Accounting and Reporting Requirements for Nonoperating Public Utilities and Licensees, 922-926 [E6-22692]

Download as PDF 922 Federal Register / Vol. 72, No. 5 / Tuesday, January 9, 2007 / Proposed Rules rmajette on PROD1PC60 with PROPOSALS the U.S. Small Business Administration). As of 2004, domestic production was about 24 percent of the total U.S. market, with products from Israel, India, Belgium, China, Thailand, and Italy making up about threequarters of jewelry imports by value. Because children’s jewelry may include toy jewelry, staff considered data for toy, doll, and stuffed animal accessories that may include jewelry items. The value of shipments of these products is approximately $30 million annually, although this figure includes many products that would not be considered jewelry. Finally, staff considered manufacturing of craft kits and supplies, which would include jewelry-making kits. The value of shipments for this category is about $180 million annually. This figure also includes many products that would not be considered jewelry. While this information provides an overview of U.S. manufacturing of jewelry and related toy products, the data do not allow staff to analyze the specific impact of any potential regulation of lead in children’s jewelry. Further, while staff has information about the overall economic impact of excess lead exposure in children, there is no information available that addresses the effect of lead exposures specifically from children’s jewelry. While reducing lead in children’s jewelry could result in reduced lead exposure in children, the extent of the reduction and the resulting benefits may be difficult to quantify. Comments on these issues and on costs and benefits of a potential rule are specifically solicited. G. Solicitation of Information and Comments This ANPR is an initial step in a proceeding that could result in a mandatory rule banning children’s metal jewelry containing more than 0.06% lead by weight in metal components. All interested persons are invited to submit to the Commission their comments on any aspect of the alternatives discussed above. In particular, CPSC solicits the following additional information: 1. Information on any children believed to have been injured or killed as a result of ingesting metal jewelry containing lead, including the ages of such children, and their BLLs; 2. The circumstances under which these injuries and deaths occurred, including information on the suspected metal jewelry product; 3. The costs to manufacturers of redesigning children’s metal jewelry to remove the risk from lead or the cost of VerDate Aug<31>2005 17:34 Jan 08, 2007 Jkt 211001 removing children’s metal jewelry containing lead from the market; 4. A description of substitutes for children’s metal jewelry containing lead that could reduce the described risk of injury; 5. Comparisons of the costs and utility of using lead in children’s metal jewelry versus any available substitute products; 6. Other information on the potential costs and benefits of potential rules; 7. Steps that have been taken by industry or others to reduce the risk of injury to children due to lead from metal jewelry products; 8. The likelihood and nature of any significant economic impact of a rule on small entities; 9. Alternatives the Commission should consider, as well as the costs and benefits of those alternatives to minimize the burdens or costs to small entities; 10. The costs and benefits of mandating a testing requirement; 11. The costs and benefits of mandating a quality control/quality assurance program requirement and/or recordkeeping requirement; 12. The market share of children’s jewelry relative to all jewelry for both precious and costume (non-precious) jewelry; 13. The estimated average expected life of a piece of jewelry (precious and non-precious) and/or an estimated number of jewelry pieces in U.S. households; 14. The distribution of jewelry sales by manufacturing and/or retail price for both precious and costume (nonprecious) jewelry; and 15. Information on the lead content and accessibility of lead in non-metallic materials and components used in children’s jewelry containing lead including, but not limited to, plastics, rubber, crystals, glass and ceramics. Also, in accordance with section 3(f) of the FHSA, the Commission solicits: 1. Written comments with respect to the risk of injury identified by the Commission, the regulatory alternatives being considered, and other possible alternatives for addressing the risk. 2. Any existing standard or portion of a standard which could be issued as a proposed regulation. 3. A statement of intention to modify or develop a voluntary standard to address the risk of injury discussed in this notice, along with a description of a plan (including a schedule) to do so. Comments should be e-mailed to cpsc-os@cpsc.gov. Comments should be captioned ‘‘Children’s Jewelry Containing Lead ANPR.’’ Comments may also be mailed, preferably in five copies, to the Office of the Secretary, PO 00000 Frm 00009 Fmt 4702 Sfmt 4702 Consumer Product Safety Commission, Room 502, 4330 East West Highway, Bethesda, Maryland 20814, or delivered to the same address (telephone (301) 504–7923). Comments also may be filed by facsimile to (301) 504–0127. All comments and submissions should be received no later than March 12, 2007. H. FHSA Enforcement During the Pendency of the Rulemaking Manufacturers, importers and retailers of children’s jewelry are reminded that the Federal Hazardous Substances Act of its own force bans articles of children’s jewelry that meet the statutory definition of a ‘‘banned hazardous substance.’’ 