FERC-915, Public Utility Market-Based Rate Authorization Holders – Records Retention Requirements

In accordance with the Federal Power Act (FPA), the Department of Energy Organization Act (DOE Act), and the Energy Policy Act of 2005 (EPAct 2005), the Commission regulates the transmission and wholesale sales of electricity in interstate commerce, monitors and investigates energy markets, uses civil penalties and other means against energy organizations and individuals who violate Commission rules in the energy markets, administers accounting and financial reporting regulations, and oversees conduct of regulated companies. The Commission has the regulatory responsibility under section 205 of the Federal Power Act to ensure that wholesale sales of electricity are just and reasonable and provided in a non-discriminatory manner. Due to 18 CFR 35.41(d), the Commission requires all sellers with market-based rates to retain all relevant sales documents for five years. Relevant documents include all information upon which a seller billed the prices it charged for electric energy or electric energy products sold pursuant to seller's market-based rate tariff and the prices it reported for use in price indices. In addition to the five–year record retention requirements previously highlighted, the five-year statute of limitations applies where the Commission seeks civil penalties for violations of the Anti-Manipulation rule or other rules, regulations, or orders to which the price information may be relevant.

The latest form for FERC-915, Public Utility Market-Based Rate Authorization Holders – Records Retention Requirements expires 2023-01-31 and can be found here.