FERC Goes Back to the Drawing Board on Data Collection Rule

On July 21, 2016, the Federal Energy Regulatory Commission (FERC) proposed a new data collection rule that would require market-based rate (MBR) sellers and entities trading virtual products or holding firm transmission rights (FTRs) in wholesale electric markets to report detailed information on their ownership structure, financial and legal connections with other entities (Connected Entities), and other related information. The proposed rule would also change the type and format of information that is required for MBR purposes. The new proposed rule replaces two earlier FERC rulemaking proposals on Connected Entities (RM15-23-000) (analyzed previously here) and ownership in MBR filings (RM16-3-000). Significant opposition to the earlier proposals sent FERC back to the drawing board, and FERC has now withdrawn both earlier proposals.