The Federal Energy Regulatory Commission last week voted out a rule updating its requirements for regulated companies to record and report liabilities and other costs associated with the retirement or decommissioning of plant assets.

The new rule will apply to public utilities, licensees, natural gas pipelines and oil pipelines. As a result, the Commission will add new balance sheet and income statement accounts to the Uniform Systems of Accounts, and revise the agency’s Annual Report Forms (1, 1-F, 2, 2-A and 6) to include the new accounts [RM02-7].

The initiative, which will take effect 30 days after publication in the Federal Register, is part of the agency’s efforts to require “more transparent, complete and consistent” reporting by regulated energy companies.

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