15 U.S.C. 1261(q)(1). The CPSC Compliance staff therefore intends to continue enforcing the statute as appropriate during the pendency of this rulemaking. To avoid problems, manufacturers, importers and retailers are advised to follow the guidance provided in the Interim Enforcement Policy for Children’s Metal Jewelry Containing Lead (February 3, 2005) which is available on the CPSC Web site at https://www.cpsc.gov/ BUSINFO/pbjewelgd.pdf. Dated: January 4, 2007. Todd A. Stevenson, Secretary, Consumer Product Safety Commission. [FR Doc. E7–109 Filed 1–8–07; 8:45 am] BILLING CODE 6355–01–P DEPARTMENT OF ENERGY Federal Energy Regulatory Commission 18 CFR Parts 101, 125 and 141 [Docket No. RM07–2–000] Accounting and Reporting Requirements for Nonoperating Public Utilities and Licensees Issued December 21, 2006. Federal Energy Regulatory Commission, Energy. ACTION: Notice of proposed rulemaking. AGENCY: SUMMARY: The Federal Energy Regulatory Commission (Commission) is proposing to amend its accounting and reporting regulations, in Parts 101 and 141, to require public utilities and licensees to continue to follow the Commission’s Uniform System of Accounts (USofA) and to file annual and quarterly financial reports when they have ceased making jurisdictional sales of electric energy, or providing jurisdictional transmission service, but continue collecting amounts pursuant to E:\FR\FM\09JAP1.SGM 09JAP1 Federal Register / Vol. 72, No. 5 / Tuesday, January 9, 2007 / Proposed Rules a Commission-accepted tariff or rate schedule, or a Commission order. The proposed rulemaking is intended to close a gap in the Commission’s regulations which apply now only to operating public utilities and licensees. Under the existing regulations, the Commission cannot oversee, monitor, or audit costs that provide information necessary to the Commission’s oversight responsibilities and the protection of the public interest. The Commission also is seeking comments regarding the applicability of Part 125, Preservation of Records of Public Utilities and Licensees, to public utilities or licensees which have ceased operations, as described above, but continue to collect amounts pursuant to a Commission-approved tariff or rate schedule, or a Commission order. This notice of proposed rulemaking reasonably interprets the current language of Part 125 to require the continued application of Part 125 to nonoperating public utilities and licensees, but seeks comments as to whether revisions to Part 125 may be necessary. DATES: Comments are due February 8, 2007. You may submit comments identified by Docket No. RM07–2–000 by one of the following methods: • Agency Web Site: https:// www.ferc.gov. Follow the instructions found in the Comment Procedures Section of the preamble for submitting comments via the eFiling link. • Mail: Commenters unable to file comments electronically must mail or hand deliver an original and 14 copies of their comments to the Federal Energy Regulatory Commission, Secretary of the Commission, 888 First Street, NE., Washington, DC 20426. Please refer to the Comment Procedures Section of the preamble for additional information on how to file paper comments. FOR FURTHER INFORMATION CONTACT: Jane Stelck, Office of Enforcement, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502– 6648, jane.stelck@ferc.gov. Thomas Russo (Technical), Office of Enforcement, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502–8792, thomas.russo@ferc.gov. Michael Krauthamer, Office of the General Counsel, Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426, (202) 502–6159, michael.krauthamer@ferc.gov. rmajette on PROD1PC60 with PROPOSALS ADDRESSES: VerDate Aug<31>2005 17:34 Jan 08, 2007 Jkt 211001 SUPPLEMENTARY INFORMATION: I. Introduction 1. The Federal Energy Regulatory Commission (Commission) is proposing to amend the accounting and reporting requirements in Parts 101 and 141 of its regulations to require public utilities and licensees to continue to follow the Commission’s Uniform System of Accounts (USofA) 1 and to file quarterly and annual financial reports 2 when they have ceased to make jurisdictional sales of electric energy or to provide jurisdictional transmission service but continue to collect amounts pursuant to a Commission-accepted tariff or rate schedule, or a Commission order. These proposed regulations are intended to close a gap in current accounting and reporting requirements that no longer apply when the operations of a public utility or licensee are discontinued. The resulting gap leaves unreported information and data which are important to the Commission’s administration of its jurisdictional responsibilities under the Federal Power Act (FPA).3 Specifically, these changes are intended to address a situation, for example, in which a nuclear generating plant may shut down its operations but continue to collect decommissioning and other administrative costs pursuant to a Commission order. For this purpose, the Commission proposes additions and revisions to Parts 101 and 141 of the Commission’s regulations, as follows: (1) Add a new category, designated ‘‘nonoperating’’ to the classification of utilities subject to compliance with the USofA in the General Instructions of Part 101; and (2) revise §§ 141.1, 141.2 and 141.400 of Part 141 to require nonoperating public utilities and licensees whose operations have ceased but who continue to collect amounts pursuant to a Commission tariff or rate schedule, or a Commission order, to continue to comply with the Commission’s reporting requirements. 2. The Commission is also seeking comments on the applicability of Part 125, which sets forth record retention requirements for public utilities and licensees. This notice of proposed rulemaking reasonably interprets the current language of Part 125 to provide that the requirements of Part 125 continue to apply to nonoperating entities who continue to collect amounts pursuant to a Commissionapproved tariff or rate schedule, or a Commission order. The Commission seeks comments, however, as to whether 1 18 CFR Part 101. CFR Part 141. 3 16 U.S.C. 824 et seq. 2 18 PO 00000 Frm 00010 Fmt 4702 Sfmt 4702 923 Part 125 may require particular revisions. II. Background 3. The Commission’s regulations in Parts 101 and 141 require public utilities and licensees whose sales or transmission service exceed certain prescribed levels to follow the USofA and to file annual and quarterly financial reports, Forms No. 1, 1–F, and 3–Q, respectively. This information is necessary to enable the Commission to fulfill its statutory responsibilities under the FPA and is essential to the Commission’s decisionmaking process. The information, which is publicly available, also allows customers, state commissions, and others to evaluate the rates charged for sales of electric energy and transmission of electric energy. 4. Under the Commission’s existing regulations, public utilities and licensees are relieved of these accounting and reporting requirements when they cease making sales or providing transmission. This is true even when these nonoperating public utilities and licensees continue to collect amounts pursuant to a Commission-approved tariff or rate schedule, or a Commission order. III. Discussion 5. In recent years, this accounting and reporting gap has been highlighted when, for example, nuclear generating plants shut down but continue to collect decommissioning and other administrative costs under a Commission-accepted tariff or rate schedule, or a Commission order.4 The amounts collected by these companies are material and may span a decade or longer.5 The occurrence of these and the potential occurrence of similar circumstances impede the Commission’s ability to collect information, monitor, or audit the underlying costs when accounting and reporting requirements no longer apply. The Commission has a continuing need to have access to books and records and to receive periodic financial reports for any jurisdictional entity, even when that entity has ceased operations but continues to collect amounts pursuant to a Commission-accepted tariff or rate schedule, or a Commission order. Without Commission oversight, customers and ratepayers cannot be 4 See, e.g., Connecticut Yankee Atomic Power Company, 92 FERC ¶ 61,005 (2000) (approving decommissioning cost collections.) 