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FERC versus GAAP reporting considerations
March 2026 update
The FERC reporting guide provides many key historical FERC reporting considerations to be aware of and serves as a useful tool during FERC reporting season.
One significant change for FERC Form 1 filers was the adoption of FERC Order 898, effective January 1, 2025. This order provides several new accounts for renewable and storage assets and related activities. It also codifies the accounting and associated accounts to use for environmental credits. In addition, there are new accounts related to software, hardware, and communication equipment.
Outside of FERC Order 898, there are not significant new FERC accounting and reporting items for companies to consider. Similarly, there were limited changes in 2025 regarding US Generally Accepted Accounting Principles (GAAP) significantly impacting regulated entities, which is often another indicator of new FERC-to-GAAP differences.
Although there were few FERC or GAAP changes to accounting or reporting in 2025, this FERC reporting guide describes a number of FASB pronouncements and exposure drafts with potential accounting and reporting considerations in future years.
March 2026
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 enhanced outcomes related to interactions with regulators.
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