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.

Financial reporting to the Federal Energy Regulatory Commission

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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Gavin S. Hamilton

US Energy, Utilities & Mining Assurance Leader, PwC US

Sean P. Riley

US Energy, Utilities, & Mining Partner, PwC US

Richard Call

US Energy, Utilities & Mining Partner, PwC US

Mark Panza

US Energy, Utilities & Mining Managing Director, PwC US

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