Friday, February 28, 2014

FERC sets New Deadlines for the Web-Based Filing of Electronic Quarterly Reports

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On February 28, 2014, the Federal Energy Regulatory Commission (FERC) issued an order extending and setting the deadlines to file electric quarterly reports (EQRs) for the third quarter (Q3) 2013, the fourth quarter (Q4) 2013 and the first quarter (Q1) 2014. FERC also reminded EQR filers that the deadline to file the second quarter (Q2) 2014 EQRs has not been extended.
FERC set the EQR filing periods as follows:
  • Q3 2013 EQRs must be filed between April 1, 2014 and April 30, 2014
  • Q4 2013 EQRs must be filed between May 1, 2014 and May 31, 2014
  • Q1 2014 EQRs must be filed between June 1, 2014 and June 30, 2014
  • Q2 2014 EQRs must be filed between July 1, 2014 and July 31, 2014, the normal filing period
All subsequent EQRs also must be filed during their normal filing periods.
FERC recognized the need for EQR filers to become proficient with the new electronic EQR filing system and stated that it would not assess penalties against parties that make best efforts for Q3 2013, Q4 2013 and Q1 2014 EQRs. While FERC did not specifically define “best efforts,” it did encourage parties to file early in each filing period and use the “Test-Only” functionality to address issues before the filing deadline.
As a reminder, FERC Order Nos. 768 and 768-A require non-jurisdictional market participants, such as municipal agencies and electric cooperatives, to file EQRs beginning with the Q3 2013 EQRs if they have more than a de minimis market presence. Additional EQR updates are available on the FERC EQR webpage.
If you have questions or would like more information on the issues discussed in this article, please feel free to contact us.
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