The Federal Energy Regulatory Commission has established regulatory accounting and financial reporting requirements for its jurisdictional entities in the electric, natural gas, and oil pipeline industries. These requirements play a vital role in the Commission’s strategy of setting just and reasonable cost-of-service rates. The foundation of the Commission’s accounting program is the Uniform System of Accounts codified in the Commission’s regulations. In addition, the Commission issues accounting rulings relating to specific transactions and applications through orders and Chief Accountant guidance letters. This body of accounting regulations, orders, and guidance letters comprises the Commission’s accounting and financial reporting requirements which promote consistent, transparent, and decision-useful accounting information for the Commission and other stakeholders. These accounting and financial reporting requirements take into consideration the Commission’s ratemaking policies, past Commission actions, industry trends, and external factors (e.g., economic, environmental, and technological changes, and mandates from other regulatory bodies) that impact the industries under the Commission’s jurisdiction.
Electric Public Utilities & Licensees, Natural Gas, and Oil Pipeline companies within FERC jurisdiction are required to maintain their books and records in accordance with the Commission's Uniform System of Accounts (USofA). The USofA provides basic account descriptions, instructions, and accounting definitions that are useful in understanding the information reported in the Annual Report Form Nos. 1, 1-F, 2, 2A, 6, and 60, and Quarterly Report Form Nos. 3Q and 6Q. Hard copies of all four systems of accounts are available from the U.S. Government Printing Office. Ask for Code of Federal Regulations, Title 18, Conservation of Power and Water Resources, Parts 1-399, Revised as of April 1 of the current year. The toll-free telephone number is 1-866-512-1800 or in the DC area at 202-512-1800. They can also be purchased online at http://bookstore.gpo.gov/
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Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 1, Annual Report Form No. 1-F, and Quarterly Report Form No. 3-Q.
Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 2, Annual Report Form No. 2-A and Quarterly Report Form No. 3-Q.
Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 6 and Quarterly Report Form No. 6-Q.
Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 60.
Periodically, the Commission will issue orders to revise its Uniform System of Accounts and financial reporting requirements through a rulemaking process.