FERC recently issued a notice of extension of time further extending, by three months, the compliance dates for FERC’s new market-based rate (MBR) relationship database filing requirements under Order No. 860. This extension follows multiple prior extensions. Meeting these new deadlines is required of all public utilities who either currently hold MBR authority or will request MBR authorization to engage in sales for resale of electric energy, capacity, or ancillary services at marked-based or negotiated rates. Given the complexity of the new reporting requirements, the deadlines extension will provide valuable additional time to entities to prepare their baseline submission.
FERC issued Order No. 860 in 2019, in RM16-17-000, amending FERC’s MBR regulations to require that public utilities submit certain MBR information in XML file format through a new relational database. This information includes the identity of each MBR seller’s “ultimate upstream affiliate,” asset appendix information (including a new requirement to report long-term firm purchases) for the seller and its affiliates that do not have MBR authority, and indicative screen information. Sellers are also required to update the relational database on a 30-day cycle (which are not “filings” and do not create dockets or trigger FERC action), and make change in status filings quarterly, if applicable.
The new deadlines are as follows:
|
Activity |
Most Recent Compliance Schedule |
Revised, Three-Month Extension Schedule |
|
Baseline submissions are due |
By November 2, 2021 |
By February 1, 2022 |
|
First change in status filings under new timelines are due |
By November 31, 2021 |
By March 3, 2022 |
|
Second change in status filings under the quarterly reporting requirement are due |
January 31, 2022 |
April 29, 2022 |
FERC noted that future notice of change in status obligations proceeding the “second change in status filings” will align with the timeline used for Electric Quarterly Reports.