Financial reporting to the Federal Energy Regulatory Commission
FERC versus GAAP reporting considerations
February 2021 Update
During 2020, FERC issued several pieces of accounting guidance that should be helpful for jurisdictional companies. However, as it relates to U.S. Generally Accepted Accounting Principles (GAAP), there was limited new guidance adopted by regulated entities that would have a significant impact. As a result, we would not expect a notable increase in the potential for FERC to GAAP differences as companies prepare their 2020 FERC financial statements. As a result, this document should serve as a minor update to our last publication issued in March of 2020.
How PwC can help
PwC’s Complex Accounting & Regulatory Solutions is dedicated to helping companies in the energy, power and utilities industries manage regulatory risk and help solve complex accounting problems related to regulatory accounting. Our seasoned team has deep experience working with regulated entities and their regulators. We can help companies reduce risk and achieve optimal outcomes related to interactions with regulators.
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