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.
Accounting and Financial Reporting Regulations
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/
Click on the categories below to view additional information.
Electric Gas Oil Centralized Service
USofA 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.
Electric Uniform System of Accounts
USofA 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.
Natural Gas Uniform System of Accounts
USofA 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.
Oil Uniform System of Accounts
USofA Provides basic account descriptions and accounting definitions that are useful in understanding the information reported in the Annual Report Form No. 60.
Centralized Service Company Uniform System of Accounts
Accounting Rulemakings
Periodically, the Commission will issue orders to revise its Uniform System of Accounts and financial reporting requirements through a rulemaking process. Learn More
Docket No. Date Title Order No. 784-A
(RM11-24-000 & AD10-13-000)
February 20, 2014
Third-Party Provision of Ancillary Services; Accounting and Financial Reporting for New Electric Storage Technologies (Order Granting Clarification In Part and Denying Clarification In Part)
Order No. 784
(RM11-24-000 & AD10-13-000)
July 18, 2013
Third-Party Provision of Ancillary Services; Accounting and Financial Reporting for New Electric Storage Technologies
Order No. 715
(RM08-5-000)
September 19, 2008
Revisions to Forms, Statements and Reporting Requirements for Electric Utilities and Licensees
Order No. 710
(RM07-9-000)
March 21, 2008
Revisions to Forms, Statements, and Reporting Requirements for Natural Gas Pipelines
Order No. 694
(RM07-2-000)
April 19, 2007
Accounting and Reporting Requirements for Nonoperating Public Utilities and Licensees Final Rule
Order No.684
(RM06-11-000)
October 19, 2006
Financial Accounting, Reporting and Records Retention Requirements Under the Public Utility Holding Company Act of 2005 Final Rule
Order No.685
(RM06-25-000)
October 19, 2006
Electronic Filing of FERC Form No. 60
RM06-11-000
Notice of Technical Conference
April 24, 2006
Financial Accounting, Reporting and Records Retention Requirements Under the Public Utility Holding Company Act of 2005; Notice of Proposed Rulemaking
Order No. 668-A
(RM04-12-001)
April 20, 2006
Order No. 668-A, Final Rule Denying Rehearing, Accounting and Financial Reporting for Public Utilities Including RTOs
RM04-12-000
December 29, 2005
Notice Granting Motion for Extension of Time for Order No. 668
Order No. 668
(RM04-12-000)
Appendix B
December 16, 2005
Order No. 668, Final Rule; Accounting and Financial Reporting for Public Utilities Including RTOs
RM03-8-002
March 23, 2005
Order Delaying Implementation of the Corporate Officer's Certification Statement for FERC Annual Report Forms
Order No. 646-A
(RM03-8-001)
June 2, 2004
Order No. 646-A, Final Rule; Order on Rehearing, Quarterly Financial Reporting and Revisions to the Annual Reports
Order No. 646
(RM03-8-000)
February 11, 2004
Order No. 646, Final Rule; Quarterly Financial Reporting and Revisions to the Annual Reports
(RM02-14-000 and 001)
October 23, 2003
Order No. 634-A, Final Rule, Regulation of Cash Management Programs
Order No. 631
(RM02-7-000)
Order on Rehearing
April 9, 2003
Order No. 631, Accounting, Financial Reporting and Rate Filing Requirements for Asset Retirement Obligations
Final Rule
Order No. 627
(RM02-3-000)
Notice of Correction
October 10, 2002
Order No. 627, Accounting and Reporting of Financial Instruments, Comprehensive Income, Derivatives and Hedging Activities
Final Rule
Order No. 581
(RM95-4-000)
September 28, 1995
Revisions to Uniform System of Accounts, Forms, Statements, and Reporting Requirements for Natural Gas Companies
Order No. 552
(RM92-1)
March 31, 1993
Order No. 552 , Revision to Uniform Systems of Accounts to Account for Allowances under the Clean Air Act Amendments of 1990 and Regulatory-Created Assets and Liabilities and to Form Nos. 1, 1-F, 2 and 2-A
x Close Formal Accounting Guidance
The Commission and its Chief Accountant provide guidance to, and respond to inquiries from, regulated entities on the implementation of standards issued by the Financial Accounting Standards Board and existing or emerging industry-wideor entity specific accounting issues within the context of the Uniform Systems of Accounts. The advice provided in guidance letters issued by the Chief Accountant represent the views of the Commission's accounting staff and serve as controlling accountingguidance for regulated entities unless or until superseded by rehearing or other Commission action. Accounting Guidance Learn More
Docket No. Title AI20-1-000
Letter to all Jurisdictional Public Utilities and Licensees, Natural Gas Companies, and Centralized Service Companies regarding Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract.
