FERC considers extending XBRL to Form 730
The US Federal Energy Regulatory Commission (FERC), which switched to XBRL for a number of utilities reporting forms last year, has published a rule proposal to revise transmission incentive policies and extend XBRL to Form 730.
In the proposal FERC notes that further adopting XBRL would allow the reporting of comprehensive, consistent, interoperable data, and would lead to greater data quality through the use of clear, authoritative definitions and easy validation checks.
In terms of specifics, Form 730 contains tables for Actual and Projected Electric Transmission Capital Spending and Project Detail, and the suggested change to XBRL here would be consistent with the planned change to XBRL for Form 1 reporting.
We say: FERCs efforts to use the standard to modernise and enhance reporting from energy utilities within the US are terrific. In reality, energy policy makers all over the world need accurate, timely and reliable digital data from their own energy utilities and services in order to make effective decisions in an era of unprecedented change in energy provision.
Read the proposed rule here.