eFINForms XBRL Software for FERC Order 859 (Docket RM19-12)

FERC Filing Commission Forms (RM19-12, Order 859)
The Federal Energy Regulatory Commission (FERC) is revising the electronic filing format for FERC Forms to make it easier for filers to submit and data users to analyze information.
 
The rule adopts eXtensible Business Reporting Language (XBRL) format
 
Systrends has begun developing software for the new FERC eFORMS XBRL requirement to submit the following forms:
  • Form 1, 1-F, 3-Q, and 714 for Electric industry
  • Form 2, 2A and 3Q for Gas
  • Form 6 and 6-Q for Oil.
  • Form 60 for Service Companies
Some of the features in the software include:  
Prefilling of certain information, population of previous years data, performing calculations, and multi-level approval process. It also has full FERC and other business validations built in, so not only does it validate the XBRL when it is generated, but will also validate the data as the form as it is being populated.
 
The eForms portal is found on the new eCollection domain: https://ecollection.ferc.gov/
 
Systrends  new software is a web-based enterprise application that will allow you to manage your form financial data and import various information from excel or Word to help generate the Commission Form reports more efficiently and accurately and submit directly to FERC
 
The anticipated completion of our application will be end of the year 2020 to the first part of 2021. We are currently providing demonstrations of the product. Our Goal is to have the product available for user training starting 1st quarter 2021
 
The due dates for filing FERC Forms in XBRL are as follows:
  • FERC Form No. 3-Q (electric) for Major Electric Utilities, Licensees, and Others for the third quarter of 2021, will be due on November 29, 2021.
  • FERC Form No. 3-Q (electric) for Non-major Public Utilities and Licensees for the third quarter of 2021, will be due on December 9, 2021.
  • FERC Form No. 3-Q (natural gas) for Major Natural Gas Companies for the third quarter of 2021 will be due on November 29, 2021.
  • FERC Form No. 3-Q (natural gas) for Non-major Natural Gas Companies for the third quarter of 2021, will be due on December 9, 2021.​
  • FERC Form No. 6-Q for Oil Pipeline Companies for the third quarter of 2021 will be due on December 9, 2021.
 
Email eFINForms@systrends.com for more information