5 For example, Connecticut Yankee collected $16.7 million per year in decommissioning funds from 2000 to 2004 and $93 million in 2005 and 2006. Id. E:\FR\FM\09JAP1.SGM 09JAP1 924 Federal Register / Vol. 72, No. 5 / Tuesday, January 9, 2007 / Proposed Rules rmajette on PROD1PC60 with PROPOSALS assured that these billings are just and reasonable. 6. To remedy this gap in the regulations and to ensure that the Commission has all necessary information to perform its oversight duties, this rulemaking proposes to add a new classification in Part 101, General Instructions, Classification of utilities, which will apply the USofA to nonoperating Major and Nonmajor public utilities and licensees. Additionally, the Commission proposes revisions to the reporting requirements contained in Part 141 of its regulations to require that nonoperating public utilities and licensees that have ceased operation, but continue to collect amounts pursuant to a Commissionaccepted tariff or rate schedule, or a Commission order, continue to file annual and quarterly reports pursuant to these regulations. 7. At this time, the Commission is not proposing any additions or revisions to Part 125, which requires public utilities and licensees to retain records for designated periods of time. This proposed rulemaking is based on a reasonable reading of the current language in Part 125, that the requirements of Part 125 continue to apply to nonoperating public utilities and licensees even when their respective operations cease but they continue to collect amounts under a Commission-accepted tariff or rate schedule or a Commission order. We seek comments, however, as to whether revisions to Part 125 may be necessary. 8. At this time, it is anticipated that the proposed regulations will affect only a few entities, and that reporting and compliance requirements will not be burdensome. 9. Finally, the Commission proposes that these accounting and reporting requirements become effective 30 days after publication of the Final Rule in the Federal Register. IV. Information Collection Statement The following collections of information contained in this proposed rule are being submitted to the Office of Management and Budget (OMB) for review under section 3507(d) of the Paperwork Reduction Act of 1995.6 OMB’s regulations require OMB to approve certain information collection requirements imposed by agency rule.7 Comments are solicited on the need for this information, whether the information will have practical utility, the accuracy of the provided burden estimated, ways to enhance the quality, 6 44 U.S.C. 3507(d). 5 CFR 1320.11. 7 See VerDate Aug<31>2005 17:34 Jan 08, 2007 Jkt 211001 utility, clarity of the information to be collected, and any suggested methods for minimizing respondents’ burden, including the use of automated information techniques. The Commission expects that only a very small number of public utilities and licensees would be affected by the proposed rule. The Commission also anticipates there will be a minimal impact, if any, on these entities. Information Collection Costs: The Commission seeks comments on the costs to comply with these requirements. The Commission anticipates that there will be minimal impact relative to the costs of compliance. Title: FERC Form No. 1, ‘‘Annual report of Major electric utilities, licensees, and others’’; FERC Form No. 1–F; ‘‘Annual report for Nonmajor public utilities and licensees’’; FERC Form No. 3–Q, ‘‘Quarterly financial report of electric utilities, licensees, and natural gas companies’’; and FERC–555. Action: Proposed information collections. OMB Control Nos.: 1902–0021; 1902– 0029; 1902–0205, and 1902–0098. Respondents: Businesses or other for profit. Frequency of responses: Annually and quarterly. Necessity of the Information: The information maintained and collected under the requirements of Parts 101 and 141 is essential to the Commission’s oversight duties. Under the existing regulations, nonoperating public utilities and licensees are not required to follow the USofA, or submit financial reports when sales of electric energy or transmission of electric energy cease, even when they continue to bill amounts pursuant to a Commissionaccepted tariff or rate schedule, or a Commission order. Without access to accounting books and records and periodic financial reports, the Commission cannot conduct rate reviews, audits and other oversight activities with respect to these public utilities and licensees. Internal Review: The Commission has reviewed the requirements pertaining to the USofA and to its financial reports and has determined that the proposed changes are necessary. These requirements conform to the Commission’s plan for efficient information collection, communication, and management within the public industry. The Commission has assured itself, by means of internal review, that there is specific, objective support associated with the information requirements. PO 00000 Frm 00011 Fmt 4702 Sfmt 4702 10. Interested persons may obtain information on the reporting requirements by contacting: Federal Energy Regulatory Commission, 888 First Street, NE., Washington, DC 20426 [Attention: Michael Miller, Office of the Chief Information Officer, phone (202) 502–8415, fax: (202) 273–0873, e-mail: michael.miller@ferc.gov]. 