FERC Form 552 "Annual Report of Natural Gas Transactions"

What Is FERC Form 552?

This is a legal form that was released by the Federal Energy Regulatory Commission and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • The latest available edition released by the Federal Energy Regulatory Commission;
  • Easy to use and ready to print;
  • Yours to fill out and keep for your records;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of FERC Form 552 by clicking the link below or browse more documents and templates provided by the Federal Energy Regulatory Commission.

ADVERTISEMENT
ADVERTISEMENT

Download FERC Form 552 "Annual Report of Natural Gas Transactions"

177 times
Rate (4.6 / 5) 12 votes
Form No. 552
THIS FILING IS
OMB No. 1902-0242
Expires (11/30/2021)
Item 1: □ An Initial (Original) Submission OR □ Resubmission,
No.
FERC TRANSACTION REPORT
FERC
FORM No. 552: Annual Report of
Natural Gas Transactions
These reports are mandatory under the Natural Gas Act, Section 23(a)(2), and 18 CFR Parts 260.401.
Failure to report may result in criminal fines, civil penalties, and other sanctions as provided by law. The
Federal Energy Regulatory Commission does not consider these reports to be of a confidential nature.
Year of Report
Exact Legal Name of Respondent (Company)
End of
2018
i
FERC FORM No. 552 (R2.3)
Form No. 552
THIS FILING IS
OMB No. 1902-0242
Expires (11/30/2021)
Item 1: □ An Initial (Original) Submission OR □ Resubmission,
No.
FERC TRANSACTION REPORT
FERC
FORM No. 552: Annual Report of
Natural Gas Transactions
These reports are mandatory under the Natural Gas Act, Section 23(a)(2), and 18 CFR Parts 260.401.
Failure to report may result in criminal fines, civil penalties, and other sanctions as provided by law. The
Federal Energy Regulatory Commission does not consider these reports to be of a confidential nature.
Year of Report
Exact Legal Name of Respondent (Company)
End of
2018
i
FERC FORM No. 552 (R2.3)
 
INSTRUCTIONS FOR FILING THE FERC FORM NO. 552
GENERAL INFORMATION
I.
Purpose
FERC Form No. 552 collects transactional information from natural gas market participants.
The filing of this information is necessary to provide information regarding physical natural
gas transactions that use an index and transactions that contribute to, or may contribute to
gas price indices. This form is considered to be a non-confidential public use form.
II.
Who Must Submit
Physical natural gas buyers and sellers must complete and file the form annually if their
"reportable" natural gas purchases or sales are equal to or greater than 2.2 trillion British
.
Thermal Units (TBtu) or 2.2 million (2,200,000) MMBtu in the reporting year
Note: Whether a Respondent operates under a Blanket Certificate is no longer used to determine who
must submit the form. See Order 704-C.
III. What and Where to Submit
1. Complete all pages of the form, if your "reportable" physical natural gas purchases or
sales in the reporting year were equal to or greater than 2.2 million MMBtu or 2.2 TBtu.
(For example, if your reportable purchases were 1.0 million MMBtu and your reportable
sales were 2.8 million MMBtu, you must file the form)
2. Do not complete the form, if both your "reportable" physical natural gas purchases and
sales in the reporting year were less than 2.2 million MMBtu. (For example, if reportable
purchases are 1.8 million MMBtu and reportable sales are .75 million MMBtu, do not file
the form).
a. Note: Not all transactions involving physical natural gas are "reportable". Only
transactions that use an index, or that contribute to, or may contribute to the
formation of a gas index should be reported. See Definitions and lines 2-7 on page 4.
b. Review the Definitions to determine whether your "reportable" purchases or sales
meet or exceed this de minimis threshold of 2.2 million (2,200,000) MMBtu.
c. Signature of Company Officer - The Commission accepts a typed name in block 14
on page 1 as an electronic signature pursuant to 18 CFR § 385.2005(c). Type the
name of the officer whose signature legally binds the company with respect to the
accuracy and completeness of the submission.
d. Filing Form No. 552 is a two step process that requires filers to:
i. Download Adobe Acrobat Reader version 8.0 or greater.
ii. Download, complete, and save a fillable Form No. 552 PDF discussed above to
your computer.
iii. eFile the saved Form No. 552 PDF to the Commission.
iv. Paper and email filings will not be accepted.
 
