FERC Issues New Rules Governing the Accounting, Reporting and Rate Filing Requirements for Asset Retirement Obligations

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Accounting,
Asset,
Asset Management,
Business Operations,
Jones Day,
Operational Planning
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Jones Day

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Overview: This is an energy bulletin that states that the Federal Energy Regulatory Commission (“FERC” or “Commission”) has issued new regulations that address the accounting, financial reporting, and rate filing requirements applicable to asset retirement obligations imposed on public utilities, hydroelectric licensees, natural gas companies, and oil pipeline companies. An asset retirement obligation is a legal obligation associated with the retirement of a tangible, long-lived asset that an entity is required to retire as a result of an existing law, statute, ordinance, or contract. Read the article to get the details of the words of commission that has explained how new rule would improve consistency in accounting and reporting of legal obligations related to the retirement of tangible, long-lived assets.

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Format: PDF | Size: 1,925KB | Date: Apr 2003 | Pages: 2

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