11. To submit comments concerning the collection of information and the associated burden estimates, please send your comments to the contact listed above and to the Office of Management and Budget, Office of Information and Regulatory Affairs, Washington, DC 20503, [Attention: Desk Officer for the Federal Energy Regulatory Commission] Phone: (202) 395–4650, fax: (202) 395–7285. V. Environmental Statement 12. The Commission is required to prepare an Environmental Assessment or an Environmental Impact Statement for any action that may have a significant adverse effect on the human environment.8 The Commission has categorically excluded certain actions from this requirement as not having a significant effect on the human environment. Included in the exclusion are actions that involve accounting and financial reporting.9 The rules proposed here address the need for nonoperating utilities and licensees to continue compliance with the USofA and to meet the reporting requirements of part 141 for so long as they continue to collect amounts pursuant to a Commissionapproved tariff or rate schedule, or a Commission order. Therefore, this notice of proposed rulemaking falls within the categorical exemptions provided in the Commission’s regulations, and, as a result neither an environmental impact statement nor an environmental assessment is required. VI. Regulatory Flexibility Act Certification 13. The Regulatory Flexibility Act of 1980 10 generally requires a description and analysis of final rules that will have significant economic impact on a substantial number of small entities. The Commission is not required to make such analyses if a rule would not have such an effect. Because most public utilities and licensees do not fall within the definition of ‘‘small entity,’’ 11 the 8 Regulations Implementing the National Environmental Policy Act, Order No. 486, 52 FR 47897 (Dec. 17, 1987), FERC Stats. & Regs. ¶ 30,783 (1987). 9 18 CFR 380.4(a)(5), (16); see also 18 CFR 380.4(a)(3). 10 5 U.S.C. 601–12. 11 See 5 U.S.C. 601(3). E:\FR\FM\09JAP1.SGM 09JAP1 Federal Register / Vol. 72, No. 5 / Tuesday, January 9, 2007 / Proposed Rules Commission certifies that this notice of proposed rulemaking will not have a significant economic impact on a substantial number of small entities. VII. Comment Procedures 19. User assistance is available for eLibrary and the Commission’s Web site during normal business hours from our Help Line at (202) 502–8222 or the Public Reference Room at (202) 502– 8371 Press 0, TTY (202) 502–8659. EMail the Public Reference Room at public.referenceroom@ferc.gov. 2. Amend Part 101, General Instructions, 1. Classification of utilities, to add a new paragraph A.(3) and to revise the first sentence in paragraph B to read as follows: VIII. Document Availability rmajette on PROD1PC60 with PROPOSALS 14. The Commission invites comments on the matters and proposals in this notice, including any related matters or alternative proposals that commenters may wish to discuss. Comments are due February 8, 2007. Reply comments will be due 30 days thereafter. Comments must refer to Docket No. RM07–2–000, and must include the commenter’s name, the organization they represent, if applicable, and their address in their comments. Comments may be filed either in electronic or paper format. 15. Comments may be filed electronically via the eFiling link on the Commission’s Web site at https:// www.ferc.gov. The Commission accepts most standard word processing formats and commenters may attach additional files with supporting information in certain other file formats. Commenters filing electronically do not need to make a paper filing. Commenters that are not able to file comments electronically must send an original and 14 copies of their comments to: Federal Energy Regulatory Commission, Secretary of the Commission, 888 First Street, NE., Washington, DC 20426. 16. All comments will be placed in the Commission’s public files and may be viewed, printed, or downloaded remotely as described in the Document Availability section below. Commenters on this proposal are not required to serve copies of their comments on other commenters. General Instructions 17. In addition to publishing the full text of this document in the Federal Register, the Commission provides all interested persons an opportunity to view and/or print the contents of this document via the Internet through the Commission’s Home Page (https:// www.ferc.gov) and in the Commission’s Public Reference Room during normal business hours (8:30 a.m. to 5 p.m. Eastern time) at 888 First Street, NE., Room 2A, Washington DC 20426. 18. From the Commission’s Home Page on the Internet, this information is available on eLibrary. The full text of this document is available on eLibrary in PDF and Microsoft Word format for viewing, printing, and/or downloading. To access this document in eLibrary, type the docket number excluding the last three digits of this document in the docket number field. 1. Classification of Utilities. A. * * * (3) Nonoperating. Utilities and licensees formerly designated as Major or Nonmajor that have ceased operation but continue to collect amounts pursuant to a Commission-accepted tariff or rate schedule, or a Commission order. B. This system applies to Major, Nonmajor, and Nonoperating utilities and licensees. * * * * * * * * VerDate Aug<31>2005 17:34 Jan 08, 2007 Jkt 211001 List of Subjects 18 CFR Part 101 Electric power, Electric utilities, Reporting and recordkeeping requirements, Uniform System of Accounts. 18 CFR Part 141 Electric power, Reporting and recordkeeping requirements. By direction of the Commission. Magalie R. Salas, Secretary. In consideration of the foregoing, the Commission proposes to amend parts 101 and 141, Chapter I, Title 18, Code of Federal Regulations, as follows: PART 101—UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED FOR PUBLIC UTILITIES AND LICENSEES SUBJECT TO THE PROVISIONS OF THE FEDERAL POWER ACT 1. The authority citation for part 101 continues to read as follows: Authority: 16 U.S.C. 791a–825r, 2601– 2645; 31 U.S.C. 9701; 42 U.S.C. 7101–7352, 7651–7615o. PART 141—STATEMENTS AND REPORTS (SCHEDULES) 3. The authority citation for part 141 continues to read as follows: Authority: 15 U.S.C. 79; 16 U.S.C. 791a– 828c, 2601–2645; 31 U.S.C. 9701; 42 U.S.C. 7101–7352. PO 00000 Frm 00012 Fmt 4702 Sfmt 4702 925 4. Revise § 141.1(b)(1)(i) to read as follows: § 141.1 FERC Form No. 1, Annual report of Major electric utilities, licensees and others. * * * * * (b) Filing requirements—(1) Who must file—(i) Generally. Each Major and each Nonoperating (formerly designated as Major) electric utility (as defined in part 101 of Subchapter C of this chapter) and other entity, i.e., each corporation, person or licensee as defined in section 3 of the Federal Power Act (16 U.S.C. 792 et seq.), including any agency, authority, or other legal entity or instrumentality engaged in generation, transmission, distribution, or sale of electric energy, however produced, throughout the United States and its possessions, having sales or transmission service equal to Major or Nonoperating (formerly designated as Major) as defined above, whether or not the jurisdiction of the Commission is otherwise