; and (2) after carrying out an environmental assessment under the National Environmental Policy Act of 1969 ( 42 U.S.C. 4321 et seq.) for the project, the Commission concludes that no environmental impact statement under the National Environmental Policy Act of 1969 ( 42 U.S.C. 4321 et seq.) is necessary for the project. 3006. Annual reports Part I of the Federal Power Act ( 16 U.S.C. 792 et seq.) (as amended by section 3001(c)) is amended by adding at the end the following: 37. Annual reports (a) Commission annual report (1) In general The Commission shall submit to the Committee on Energy and Natural Resources of the Senate and the Committee on Energy and Commerce of the House of Representatives an annual report that— (A) describes and quantifies, for each licensed, exempted, or proposed project under this part or section 405(d) of the Public Utility Regulatory Policies Act of 1978 ( 16 U.S.C. 2705(d) ) (referred to in this subsection as the covered project ), the quantity of energy and capacity authorized for new development and reauthorized for continued operation during the reporting year, including an assessment of the economic, climactic, air quality, and other environmental benefits achieved by the new and reauthorized energy and capacity; (B) describes and quantifies the loss of energy, capacity, or ancillary services as a result of any licensing action under this part or other requirement under Federal law during the reporting year; (C) identifies any application to license, relicense, or expand a covered project pending as of the date of the annual report, including a quantification of the new energy and capacity with the potential to be gained or lost by action relating to the covered project