The Federal Energy Regulatory Commission notified several regulated natural gas pipelines Tuesday that it will audit their financial and operational data as part of the agency’s plans to carry out an industrywide review.
Pipelines targeted in the latest round of audits are Natural Gas Pipeline Company of America, Dominion Transmission Inc., Texas Eastern Transmission and El Paso’s ANR Pipeline.
“The overall audit objective is to determine compliance with the Commission’s accounting requirements and regulations…Specifically, we will validate the accuracy of data filed with the Commission in the FERC Form 2,” the agency said in separate letters to each pipeline.
Regulated gas pipelines are required to submit a Form 2 to the Commission each year, providing the agency with detailed information about the finances and operations of their systems. The next Form 2 is due to be filed April 30.
The FERC audit will cover data from Jan. 1, 2000 through Dec. 31, 2003, according to the Commission. Dwight Siddell of the Commission’s Division of Regulatory Audits will oversee the team auditing the pipelines’ data.
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