involved, shall prepare and file electronically with the Commission the FERC Form No. 1 pursuant to the General Instructions set out in that form. * * * * * 5. Revise § 141.2(b)(1)(i) to read as follows: § 141.2 FERC Form No. 1–F, Annual report for Nonmajor public utilities and licensees. * * * * * (b) Filing requirements—(1) Who must file—(i) Generally. Each Nonmajor and each Nonoperating (formerly designated as Nonmajor) public utility and licensee as defined by the Federal Power Act, which is considered Nonmajor as defined in Part 101 of this chapter, shall prepare and file with the Commission an original and conformed copies of FERC Form No. 1–F pursuant to the General Instructions set out in that form. * * * * * 6. In § 141.400, revise paragraphs (b)(1)(i), (b)(2) introductory text, and (b)(3) introductory text, to read as follows: * * * * * § 141.400 FERC Form No. 3–Q, Quarterly financial report of electric utilities, licensees, and natural gas companies. * * * * * (b) Filing Requirements—(1) Who must file—(i) Generally. Each electric utility and each Nonoperating (formerly designated as Major or Nonmajor) electric utility (as defined in part 101 of subchapter C of this chapter) and other entity, i.e., each corporation, person, or licensee as defined in section 3 of the Federal Power Act (16 U.S.C. 792 et seq.), including any agency or instrumentality engaged in generation, E:\FR\FM\09JAP1.SGM 09JAP1 926 Federal Register / Vol. 72, No. 5 / Tuesday, January 9, 2007 / Proposed Rules transmission, distribution, or sale of electric energy, however produced, throughout the United States and its possessions, having sales or transmission service, whether or not the jurisdiction of the Commission is otherwise involved, must prepare and file with the Commission FERC Form No. 3–Q pursuant to the General Instructions set out in that form. * * * * * (2) Each Major and Nonoperating (formerly designated as Major) (as defined in Part 101 of subchapter C of this chapter) public utility and licensee must file the quarterly financial report form as follows: * * * * * (3) Nonmajor and Nonoperating (formerly designated as Nonmajor) public utilities and licensees must file the quarterly financial report form as follows: * * * * * [FR Doc. E6–22692 Filed 1–8–07; 8:45 am] BILLING CODE 6717–01–P DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency 44 CFR Part 67 [Docket No. FEMA–B–7702] Proposed Flood Elevation Determinations Federal Emergency Management Agency, DHS. ACTION: Proposed rule. AGENCY: SUMMARY: Technical information or comments are requested on the proposed Base (1% annual chance) Flood Elevations (BFEs) and proposed BFEs modifications for the communities listed below. The BFEs are the basis for the floodplain management measures that the community is required either to adopt or to show evidence of being Flooding source(s) National Environmental Policy Act already in effect in order to qualify or remain qualified for participation in the National Flood Insurance Program (NFIP). This proposed rule is categorically excluded from the requirements of 44 CFR part 10, Environmental Consideration. An environmental impact assessment has not been prepared. The comment period is ninety (90) days following the second publication of this proposed rule in a newspaper of local circulation in each community. DATES: Regulatory Flexibility Act As flood elevation determinations are not within the scope of the Regulatory Flexibility Act, 5 U.S.C. 601–612, a regulatory flexibility analysis is not required. The proposed BFEs for each community are available for inspection at the office of the Chief Executive Officer of each community. The respective addresses are listed in the table below. ADDRESSES: Regulatory Classification This proposed rule is not a significant regulatory action under the criteria of section 3(f) of Executive Order 12866 of September 30, 1993, Regulatory Planning and Review, 58 FR 51735. FOR FURTHER INFORMATION CONTACT: William R. Blanton, Jr., Engineering Management Section, Mitigation Division, Federal Emergency Management Agency, 500 C Street, SW., Washington, DC 20472, (202) 646–3151. Executive Order 13132, Federalism The Federal Emergency Management Agency (FEMA) proposes to make determinations of BFEs and modified BFEs for each community listed below, in accordance with section 110 of the Flood Disaster Protection Act of 1973, 42 U.S.C. 4104, and 44 CFR 67.4(a). These proposed BFEs and modified BFEs, together with the floodplain management criteria required by 44 CFR 60.3, are the minimum that are required. They should not be construed to mean that the community must change any existing ordinances that are more stringent in their floodplain management requirements. The community may at any time enact stricter requirements of its own, or pursuant to policies established by other Federal, State or regional entities. These proposed elevations are used to meet the floodplain management requirements of the NFIP and are also used to calculate the appropriate flood insurance premium rates for new buildings built after these elevations are made final, and for the contents in these buildings. SUPPLEMENTARY INFORMATION: This proposed rule involves no policies that have federalism implications under Executive Order 13132. Executive Order 12988, Civil Justice Reform This proposed rule meets the applicable standards of Executive Order 12988. List of Subjects in 44 CFR Part 67 Administrative practice and procedure, Flood insurance, Reporting and recordkeeping requirements. Accordingly, 44 CFR part 67 is proposed to be amended as follows: PART 67—[AMENDED] 1. The authority citation for part 67 continues to read as follows: Authority: 42 U.S.C. 4001 et seq.; Reorganization Plan No. 3 of 1978, 3 CFR, 1978 Comp., p. 329; E.O. 12127, 44 FR 19367, 3 CFR, 1979 Comp., p. 376. § 67.4 [Amended] 2. The tables published under the authority of § 67.4 are proposed to be amended as follows: * Elevation in feet (NGVD) + Elevation in feet (NAVD) # Depth in feet above ground Location of referenced elevation Effective Communities affected Modified rmajette on PROD1PC60 with PROPOSALS Calhoun County, Alabama and Incorporated Areas Coosa River .......................... Talladega County Line ................................................. None +479 Etowah County Line ..................................................... None +510 * National Geodetic Vertical Datum. # Depth in feet above ground. + North American Vertical Datum. VerDate Aug<31>2005 17:34 Jan 08, 2007 Jkt 211001 PO 00000 Frm 00013 Fmt 4702 Sfmt 4702 E:\FR\FM\09JAP1.SGM 09JAP1 Calhoun County (Unincorporated Areas).

