final Rule, FERC directs transmission providers to submit compliance filings within 60 days of the effective date or on or before January 27, 2025. Each compliance filing must include a proposed effective date within 90 days from the date of the filing.
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What is FERC FORM No. 1 & 3-Q?
FERC FORM No. 1 is an annual report for electric utility companies, while FERC FORM No. 3-Q is a quarterly report for the same entities. These forms provide important financial and operational information to the Federal Energy Regulatory Commission (FERC).
Who is required to file FERC FORM No. 1 & 3-Q?
Public utilities and certain other entities that operate within the electric power sector and are regulated by FERC are required to file FERC FORM No. 1 & 3-Q.
How to fill out FERC FORM No. 1 & 3-Q?
FERC FORM No. 1 and 3-Q can be filled out by gathering the required financial and operational data as outlined in the corresponding instructions. Companies must ensure all fields are completed accurately and submitted electronically through the FERC's online filing system.
What is the purpose of FERC FORM No. 1 & 3-Q?
The purpose of FERC FORM No. 1 & 3-Q is to collect essential data regarding the financial performance and operational activities of electric utilities to ensure compliance with regulations and to assist in regulatory oversight.
What information must be reported on FERC FORM No. 1 & 3-Q?
FERC FORM No. 1 & 3-Q require reporting on various categories, including balance sheets, income statements, operational statistics, and other financial metrics relevant to the utility's performance.
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