§2.Modernization of reporting information and data under the Federal Power Act
This section directs the Federal Energy Regulatory Commission (FERC) to issue a rule modernizing and standardizing information and data reported to FERC under the Federal Power Act by transmitting utilities (i.e., owners or operators of facilities for transmitting electric energy in interstate commerce) and Transmission Organizations (i.e., regional transmission organizations and independent system operators). (Thus, the rule aims to enhance transparency into transmission project lifecycles, costs, capital structures, and system performance to support ratepayer affordability and sector understanding.)
The required report content covers (1) project lifecycle details (e.g., milestones, classification as new construction/upgrade/rebuild, development history, location, nameplate capacity/length/voltage, and originating planning process); (2) costs and economic justifications (e.g., projected/actual costs for projects/renewals/replacements/maintenance, cost allocation, cost-benefit analyses, competitive solicitation outcomes, and benefit classifications); (3) capital structure and rate of return (e.g., returns on equity/debt/preferred stock, capital structure percentages, weighted average return, incentive adders, and double-leveraging assessments); (4) congestion-related costs borne by ratepayers/power suppliers/distribution customers; (5) technical/non-technical losses; (6) disaggregated interconnection costs (e.g., study fees, reservation payments, attachment facilities, network upgrades, and system-wide estimates); (7) projected/actual system capacity, load, and energy delivered; (8) use of capital-efficient advanced technologies (e.g., hourly usage, locations, types); and (9) additional metrics determined necessary by FERC.
Additionally, transmitting utilities and Transmission Organizations must submit no less than quarterly reports on interconnection queues and study models.
Reports must use standardized, machine-readable formats via templates/tools as appropriate; contain no blank cells unless exempted; include defined projections with assumptions/methodologies; and be publicly accessible through a single user-friendly web interface supporting search, filter, and download functions. Transmitting utilities and Transmission Organizations may request exemptions from format requirements.