Agencies

[Federal Register Volume 72, Number 5 (Tuesday, January 9, 2007)]
[Proposed Rules]
[Pages 922-926]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-22692]


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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Parts 101, 125 and 141

[Docket No. RM07-2-000]


Accounting and Reporting Requirements for Nonoperating Public 
Utilities and Licensees

Issued December 21, 2006.
AGENCY: Federal Energy Regulatory Commission, Energy.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Federal Energy Regulatory Commission (Commission) is 
proposing to amend its accounting and reporting regulations, in Parts 
101 and 141, to require public utilities and licensees to continue to 
follow the Commission's Uniform System of Accounts (USofA) and to file 
annual and quarterly financial reports when they have ceased making 
jurisdictional sales of electric energy, or providing jurisdictional 
transmission service, but continue collecting amounts pursuant to

[[Page 923]]

a Commission-accepted tariff or rate schedule, or a Commission order. 
The proposed rulemaking is intended to close a gap in the Commission's 
regulations which apply now only to operating public utilities and 
licensees. Under the existing regulations, the Commission cannot 
oversee, monitor, or audit costs that provide information necessary to 
the Commission's oversight responsibilities and the protection of the 
public interest.
    The Commission also is seeking comments regarding the applicability 
of Part 125, Preservation of Records of Public Utilities and Licensees, 
to public utilities or licensees which have ceased operations, as 
described above, but continue to collect amounts pursuant to a 
Commission-approved tariff or rate schedule, or a Commission order. 
This notice of proposed rulemaking reasonably interprets the current 
language of Part 125 to require the continued application of Part 125 
to nonoperating public utilities and licensees, but seeks comments as 
to whether revisions to Part 125 may be necessary.

DATES: Comments are due February 8, 2007.

ADDRESSES: You may submit comments identified by Docket No. RM07-2-000 
by one of the following methods:
     Agency Web Site: https://www.ferc.gov. Follow the 
instructions found in the Comment Procedures Section of the preamble 
for submitting comments via the eFiling link.
     Mail: Commenters unable to file comments electronically 
must mail or hand deliver an original and 14 copies of their comments 
to the Federal Energy Regulatory Commission, Secretary of the 
Commission, 888 First Street, NE., Washington, DC 20426. Please refer 
to the Comment Procedures Section of the preamble for additional 
information on how to file paper comments.

FOR FURTHER INFORMATION CONTACT:

Jane Stelck, Office of Enforcement, Federal Energy Regulatory 
Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-
6648, jane.stelck@ferc.gov.
Thomas Russo (Technical), Office of Enforcement, Federal Energy 
Regulatory Commission, 888 First Street, NE., Washington, DC 20426, 
(202) 502-8792, thomas.russo@ferc.gov.
Michael Krauthamer, Office of the General Counsel, Federal Energy 
Regulatory Commission, 888 First Street, NE., Washington, DC 20426, 
(202) 502-6159, michael.krauthamer@ferc.gov.

SUPPLEMENTARY INFORMATION:

I. Introduction

    1. The Federal Energy Regulatory Commission (Commission) is 
proposing to amend the accounting and reporting requirements in Parts 
101 and 141 of its regulations to require public utilities and 
licensees to continue to follow the Commission's Uniform System of 
Accounts (USofA) \1\ and to file quarterly and annual financial reports 
\2\ when they have ceased to make jurisdictional sales of electric 
energy or to provide jurisdictional transmission service but continue 
to collect amounts pursuant to a Commission-accepted tariff or rate 
schedule, or a Commission order. These proposed regulations are 
intended to close a gap in current accounting and reporting 
requirements that no longer apply when the operations of a public 
utility or licensee are discontinued. The resulting gap leaves 
unreported information and data which are important to the Commission's 
administration of its jurisdictional responsibilities under the Federal 
Power Act (FPA).\3\ Specifically, these changes are intended to address 
a situation, for example, in which a nuclear generating plant may shut 
down its operations but continue to collect decommissioning and other 
administrative costs pursuant to a Commission order. For this purpose, 
the Commission proposes additions and revisions to Parts 101 and 141 of 
the Commission's regulations, as follows: (1) Add a new category, 
designated ``nonoperating'' to the classification of utilities subject 
to compliance with the USofA in the General Instructions of Part 101; 
and (2) revise Sec. Sec.  141.1, 141.2 and 141.400 of Part 141 to 
require nonoperating public utilities and licensees whose operations 
have ceased but who continue to collect amounts pursuant to a 
Commission tariff or rate schedule, or a Commission order, to continue 
to comply with the Commission's reporting requirements.
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    \1\ 18 CFR Part 101.
    \2\ 18 CFR Part 141.
    \3\ 16 U.S.C. 824 et seq.
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    2. The Commission is also seeking comments on the applicability of 
Part 125, which sets forth record retention requirements for public 
utilities and licensees. This notice of proposed rulemaking reasonably 
interprets the current language of Part 125 to provide that the 
requirements of Part 125 continue to apply to nonoperating entities who 
continue to collect amounts pursuant to a Commission-approved tariff or 
rate schedule, or a Commission order. The Commission seeks comments, 
however, as to whether Part 125 may require particular revisions.

II. Background

    3. The Commission's regulations in Parts 101 and 141 require public 
utilities and licensees whose sales or transmission service exceed 
certain prescribed levels to follow the USofA and to file annual and 
quarterly financial reports, Forms No. 1, 1-F, and 3-Q, respectively. 
This information is necessary to enable the Commission to fulfill its 
statutory responsibilities under the FPA and is essential to the 
Commission's decisionmaking process. The information, which is publicly 
available, also allows customers, state commissions, and others to 
evaluate the rates charged for sales of electric energy and 
transmission of electric energy.
    4. Under the Commission's existing regulations, public utilities 
and licensees are relieved of these accounting and reporting 
requirements when they cease making sales or providing transmission. 
This is true even when these nonoperating public utilities and 
licensees continue to collect amounts pursuant to a Commission-approved 
tariff or rate schedule, or a Commission order.

