On July 21, FERC announced at its open meeting that the Connected Entity NOPR (Docket No. RM15-23) and the Ownership Information NOPR (Docket No. RM16-3) have been withdrawn. This was done in response to industry comments received on these two proposals.
In their place, FERC is issuing a new NOPR – Data Collection for Analytics and Surveillance and Market Based Rate Purposes (Docket No. RM16-17). The NOPR is designed to collect a more narrow set of information from market-based rate sellers as well as entities transacting virtuals and FTR products. The NOPR proposes to adopt certain changes to reduce the scope of ownership information that market-based rate sellers must provide, revise the information required in asset appendices and eliminate the requirement from Order No. 816 that market-based rate sellers submit corporate organizational charts. The NOPR includes a substantially narrowed definition of connected entity. Passive and debt relationships are excluded from the definition of connected entity, as well as structured transactions and affiliates not participating in FERC’s jurisdictional markets. Under the proposal, data will be collected in a streamlined manner using a new electronic format.
The charts (Attachments A-C) beginning at page 68 of the Data Collection NOPR provide a helpful overview of the new proposal and comparisons to the prior NOPRs.
FERC will hold a technical conference on the data dictionary that will accompany the NOPR on Thursday, August 11. Comments on the new NOPR are due 45 days from publication in the Federal Register.