By August 2, 2021, Market-Based Rate (“MBR”) sellers must populate, organize, and update their asset appendix information in a new database to comply with the Federal Energy Regulatory Commission's ("FERC") Order No. 860. A test sandbox for exploring features and understanding the new system is available now and FERC’s live database becomes available for actual compliance submittals beginning April 1, 2021. The new relational database will replace the current Excel forms used to submit asset appendices to FERC.
Bracewell LLP’s 30-minute webinar will provide an overview of the new requirements, how the new system will work, and how MBR sellers can begin to prepare now. The webinar will take place from 1 - 1:30 p.m. CT on Tuesday, March 4, 2021. Click here to register.
Among other topics, the webinar will cover:
• Changes implemented through FERC Order Nos. 860 and 861;
• How the new relational database will function;
• Implementation deadlines;
• What companies can do to prepare; and
• How sellers will use the database when making future filings.
Further Information on FERC Order No. 860:
In 2019, FERC issued Order No. 860, requiring MBR Sellers to submit market, asset, and ownership information in .XML format to a new relational database (similar to eTariff filings). The purpose of the relational database is to streamline the market information reporting process currently accomplished through Excel-based asset appendices while allowing for greater transparency.
By August 2, 2021, companies seeking to obtain or retain MBR authority are required to submit much of the same information included in the current Excel form, organized according to a newly published data dictionary compatible with the new database. Ultimately, FERC intends the relational database to reduce Sellers’ reporting burden and make market information more accessible to FERC staff. Once the relational database is functional, it will automatically cross-reference data regarding related assets and generate an asset appendix. While the relational database is expected to make MBR reporting less onerous over time, these initial filings will require careful preparation.
Bracewell is committed to assisting clients to prepare for and comply with Order 860. We hope you will join us for the webinar, and please let us know we can be of any assistance as you prepare.