III. Discussion

    5. In recent years, this accounting and reporting gap has been 
highlighted when, for example, nuclear generating plants shut down but 
continue to collect decommissioning and other administrative costs 
under a Commission-accepted tariff or rate schedule, or a Commission 
order.\4\ The amounts collected by these companies are material and may 
span a decade or longer.\5\ The occurrence of these and the potential 
occurrence of similar circumstances impede the Commission's ability to 
collect information, monitor, or audit the underlying costs when 
accounting and reporting requirements no longer apply. The Commission 
has a continuing need to have access to books and records and to 
receive periodic financial reports for any jurisdictional entity, even 
when that entity has ceased operations but continues to collect amounts 
pursuant to a Commission-accepted tariff or rate schedule, or a 
Commission order. Without Commission oversight, customers and 
ratepayers cannot be

[[Page 924]]

assured that these billings are just and reasonable.
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    \4\ See, e.g., Connecticut Yankee Atomic Power Company, 92 FERC 
] 61,005 (2000) (approving decommissioning cost collections.)
    \5\ For example, Connecticut Yankee collected $16.7 million per 
year in decommissioning funds from 2000 to 2004 and $93 million in 
2005 and 2006. Id.
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    6. To remedy this gap in the regulations and to ensure that the 
Commission has all necessary information to perform its oversight 
duties, this rulemaking proposes to add a new classification in Part 
101, General Instructions, Classification of utilities, which will 
apply the USofA to nonoperating Major and Nonmajor public utilities and 
licensees. Additionally, the Commission proposes revisions to the 
reporting requirements contained in Part 141 of its regulations to 
require that nonoperating public utilities and licensees that have 
ceased operation, but continue to collect amounts pursuant to a 
Commission-accepted tariff or rate schedule, or a Commission order, 
continue to file annual and quarterly reports pursuant to these 
regulations.
    7. At this time, the Commission is not proposing any additions or 
revisions to Part 125, which requires public utilities and licensees to 
retain records for designated periods of time. This proposed rulemaking 
is based on a reasonable reading of the current language in Part 125, 
that the requirements of Part 125 continue to apply to nonoperating 
public utilities and licensees even when their respective operations 
cease but they continue to collect amounts under a Commission-accepted 
tariff or rate schedule or a Commission order. We seek comments, 
however, as to whether revisions to Part 125 may be necessary.
    8. At this time, it is anticipated that the proposed regulations 
will affect only a few entities, and that reporting and compliance 
requirements will not be burdensome.
    9. Finally, the Commission proposes that these accounting and 
reporting requirements become effective 30 days after publication of 
the Final Rule in the Federal Register.

IV. Information Collection Statement

    The following collections of information contained in this proposed 
rule are being submitted to the Office of Management and Budget (OMB) 
for review under section 3507(d) of the Paperwork Reduction Act of 
1995.\6\ OMB's regulations require OMB to approve certain information 
collection requirements imposed by agency rule.\7\
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    \6\ 44 U.S.C. 3507(d).
    \7\ See 5 CFR 1320.11.
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    Comments are solicited on the need for this information, whether 
the information will have practical utility, the accuracy of the 
provided burden estimated, ways to enhance the quality, utility, 
clarity of the information to be collected, and any suggested methods 
for minimizing respondents' burden, including the use of automated 
information techniques. The Commission expects that only a very small 
number of public utilities and licensees would be affected by the 
proposed rule. The Commission also anticipates there will be a minimal 
impact, if any, on these entities.
    Information Collection Costs: The Commission seeks comments on the 
costs to comply with these requirements. The Commission anticipates 
that there will be minimal impact relative to the costs of compliance.
    Title: FERC Form No. 1, ``Annual report of Major electric 
utilities, licensees, and others''; FERC Form No. 1-F; ``Annual report 
for Nonmajor public utilities and licensees''; FERC Form No. 3-Q, 
``Quarterly financial report of electric utilities, licensees, and 
natural gas companies''; and FERC-555.
    Action: Proposed information collections.
    OMB Control Nos.: 1902-0021; 1902-0029; 1902-0205, and 1902-0098.
    Respondents: Businesses or other for profit.
    Frequency of responses: Annually and quarterly.
    Necessity of the Information: The information maintained and 
collected under the requirements of Parts 101 and 141 is essential to 
the Commission's oversight duties. Under the existing regulations, 
nonoperating public utilities and licensees are not required to follow 
the USofA, or submit financial reports when sales of electric energy or 
transmission of electric energy cease, even when they continue to bill 
amounts pursuant to a Commission-accepted tariff or rate schedule, or a 
Commission order. Without access to accounting books and records and 
periodic financial reports, the Commission cannot conduct rate reviews, 
audits and other oversight activities with respect to these public 
utilities and licensees.
    Internal Review: The Commission has reviewed the requirements 
pertaining to the USofA and to its financial reports and has determined 
that the proposed changes are necessary. These requirements conform to 
the Commission's plan for efficient information collection, 
communication, and management within the public industry. The 
Commission has assured itself, by means of internal review, that there 
is specific, objective support associated with the information 
requirements.
    10. Interested persons may obtain information on the reporting 
requirements by contacting: Federal Energy Regulatory Commission, 888 
First Street, NE., Washington, DC 20426 [Attention: Michael Miller, 
Office of the Chief Information Officer, phone (202) 502-8415, fax: 
(202) 273-0873, e-mail: michael.miller@ferc.gov].
    11. To submit comments concerning the collection of information and 
the associated burden estimates, please send your comments to the 
contact listed above and to the Office of Management and Budget, Office 
of Information and Regulatory Affairs, Washington, DC 20503, 
[Attention: Desk Officer for the Federal Energy Regulatory Commission] 
Phone: (202) 395-4650, fax: (202) 395-7285.

