NEW eForms Solution Coming - FERC Docket RM19-12

FERC Acts to Modernize Process for Filing Commission Forms (RM19-12, Order 859)
The Federal Energy Regulatory Commission (FERC) is revising its electronic filing format for certain data collections to make it easier for filers to submit and data users to analyze information. By modernizing FERC’s data collections and making them more accessible, today’s final rule will increase efficiency in regulatory filings and business information processing, further the goal of transparency, and decrease the costs, over time, of preparing the necessary data for submission.

The rule adopts eXtensible Business Reporting Language (XBRL), a nonproprietary, open technology standard, as the new filing format. XBRL will enhance system compatibility and security, and allow efficient sharing of data across different information systems. Industry groups broadly supported the move to the new standard.

Systrends will be developing software for the new FERC FORMS requirement for all the forms.

The next step is for FERC staff to develop a draft XBRL taxonomy that will be discussed at a future technical conference, which will be help Feb 4-6, 2020. Systrends will also be sending a representative to gain more knowlege.

The Commission will collect additional comments before issuing a subsequent order/ to adopt the final standard and establish an implementation schedule.

The Commission Forms that are affected by this order include

  • Major Electric Utilities Form 1 and Form 3-Q
  • Non-Major Electric Utilities Form 1-F and Form 3-Q
  • Electric Transmitting Utilities Form 714
  • Major natural Gas Pipelines Form 2 and Form 3-Q
  • Non-Major Natural Gas Pipelines Form 2A and Form 3-Q
  • Oil Pipelines Form 6 and Form 6-Q
  • Centralized Service Companies Form 60

If interested in the new eFORM software from Systrends, please contact us.