01.23.2024 HData Team
On November 11th, the Federal Energy Regulatory Commission announced some new changes to its Form 1, Form 2, and others. These changes add new pages to annual reports, new subtotal numbers for gas delivery reports, and make it easier to report international addresses.
The changes are expressed as amendments to the FERC's taxonomies - electronic lists of line items - which are used to automate annual reports. These changes will become effective starting with Q1 2023 filings.
Good news: The HData Platform will automatically accommodate these changes and continue supporting historical formats.
Starting with your Q1 2023 forms, HData Compliance will automatically reflect the new pages, numbers, and international address. Meanwhile, HData's analysis tools will allow you to search the new data once forms reflecting the changes start to be filed.
What are the changes?
The FERC has announced the following key changes, starting with Q1 2023 quarterly reports:
- More international addresses will be allowed.
- On Form 1, Page 304, "Commercial and Industrial" combined totals will no longer be reported.
- On Forms 1 and 1F, new pages 414 and 419 are being added.
- On Form 2, Page 304, new subtotals are being added.
The changes will become effective on March 31, 2023.
More details are available on the FERC's eForms Refresh website.
What is HData doing?
HData Compliance will automatically reflect the changes once they become official. This means that HData Compliance will include the new pages and fields and delete the deprecated ones.
Meanwhile, Data's analysis tools will allow you to search within and among the new pages and fields.
Ready to learn more?
Schedule a 15-minute call to learn how HData can empower your compliance and business intelligence operations.
