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This form is mandated under the Federal Power Act, Section 304, for Major Electric Utilities, Licensees, and other entities to report their financial status. It includes various sections detailing
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How to fill out ferc form no 1
How to fill out FERC Form No. 1
01
Obtain the official FERC Form No. 1 from the FERC website or appropriate governing body.
02
Review the instructions provided with the form to understand the required information.
03
Fill in the basic identification information about the utility, including name, address, and registration details.
04
Complete the financial schedule, providing detailed financial statements and accounting data for the reporting period.
05
Enter operating statistics, which may include data such as energy production, sales, and number of customers served.
06
Include any additional schedules or supporting information as required by the specific filing instructions.
07
Review the completed form for accuracy and completeness before submission.
08
Submit the form through the FERC's eFiling system before the deadline.
Who needs FERC Form No. 1?
01
Public utilities that are regulated by the Federal Energy Regulatory Commission (FERC) are required to file Form No. 1.
02
This form is typically necessary for companies involved in the generation, transmission, or distribution of electricity.
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People Also Ask about
What is FERC approval?
The Federal Energy Regulatory Commission, or FERC, is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. FERC also reviews proposals to build liquefied natural gas (LNG) terminals and interstate natural gas pipelines as well as licensing hydropower projects.
How long does FERC approval take?
Depending on the filing type, review by one of our Program Offices may be in progress. This review could take up to 24 hours. There are also periods during which the filing queue may receive a large influx of filings. In any event, filings should be accepted or rejected within 24 hours.
Who does FERC have jurisdiction over?
FERC typically has jurisdiction over sales of electricity between power suppliers and utilities, which are called “wholesale sales.” In major parts of the country (see map above), there are organized markets for wholesale electricity sales.
What's the difference between FERC and NERC?
In summary, NERC is a non-profit regulatory body that focuses on ensuring the reliability and security of the bulk power system, while FERC is a government agency that regulates the interstate transmission of electricity and other energy commodities, as well as hydroelectric projects.
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 FERC form 2?
2 - Major Natural Gas Pipeline Annual Report. 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.
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What is FERC Form No. 1?
FERC Form No. 1 is an annual report required by the Federal Energy Regulatory Commission (FERC) for public utilities to provide detailed financial, operational, and statistical data.
Who is required to file FERC Form No. 1?
Public utilities with a gross operating revenue of $4 million or more are required to file FERC Form No. 1.
How to fill out FERC Form No. 1?
FERC Form No. 1 is filled out by submitting detailed financial statements, operational data, and other required information according to the guidelines provided by the FERC. Utilities must adhere to specific accounting practices and ensure accuracy in reporting.
What is the purpose of FERC Form No. 1?
The purpose of FERC Form No. 1 is to provide the FERC with comprehensive data to analyze the operations, financial condition, and services of public utilities, ensuring transparency and regulatory oversight.
What information must be reported on FERC Form No. 1?
Information required on FERC Form No. 1 includes balance sheets, income statements, statement of cash flows, operational statistics, and details on capital expenditures, customer information, and other financial metrics.
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