FERC Proposes Changes To EQR To Improve Accuracy In Reporting Simultaneous Exchanges

On March 15, FERC issued a Notice of Proposed Rulemaking to revise the Electric Quarterly Report (EQR) Data Dictionary so parties can more accurately report simultaneous exchanges.¹ FERC proposed adding "Simultaneous Exchange" to the list of available Product Names in the EQR to enable parties to differentiate simultaneous exchange transactions from transmission service. FERC recently expressed concerns that certain simultaneous exchange transactions could resemble transmission service without the reservation of service on the transmission system. In both situations, a party places power onto the power grid at a delivery point and simultaneously receives power at another point. However, a simultaneous exchange occurs when a pair of wholesale power transactions between the same counterparties are arranged as part of the same negotiations and involve overlapping delivery periods and volumes of power purchased and sold.