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EEI has been active in shaping the development of industry accounting rules and guiding companies on how to implement them. Recent areas of EEI leadership include:
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Quarterly Financial Reporting - On August 22, 2003, EEI filed comments  in FERC's June 26 Notice of Proposed Rulemaking on Quarterly Financial Reporting and Revisions to the Annual Reports. EEI suggested various improvements to the proposed rule and asked FERC to hold a technical conference.
- Accounting for Derivatives – Scope Exceptions: Interpretation of Clearly and Closely Related in Contracts that Qualify for the Normal Purchases and Normal Sales Exception (Statement 133 Implementation Issue No. C11)
In March 2003, EEI sent letters to FASB and the SEC to bring to their attention an issue with potentially serious consequences for electric companies:
Compliance with Issue No. C11, as clarified, would adversely affect electric companies because of the result it would have on accounting for Power Purchase Agreements (PPAs).
As a result of EEI’s communications, in April 2003, FASB issued revised tentative guidance as Issue No. C20.
On May 30, 2003, EEI provided comments on the revised guidance, asking for further revisions and clarifications.
- Uniform System of Accounts – EEI provided comments to FERC on its proposed rule on Accounting, Financial Reporting, and Rate Filing Requirements for Asset Retirement Obligations that resulted in changes to the proposed rule when finalized.
- Property, Plant, and Equipment - EEI provided extensive comments to the American Institute of CPAs’ (AICPA) Accounting Standards Executive Committee (AcSEC) on its proposed Statement of Position, “Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment.”
- Asset Retirement Obligations – In June 2001, FASB issued SFAS No. 143, which changes the way companies recognize and measure retirement obligations for tangible long-lived assets. EEI is helping member companies implement the new rule. As part of these efforts, EEI joined with AGA to develop a guide to Asset Retirement Obligations Implementation Issues (October 2002).
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