United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2003_register executive 2010-09-23 article Part II Rules and Regulations D09002ee1c817f013 D09002ee1c817f136 United States Department of Energy originator org United States Government Agency or Subagency United States Federal Energy Regulatory Commission originator org United States Government Agency or Subagency The Federal Energy Regulatory Commission (Commission) is amending its regulations to update the accounting and financial reporting requirements for asset retirement obligations under its Uniform Systems of Accounts for public utilities and licensees, natural gas and oil pipeline companies. The Commission is establishing uniform accounting and financial reporting for the recognition and measurement of liabilities arising from retirement and decommissioning obligations of tangible long-lived assets, and related costs. More specifically, the Commission is adding new balance sheet accounts to record the liability and the related asset, new income statement accounts to record the accretion of the liability and the depreciation of the related asset, adding and revising as necessary the definitions, general and plant instructions contained in the Uniform Systems of Accounts. The Commission is also revising the following Annual Reports: FERC Form Nos. 1, 1-F, 2, 2-A, and 6 to include the new accounts contained in the Final Rule. Finally, the Commission is revising its rate filing requirements to address the above-mentioned changes. An important objective of the rule is to provide sound and uniform accounting and financial reporting for the above types of transactions and events. The new accounts and changes to the FERC Forms will add visibility, completeness and consistency of the accounting and reporting of liabilities for asset retirement obligations and the related asset retirement costs, the accretion expense on the liability and the depreciation expense on the capitalized asset retirement costs. 68 FR 19610 https://www.govinfo.gov/app/details/FR-2003-04-21/03-9260 03-9260 fr21ap03-25 6717-01-P Docket No. RM02-7-000, Order No. 631 https://www.govinfo.gov/app/details/FR-2003-04-21/03-9260 https://www.govinfo.gov/content/pkg/FR-2003-04-21/html/03-9260.htm https://www.govinfo.gov/content/pkg/FR-2003-04-21/pdf/03-9260.pdf Electric Power Uniform System of Accounts Alaska Natural Gas Natural Gas Companies Pipelines Rate Schedules and Tariffs Electric Power Rates Electric Utilities Electricity Reporting and Recordkeeping Requirements 92 p. 19610 19701 68 FR 19610 Title 18 Part 101 18 CFR Part 101 Title 18 Part 154 18 CFR Part 154 Title 18 Part 201 18 CFR Part 201 Title 18 Part 346 18 CFR Part 346 Title 18 Part 352 18 CFR Part 352 Title 18 Part 35 18 CFR Part 35 Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations; Federal Register Vol. 68, Issue RULE 03-9260 II DEPARTMENT OF ENERGY Federal Energy Regulatory Commission 2003-05-21 Docket No. RM02-7-000, Order No. 631 6717-01-P 03-9260 Final rule.

The Federal Energy Regulatory Commission (Commission) is amending its regulations to update the accounting and financial reporting requirements for asset retirement obligations under its Uniform Systems of Accounts for public utilities and licensees, natural gas and oil pipeline companies. The Commission is establishing uniform accounting and financial reporting for the recognition and measurement of liabilities arising from retirement and decommissioning obligations of tangible long-lived assets, and related costs. More specifically, the Commission is adding new balance sheet accounts to record the liability and the related asset, new income statement accounts to record the accretion of the liability and the depreciation of the related asset, adding and revising as necessary the definitions, general and plant instructions contained in the Uniform Systems of Accounts. The Commission is also revising the following Annual Reports: FERC Form Nos. 1, 1-F, 2, 2-A, and 6 to include the new accounts contained in the Final Rule. Finally, the Commission is revising its rate filing requirements to address the above-mentioned changes. An important objective of the rule is to provide sound and uniform accounting and financial reporting for the above types of transactions and events. The new accounts and changes to the FERC Forms will add visibility, completeness and consistency of the accounting and reporting of liabilities for asset retirement obligations and the related asset retirement costs, the accretion expense on the liability and the depreciation expense on the capitalized asset retirement costs.

The rule will become effective May 21, 2003. Mark Klose (Project Manager), Office of the Executive Director, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-8283. Raymond Reid (Technical Information), Office of the Executive Director, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-6125. Robert T. Catlin (Technical Information), Office of Markets, Tariffs, and Rates, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-8754. Julia A. Lake (Legal Information), Office of the General Counsel, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-8370. Electric Power Uniform System of Accounts Alaska Natural Gas Natural Gas Companies Pipelines Rate Schedules and Tariffs Electric Power Rates Electric Utilities Electricity Reporting and Recordkeeping Requirements Electric utilities (Federal Power Act), natural gas companies (Natural Gas Act), and oil pipeline companies (Interstate Commerce Act): Asset retirement obligations; accounting, financial reporting, and rate filing requirements, FERCOnLineSupport@FERC.gov michael.miller@ferc.gov http://www.fasb.org/ http://www.ferc.gov Vol. 68, no. 76 Office of the Federal Register, National Archives and Records Administration 2003-04-21 continuing daily deposited born digital 398 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2003-04-21 P0b002ee1809e2828 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr21ap03 https://www.govinfo.gov/app/details/FR-2003-04-21 https://www.govinfo.gov/content/pkg/FR-2003-04-21/pdf/FR-2003-04-21.pdf https://www.govinfo.gov/content/pkg/FR-2003-04-21/xml/FR-2003-04-21.xml fdlp 19321 19705 DGPO 2010-09-23 2024-06-07 FR-2003-04-21 machine generated eng FR FR-2003-04-21 68 76