ii
 
e. Users may obtain additional blank copies of FERC Form No. 552 for reference free of
charge from: http://www.ferc.gov/docs-filing/forms.asp#552.
f.
Copies may also be obtained from the Public Reference and Files Maintenance
Branch, Federal Energy Regulatory Commission, 888 First Street, NE, Room 2A,
Washington, DC 20426 or by calling (202) 502-8371.
IV. When to Submit
st
FERC Form No. 552 must be
by May 1
of the year following the reporting year
eFiled
(18 CFR § 260.401).
V.
Where to Send Comments on Public Reporting Burden
The public reporting burden for the FERC Form No. 552 collection of information is estimated
to average 10 hours per response, including the time for reviewing instructions, searching
existing data sources, gathering and maintaining the data-needed, and completing and
reviewing the collection of information. This estimate was noted in the Notice of Proposed
Rulemaking and in the Final Rule (RM07-10-000) and addressed by commenters.
Filers may send additional comments regarding these burden estimates or any aspect of
these collections of information, including suggestions for reducing burden, to the Federal
Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426 (Attention:
Information Clearance Officer, CIO) or email DataClearance@FERC.gov; Office of
Management and Budget, via email to the Office of Information and Regulatory Affairs at
oira_submission@omb.gov (Attention: Federal Energy Regulatory Commission Desk
Officer). No person shall be subject to any penalty if any collection of information does not
display a valid control number (44 U.S.C. § 3512 (a)).
GENERAL INSTRUCTIONS
All Respondents must identify themselves annually by completing the first part of
I.
Form No. 552.
Aggregation across Affiliates (or members of a public joint action agency) is
II.
permitted, though not required. The Respondent must complete the “Schedule of
Reporting Companies” (page 3) which lists those Affiliates and a separate “Price
Index Reporting” schedule for itself and each affiliate.
Asset managers may not report aggregated information for their customers in Form
III.
No. 552. Customers of asset managers are individually responsible for determining
whether they must file Form No. 552. An asset manager may itself be required to
submit Form No. 552 to the extent that its activities are not undertaken on behalf of
an asset management client.
Report all gas quantities in trillion British Thermal Units (TBtu) unless the schedule
IV.
specifically requires the reporting in another unit of measurement. (Divide MMBtu by
1,000,000 to convert volumes to TBtu.)
For reported volumes, enter numbers to the tenth unit only, except where otherwise
V.
noted.
 
