On March 24th, the Federal Energy Regulatory Commission (FERC) announced that it approved the October 2023 rule proposal that would adopt eXtensible Business Reporting Language-Comma-Separated Values (XBRL‑CSV) as the standard for filing the Electric Quarterly Report (EQR). The new system is intended to modernize and simplify data collection, enhance data quality, improve market disclosure practices, and reduce long‑term compliance costs. The new rule is the most substantial update to the EQR system since its inception in 2002, when it was founded with the purpose of improving the efficacy, adaptability, and transparency of reporting for all market participants.
Under the rulemaking, the FERC will:
- establish one standard XBRL‑CSV submission method
- extend the quarterly filing window
- require RTOs and ISOs to create standardized transaction data reports that sellers may use to prepare filings
- provide pre‑formatted templates to simplify submissions and offer an efficient process for filers whose data does not change from quarter to quarter
For further details, please see the Order No. 917; Filing Process and Data Collection for the Electric Quarterly Report final rule on the Federal Register’s website. The final rule will be effective 60 days following its publication in the Federal Register.
Source:
Final Rule: Order No. 917; Filing Process and Data Collection for the Electric Quarterly Report (federalregister.gov)
