XBRL US submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal regarding the scope and implementation of the Commission’s electric transmission incentives regulations and policy. The FERC proposal references form FERC-730, Report of Transmission Investment Activity, and asks if the data reported in this form should be provided in XBRL format.
Public utilities that have been granted incentive based rate treatment for specific transmission projects under provisions of 18 CFR 35.35 must file FERC-730. This FERC report, which must be submitted annually, includes projections, information that details the level and status of transmission investment, and the reason for delay, if any.
Recently, FERC announced that utilities will be required to report data on Forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714, in XBRL format. The XBRL US letter recommends that this report be provided in XBRL format because:
- FERC-730 includes financial, text and boolean data, which can be rendered by XBRL into machine-readable format, thus making it more timely, functional, and transparent to end users
- Utilities will be required to report other data in XBRL format, therefore to ensure consistency and comparability, all data reported by utilities should be in the same structured data format.
Read the letter: XBRL US Response to FERC Docket No PL19 3.PDF
