HomeRecently, FERC issued Order 898 which created new accounting and regulatory reporting standards. Accelerate your adoption with PowerPlan.
Effective January 1, 2025, FERC Order 898 creates new plant accounts to improve regulatory reporting transparency. Companies will need to analyze system needs, asset impacts and may need to reclassify dollars accordingly. Aligning processes across book accounting, tax and regulatory stakeholders is significant to successfully implementing the new standard. PowerPlan solutions and experts have what you need to ensure both Day 1 and ongoing compliance.
FERC Order 898 has cross-functional impacts.
Holistic Needs Assessment
Assess end-to-end impacts across accounting, tax, regulatory and all other stakeholders to successfully plan your implementation of FERC 898.
Fixed Asset Accounting
Extract, analyze and update your existing asset and depreciation records to align with FERC Order 898 and support regulatory requirements.
Property and Income Tax
Identify impacts to Ad Valorem and Income Taxes of fixed asset configuration updates and optimize your tax strategies.
Regulatory
Update data feeds and automated forms – including XBRL feeds – to support new reporting standards.
ERP and WMS Systems
Evaluate data and configuration needs – including master data, project initialization processes and integrations – across upstream systems to support accounting requirements.
Staffing Bandwidth
PowerPlan services can help ensure compliance with FERC 898 implementation without sacrificing your team’s day-to-day responsibilities.
Additional Resources
PowerPlan’s Social Power Customer Portal contains additional resources, including FAQs and PowerPlan’s FERC Order 898 webinar available for replay on-demand.
Watch the webinar Implementing FERC Order 898: How to Prepare and find more helpful FERC 898 resources  |
PowerPlan’s experts can partner with you navigate a smooth path to FERC Order 898 Compliance.
From facilitating data analysis by providing data extracts to reviewing your asset and project accounting records to accelerating system configuration needs, our team of experts is prepared to assist with your implementation of FERC Order 898.