iii
 
Enter volumes of “reportable” physical natural gas as explained in the definitions.
VI.
Complete each question fully and accurately, even if it has been answered in a
VII.
previous report. Enter the word "None" where it truly and completely states the fact.
Enter the month, day, and year only on page 1, blocks 11 and 15. The Form No. 552
VIII.
will auto-populate the dates in all other pages.
For any resubmissions, upload and complete a new fillable Form No. 552 and eFile it
IX.
with the Commission. Please explain the reason for the resubmission in the
description of your eFiling.
Do not make references to reports of previous periods/years or to other reports in
X.
lieu of required entries, except as specifically authorized.
Regarding reportable transactions that involve deliveries that occur or may occur
XI.
over multiple calendar years, only volumes for delivery that use, contribute to, or may
contribute to the formation of an index during the subject calendar year should be
reported. For a multi-year contract that relies on an index to establish a natural gas
price, volumes should be reported in the year in which the index is referenced.
Company Officer- any person who can legally bind the company regarding the
XII.
completeness and accuracy of the submission.
DEFINITIONS
Affiliate– An affiliate means a person who controls, is controlled by or is under common
I.
control with another person. For purposes of the completion of Form No. 552, a joint public
action agency may submit members’ collective information as if those members were
Affiliates.
Date of Report – The date the report is submitted to the Commission.
II.
Fixed Price – A “Physical Natural Gas Transaction” price determined by agreement
III.
between buyer and seller and not benchmarked to any other source of information.
Generally these transactions are not reportable except for Fixed Price Next-Day or Next
Month Delivery transactions. (See other definitions and lines 2 and 4 on page 4.)
Physical Natural Gas Transaction – For purposes of Form No. 552, physical natural gas
IV.
transactions are only those transactions that either use an index, or that contribute to, or
may contribute to the formation of a gas index during the calendar year. These transactions
are generally included in lines 2 through 7 of page 4 of the form and are referred to as
“reportable” transactions.
A physical natural gas transaction is an obligation to deliver natural gas at a specified
location and at a specified time, with the exception of physically-delivered futures contracts.
It is not necessary that natural gas actually be delivered under the transactions, only that
the delivery obligation existed in the agreement when executed. Certain Physical Natural
Gas Transactions may not remain in existence through the time of delivery because they
were traded away or “booked out.” For purposes of this form, these transactions should be
included whether they went to delivery or not. Order No. 704 and 704-A discuss a variety of
 
iv
particular instances. Order No. 704-C clarified transactions that use an index.
Reportable Physical Natural Gas Transactions are only those transactions that refer to
an index, or that contribute to, or could contribute to the formation of a gas index during the
calendar year. The following physical natural gas volumes should be included in
volumetric data submitted in Form No. 552:
Reportable physical natural gas transactions that use an Index are as follows:
a. Transactions that Use Daily Indices (line 3 of page 4)- delivery of natural gas pursuant to a
transaction that refers to a published daily index, which is used to price natural gas. The
index is usually a gas index, but other indices such as coal, petroleum, LNG, inflation, etc.
or a basket of indices may be used.
b. Transactions that Use Monthly Indices (line 5 of page 4)- delivery of natural gas pursuant
to a transaction that refers to a published monthly index, which is used to price natural
gas. The index is usually a gas index, but other indices such as coal, petroleum, LNG,
inflation, etc. or a basket of indices may be used.
Note: the referenced index need not be solely a gas index. Thus, a transaction that relies
on a basket of indices which includes a gas index and other daily or monthly indices such
as coal, petroleum, LNG, inflation, etc. would also be reportable on Lines 3 and 5. Please
identify indices used on page 4, lines 8 and 9.
Also transactions that refer to “weekly,” “yearly,” or other gas price indices may, in fact, be
based on daily gas price indices and are reportable on page 4, line 3 of Form No. 552.
For example, a transaction that references a “weekly” index that is formed by averaging
multiple daily indices is reportable as referencing a daily index. Similarly, a transaction
that refers to a yearly index that is formed by averaging twelve monthly indices would be
reported as referencing a monthly index.
Reportable transactions that can or may contribute to gas index formation are as follows:
a. Fixed Price Next-Day Delivery (line 2 of page 4)– delivery of natural gas pursuant to a
transaction executed prior to NAESB nomination deadline (1:00 pm Central Prevailing
Time) on one day for uniform physical delivery over the next pipeline day. Transactions
executed on Friday are usually for flow on Saturday, Sunday, and Monday inclusive.
Trading patterns may vary in the case of holidays or the end of a month that occurs on a
weekend.
b. Fixed Price Next-Month Delivery (line 4 of Page 4)- delivery of natural gas pursuant to a
transaction executed during the last five (5) business days of one month (bidweek) for
uniform physical delivery over the next month.
c. Trigger Agreements (line 6 of page 4)- a NYMEX trigger transaction that is contingent upon
a futures contract that trades on an exchange, resulting in an automatic physical trade at an
agreed upon price. If such a Fixed Price physical transaction was triggered or originated by
a NYMEX futures contract during bid week and can contribute to an index, it is reportable.
v
 
Page of 12