Uniform System of Accounting for Georgian Gas Sector Companies

The system is designed to provide a sound basis for recording expenses and facilities of rate-regulated gas utilities, ensuring the coherence of data, avoiding double counting, and detecting anti-competitive effects. The USOA was developed with the support of the USAID Energy Program, which provided guidance to the Georgian National Energy and Water Supply Regulatory Commission (GNERC) in reforming the regulatory framework, including the development of the USOA for the electricity sector of Georgia. The USOA for the electricity sector was approved by GNERC in December 2016, and its mandatory application began in January 2019. The USOA for the gas sector was proposed in 2018, with the aim of providing a similar regulatory accounting system for rate-regulated gas utilities. The system includes a Regulatory Chart of Accounts (CoA), instructions to the CoA, general and special guidelines, reports, and instructions to reports, allowing for proper recording and tracing of financial information for sector regulation. The USOA has proven to be a good tool for financial management of utilities, enabling better cost control and insights on the efficiency of companies. The system has been successful in providing a win-win outcome for both consumers and investors, as it allows for regulatory oversight and improved financial management. The USOA reporting forms for Georgian gas sector companies are designed to monitor regulated companies and access their financial health and performance during the reporting period. The forms include: * Form 1: Statement of financial position for regulatory purposes * Form 2: Income statement for regulatory purposes * Form 3: Cash Flow Statement * Form 4: Trial Balance * Form 5: PPE & IA * Form 6: PPE Movement * Table 5: PPE breakdown by plant * Table 7: CAPEX Form * Table 8: Transmission system data applicable to transmission and distribution network companies * Table 9: Electricity production info applicable to electricity production power plants * Table 10: Organizational Chart * Table 11: Information on staff * Table 12: Vendor Reporting * Table 13: Affiliate transactions reporting The USOA reporting forms are designed to provide a comprehensive and transparent view of the financial health and performance of gas sector companies in Georgia, enabling regulatory oversight and improved financial management.