AI19-1-000
Letter To All Jurisdictional Public Utilities And Licensees, Natural Gas Companies, And Centralized Service Companies regarding Accounting and Financial Reporting for Leases
AI18-1-000
Accounting and Financial Reporting for Pensions and Post-retirement Benefits other than Pensions
AI14-1-000
Accounting and Reporting Guidance for New Electric Storage Technologies
AI11-1-000
Revision to Accounting Release No. 5, Capitalization of Allowance for Funds Used During Construction
AI07-2-000
Accounting and Financial Reporting for Uncertainty in Income Taxes
AI07-1-000
Commission Accounting and Reporting Guidance to Recognize the Funded Status of Defined Benefit Postretirement Plans
AI05-1-000
Order on Accounting for Pipeline Assessment Costs
AI05-1-001
Order Denying Rehearing and Providing Clarification
AI04-2-000
Recognition of a Regulatory Asset for Minimum Pension Liability
AI04-1-000
Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity
AI02-2-000
Accounting for Consolidated Money Pools
AI02-1-000
Accounting for Asset Retirement Obligations
AI01-2-000
Operating and Administering an Electric Power Exchange
AI01-1-000
Accounting and Reporting for Certain Types of Financial Instruments and Hedging Activities
AI99-2-000
Records Storage Media
AI98-2-000
Accounting for Deferred Income Taxes on Intercompany Property Transfers
AI93-5-000
Accounting for Income Taxes
AI93-4-000
Accounting for Postretirement Benefits Other than Pensions
x Close Accounting Releases Learn More
Docket No. Title AR-17
Accounting for Consolidated Money Pools
AR-16
Operating and Administering an Electric Power Exchange
AR-15
Vintage year accounting for general plant accounts
AR-14
Accounting for settlement amounts in Account 555, Purchased power
AR-13
Allowance for Funds Used During Construction
AR-12
Discriminatory Employment Practices
AR-11
Collections and Payments to GRI
AR-10
Reporting Interest During Construction
AR-9
Revenues Received from States for Collecting and Remitting Tax Payments
AR-8
Hydrostatic Testing of Gas Main and Pipelines
AR-7
Gas Turbine Generating Plants
AR-6
Income Tax Effect of Non-recurring Gains or Losses
AR-5
Capitalization of Allowance for Funds Used During Construction
AR-4
Regulatory Commission Expenses
AR-3
Nonproductive Gas Well Drilling Costs
AR-2
Deferrals of Tax Benefits
AR-1
Antitrust Violations
The Commission's Uniform Systems of Accounts provide that in order to maintain uniformity of accounting, regulated entities must submit questions of doubtful interpretations to the Commission for consideration and decision. Accordingly,the Commission’s Chief Accountant provides formal accounting guidance in response to accounting requests filed with the Commission. Informal accounting guidance may also be requested and obtained from accounting staff via email ([email protected]) and phone ((202) 502-8877). Browse by Topic
Finding the needed accounting information is now easier than ever. Simply click on a topic and all of the related material will appear to include rulemakings, guidance, and releases.
Account 555, Purchased Power
AR-14
Accounting for settlement amounts in Account 555, Purchased power
Allowance for Funds Used During Construction
AR-5
Capitalization of Allowance for Funds Used During Construction
AR-13
Allowance for Funds Used During Construction
Antitrust Violations
AR-1
Antitrust Violations
Asset Retirement Obligation
AI02-1-000
Accounting for Asset Retirement Obligations
RM02-7-000
Order 631, Accounting, Financial Reporting and Rate Filing Requirements for Asset Retirement Obligations
RM02-7-001
Order 631-A, Order on Rehearing
Cash Management Practices
RM02-14
Order 634-A, Regulation of Cash Management
Collections and Payments
AR-11
Collections and Payments to GRI
Comprehensive Income
RM02-3-000
Notice of Correction
Order 627, Accounting and Reporting of Financial Instruments, Comprehensive Income, Derivatives and Hedging Activities
Consolidated Money Pools
AI02-2-000
Accounting for Consolidated Money Pools
Discriminatory Employment Practices
AR-12
Discriminatory Employment Practices
Electric Power Exchange
AR-16
Operating and Administering an Electric Power Exchange
Equity
AI04-1-000
Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity
Financial Instruments
AI04-1-000
Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity
AI01-1-000
Accounting and Reporting for Certain Types of Financial Instruments and Hedging Activities
RM02-3-000
Notice of Correction
Order 627, Accounting and Reporting of Financial Instruments, Comprehensive Income, Derivatives and Hedging Activities
Gas Turbine Generating Plants
AR-7
Gas Turbine Generating Plants
Gas Research Institute (GRI)
AR-11
Collections and Payments to GRI
Hedging Activities
AI01-1-000
Accounting and Reporting for Certain Types of Financial Instruments and Hedging Activities
RM02-3-000
Notice of Correction
Order 627, Accounting and Reporting of Financial Instruments, Comprehensive Income, Derivatives and Hedging Activities
Hydrostatic Testing of Gas Main and Pipelines
AR-8
Hydrostatic Testing of Gas Main and Pipelines
Income Taxes
AI98-2-000
Accounting for Deferred Income Taxes on Intercompany Property Transfers
AI93-5-000
Accounting for Income Taxes
AR-6
Income Tax Effect of Non-recurring Gains or Losses
Intercompany Property Transfers
AI98-2-000
Accounting for Deferred Income Taxes on Intercompany Property Transfers
Interest
AR-10
Reporting Interest During Construction
Liabilities
AI04-1-000
Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity
Material Deviations
FAQs: Accounting - Material Deviations
updated 3/26/10
Frequently Asked Questions regarding Material Deviations as a result of the Commissions ruling in the Southern Star case
Nonproductive Gas Well Drilling Costs
AR-3
Nonproductive Gas Well Drilling Costs
Non-recurring Gains or Losses
AR-6
Income Tax Effect of Non-recurring Gains or Losses
Postretirement Benefits
AI93-4-000
Accounting for Postretirement Benefits Other than Pensions
Records Storage Media
AI99-2-000
Records Storage Media
Regulatory-Created Assets and Liabilities
RM92-1
Order 552, Revision to Uniform Systems of Accounts to Account for Allowances under the Clean Air Act Amendments of 1990 and Regulatory-Created Assets and Liabilities and to Form Nos. 1, 1-F, 2 and 2-A
Regulatory Commission Expenses
AR-4
Regulatory Commission Expenses
Revenues Received from States for Collecting and Remitting Tax Payments
AR-9
Revenues Received from States for Collecting and Remitting Tax Payments
Tax Benefits Deferrals
AR-2
Deferrals of Tax Benefits
Vintage Year Accounting
AR-15
Vintage year accounting for general plant accounts