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Federal Energy Regulatory Commission Update

DISCLAIMER. The views and comments presented are mine alone and do not represent, nor are they to be interpreted to represent the views, comments, or positions of the Federal Energy Regulatory Commission, individual Commissioners or other members of the Commission's staff.. Table of Contents. Or

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Federal Energy Regulatory Commission Update

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    1. Federal Energy Regulatory Commission Update Presented at Fall 2005 meting of the NARUC Staff Subcommittee on Accounting and Finance by James Guest Chief Accountant Federal Energy Regulatory Commission

    2. DISCLAIMER The views and comments presented are mine alone and do not represent, nor are they to be interpreted to represent the views, comments, or positions of the Federal Energy Regulatory Commission, individual Commissioners or other members of the Commission’s staff.

    3. Table of Contents Organizational Changes FERC Quarterly Financial Reporting Pipeline Integrity Management Programs ISO/RTO Accounting Income Tax Matters Energy Policy Act of 2005 Other Initiatives

    4. Organizational Update New FERC Chairman - Joseph Kelliher Chief of Staff – Daniel Larcamp Director of OMTR – Shelton Cannon Initial Agenda Chairman’s initial agenda: Reforming the Commission’s transmission access rules (to address complaints of continuing undue discrimination) California refunds – been 5 yrs - lets put it to bed and move on Gas Storage pricing – market based and cost based – reforms may be needed to both with goal being expanded storage capacity and efficient use of existing capac RTO costs – costs are rising and additional action by commission is needed to ensure the costs are just and reasonable. Chairman’s initial agenda: Reforming the Commission’s transmission access rules (to address complaints of continuing undue discrimination) California refunds – been 5 yrs - lets put it to bed and move on Gas Storage pricing – market based and cost based – reforms may be needed to both with goal being expanded storage capacity and efficient use of existing capac RTO costs – costs are rising and additional action by commission is needed to ensure the costs are just and reasonable.

    5. Order 646: Quarterly Financial Reporting

    6. Quarterly Financial Reporting Established quarterly financial reports for jurisdictional utilities beginning with first quarter 2004 Compliance: 207 of the 213 Major Utilities filed 104 of the 115 gas pipelines filed 129 of the 137 oil pipelines filed Pending waiver requests

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