Here is a list of changes/updates FERC will be implementing starting Q4 2016
A. Increment Name
1. Field Numbers 28 and 61 are required data fields that currently require EQR
filers to designate the “Increment Name,” or the terms of a particular contract or sale,
as “Hourly,” “Daily,” Weekly,” “Monthly,” or “Yearly” in the Contract Data and Transaction Data sections of the EQR. Based on our review of EQR data, some EQR filers are reporting “Increment Name” in an inconsistent manner. For example, certain EQR filers designate some transactions in the Transaction Data section as “Daily”
when they should, in fact, be designated as “Hourly” transactions. Conversely, some transactions that should be designated as “Daily” are instead mislabeled as “Hourly.” We clarify that, if the price associated with a transaction does not change on an hourly basis, then that transaction should not be listed as “Hourly.” However, if the price associated with a transaction does change on an hourly basis, then it must be listed as “Hourly.”
2. In addition, the most granular “Increment Name” currently available in the Contract Data and Transaction Data sections is “Hourly.” Thus, for example, even transactions that are settled on a sub-hourly basis, such as in five-minute or fifteen-minute increments, can only be reported in the EQR as “Hourly.” In order to align actual transactional data with the “Increment Name” required by Field Number 61, we will add values for sub-hourly transaction increments in the form of “(5) - Five-Minute” and “(15) - Fifteen-Minute” to Field Number 61. Accordingly, EQR filers will be required to report transactions that occur on a sub-hourly basis, i.e., in five-minute or fifteen-minute increments, as applicable, using the relevant designations in the Transaction Data Section of the EQR. We will include definitions in Field Number 28 for “(5) - Five-Minute” as “[t]erms of the contract (if specifically noted in the contract) set for up to 5 minutes” and for “(15) - Fifteen Minute” as “[t]erms of the contract (if specifically noted in the contract) set for up to 15 minutes.” Similarly, we will include definitions in Field Number 61 for “(5) - Five-Minute” as “[t]erms of the particular sale for up to 5 minutes” and for “(15) - Fifteen-Minute” as “[t]erms of the particular sale for up to 15 minutes.”
3. Finally, the use of the word “consecutive” in the definitions of the specific increments listed under “Increment Name” in both the Contract Data and Transaction Data sections has created some confusion among filers with respect to how they should report peak and off-peak contracts and transactions. For example, “Daily” transactions are defined in Field Number 61 as “Terms of the particular sale set for more than 6 and up to 60 consecutive hours . . . Includes sales over a peak or off-peak block during a single day.” Some EQR filers interpret “consecutive” in this context to mean that daily off-peak transactions should be reported as “Hourly” because off-peak hours can extend over more than one single day. However, these transactions should be reported as “Daily” and not “Hourly.” To ensure greater consistency in how peak or off-peak contracts or transactions are reported, we will delete the word “consecutive” from the definitions listed under “Increment Name” in the Contract Data and Transaction Data sections.
B. Commencement Date of Contract Terms
4. Currently, the EQR Data Dictionary defines the “Commencement Date of Contract Terms” in Field Number 22, in relevant part, as “[t]he date the terms of the contract reported in fields 18, 23 and 25 through 44 (as defined in the data dictionary) became effective. If those terms become effective on multiple dates (i.e., due to one or more amendments), the date to be reported in this field is the date the most recent amendment became effective.” Field Number 22 requires that any amendment to the specified fields necessitates a change to the “Contract Commencement Date” and a new corresponding contract number. Accordingly, for example, if the termination date of a contract changes, then the EQR filer must change the “Contract Commencement Date” in Field Number 22 and submit a new corresponding contract number.
5. In Order No. 2001-H, the Commission stated that an amendment to key terms associated with the products and services offered under any given jurisdictional contract would require a change to the information collected in Field Number 22 regarding the date that service commenced under the contract.The Commission noted that information about when key terms were established is necessary to better understand the market conditions at the time a contract was put into place.
6. In Order No. 2001-I, the Commission delineated Field Numbers 18, 23, and 25 through 44 as fields containing key terms where changes to those fields would require a change in the date reported in Field Number 22. We find that the current definition of “Commencement Date of Contract Terms” should include two additional key contractual terms: “Seller Company Name” (Field Number 16) and “Customer Company Name” (Field Number 17). For example, if the name of the Seller Company or the Customer Company changes, EQR filers must list a new “Commencement Date of Contract Terms” in Field Number 22. We will therefore add Field Numbers 16 and 17 to the list of specified fields in the definition of “Commencement Date of Contract Terms.” The definition of Field Number 22 will be revised, in relevant part, to “[t]he date the terms of the contract reported in fields 16, 17, 18, 23 and 25 through 44 (as defined in the data dictionary) became effective.”
C. Transmission-Related Data
7. In Order No. 2001, the Commission required public utilities to file EQRs summarizing contractual terms and conditions in their agreements for all jurisdictional services, including transmission service. In particular, Order No. 2001 required public utilities to file information in the EQR about standard and non-conforming transmission service agreements under their Open Access Transmission Tariffs (OATT) in the Contract Data Section of the EQR. However, based on our review of EQR data, many transmission providers are not filing the necessary transmission-related data. We affirm the requirement set forth in Order No. 2001 that public utilities, including RTOs and ISOs,must file information about generally applicable transmission service (i.e., standard forms of transmission service agreements) and any agreements with individual terms and conditions or unexecuted agreements for any service (i.e., non-conforming transmission service agreements) in the Contract Data Section of the EQR. Pursuant to Order No. 768, this requirement also applies to non-public utilities required to file EQRs that have an OATT on file with the Commission.
D. Time Zone Field Options
8. Currently, options associated with the “Time Zone” field, which are listed in Appendix D of the EQR Data Dictionary, include “UT (Universal Time) and “NA (Not Applicable).” “Universal Time” is a modern continuation of Greenwich Mean Time. Based on our review of EQR data, it appears that no EQR filers use the “Universal Time” option when reporting time zone information. Therefore, the Commission will eliminate this option from Appendix D. In addition, the Commission will eliminate the option “Not Applicable” from Appendix D because this is not an appropriate option for reporting time zone information.
E. Removal of E-Tag ID-Related Data Fields
9. In Order No. 768-B, the Commission rescinded the requirement for EQR filers to submit e-Tag ID data for each transaction reported in the EQR if an e-Tag was used to schedule the transaction. Accordingly, we will delete the fields related to the e-Tag ID reporting requirement (i.e., Field Numbers 75 through 78) from the EQR Data Dictionary.
To view the document for this Issuance, click here