On October 9, FERC issued an order stating its intent to revoke market based rate authority from 43 companies that have failed to file their Electronic Quarterly Reports (EQRs). Unless all outstanding EQRs are filed for each of these companies, FERC will, within 15 days of the order, “revoke that public utility’s market-based rate authorization and will terminate its electric market-based rate tariff.” The bottom line is that FERC is ramping up its enforcement efforts across the board, and the entities listed below have until October 24 to get their EQRs up to date and save themselves from FERC’s blacklist. All retail electric providers (“REP”) and electric generation suppliers must be aware of what EQRs are. Losing market based rate authority can put an electric company, whether a REP or a supplier, out of business.EQRs are summary reports of all wholesale sales of electricity made by market based rate entities and are required even if an entity has zero sales in any given quarter. The requirement to file EQRs begins with the quarter that a company receives market based rate authorization. For more detail on EQRs, see our previous blog posts here and here. Losing market based rate authority could threaten an entities ability to participate in RTO markets, and could trigger a breach of a bilateral supply agreement. Essentially, the 43 entities listed in FERC’s October 9 order are about to lose their ability to make wholesale sales of electricity.