V. Environmental Statement

    12. The Commission is required to prepare an Environmental 
Assessment or an Environmental Impact Statement for any action that may 
have a significant adverse effect on the human environment.\8\ The 
Commission has categorically excluded certain actions from this 
requirement as not having a significant effect on the human 
environment. Included in the exclusion are actions that involve 
accounting and financial reporting.\9\ The rules proposed here address 
the need for nonoperating utilities and licensees to continue 
compliance with the USofA and to meet the reporting requirements of 
part 141 for so long as they continue to collect amounts pursuant to a 
Commission-approved tariff or rate schedule, or a Commission order. 
Therefore, this notice of proposed rulemaking falls within the 
categorical exemptions provided in the Commission's regulations, and, 
as a result neither an environmental impact statement nor an 
environmental assessment is required.
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    \8\ Regulations Implementing the National Environmental Policy 
Act, Order No. 486, 52 FR 47897 (Dec. 17, 1987), FERC Stats. & Regs. 
] 30,783 (1987).
    \9\ 18 CFR 380.4(a)(5), (16); see also 18 CFR 380.4(a)(3).
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VI. Regulatory Flexibility Act Certification

    13. The Regulatory Flexibility Act of 1980 \10\ generally requires 
a description and analysis of final rules that will have significant 
economic impact on a substantial number of small entities. The 
Commission is not required to make such analyses if a rule would not 
have such an effect. Because most public utilities and licensees do not 
fall within the definition of ``small entity,'' \11\ the

[[Page 925]]

Commission certifies that this notice of proposed rulemaking will not 
have a significant economic impact on a substantial number of small 
entities.
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    \10\ 5 U.S.C. 601-12.
    \11\ See 5 U.S.C. 601(3).
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VII. Comment Procedures

    14. The Commission invites comments on the matters and proposals in 
this notice, including any related matters or alternative proposals 
that commenters may wish to discuss. Comments are due February 8, 2007. 
Reply comments will be due 30 days thereafter. Comments must refer to 
Docket No. RM07-2-000, and must include the commenter's name, the 
organization they represent, if applicable, and their address in their 
comments. Comments may be filed either in electronic or paper format.
    15. Comments may be filed electronically via the eFiling link on 
the Commission's Web site at https://www.ferc.gov. The Commission 
accepts most standard word processing formats and commenters may attach 
additional files with supporting information in certain other file 
formats. Commenters filing electronically do not need to make a paper 
filing. Commenters that are not able to file comments electronically 
must send an original and 14 copies of their comments to: Federal 
Energy Regulatory Commission, Secretary of the Commission, 888 First 
Street, NE., Washington, DC 20426.
    16. All comments will be placed in the Commission's public files 
and may be viewed, printed, or downloaded remotely as described in the 
Document Availability section below. Commenters on this proposal are 
not required to serve copies of their comments on other commenters.

VIII. Document Availability

    17. In addition to publishing the full text of this document in the 
Federal Register, the Commission provides all interested persons an 
opportunity to view and/or print the contents of this document via the 
Internet through the Commission's Home Page (https://www.ferc.gov) and 
in the Commission's Public Reference Room during normal business hours 
(8:30 a.m. to 5 p.m. Eastern time) at 888 First Street, NE., Room 2A, 
Washington DC 20426.
    18. From the Commission's Home Page on the Internet, this 
information is available on eLibrary. The full text of this document is 
available on eLibrary in PDF and Microsoft Word format for viewing, 
printing, and/or downloading. To access this document in eLibrary, type 
the docket number excluding the last three digits of this document in 
the docket number field.
    19. User assistance is available for eLibrary and the Commission's 
Web site during normal business hours from our Help Line at (202) 502-
8222 or the Public Reference Room at (202) 502-8371 Press 0, TTY (202) 
502-8659. E-Mail the Public Reference Room at 
public.referenceroom@ferc.gov.

List of Subjects

18 CFR Part 101

    Electric power, Electric utilities, Reporting and recordkeeping 
requirements, Uniform System of Accounts.

18 CFR Part 141

    Electric power, Reporting and recordkeeping requirements.

By direction of the Commission.
Magalie R. Salas,
Secretary.
    In consideration of the foregoing, the Commission proposes to amend 
parts 101 and 141, Chapter I, Title 18, Code of Federal Regulations, as 
follows:

PART 101--UNIFORM SYSTEM OF ACCOUNTS PRESCRIBED FOR PUBLIC 
UTILITIES AND LICENSEES SUBJECT TO THE PROVISIONS OF THE FEDERAL 
POWER ACT

    1. The authority citation for part 101 continues to read as 
follows:

    Authority: 16 U.S.C. 791a-825r, 2601-2645; 31 U.S.C. 9701; 42 
U.S.C. 7101-7352, 7651-7615o.

    2. Amend Part 101, General Instructions, 1. Classification of 
utilities, to add a new paragraph A.(3) and to revise the first 
sentence in paragraph B to read as follows:

General Instructions

    1. Classification of Utilities.
    A. * * *
    (3) Nonoperating. Utilities and licensees formerly designated as 
Major or Nonmajor that have ceased operation but continue to collect 
amounts pursuant to a Commission-accepted tariff or rate schedule, or a 
Commission order.
    B. This system applies to Major, Nonmajor, and Nonoperating 
utilities and licensees. * * *
* * * * *

PART 141--STATEMENTS AND REPORTS (SCHEDULES)

    3. The authority citation for part 141 continues to read as 
follows:

    Authority: 15 U.S.C. 79; 16 U.S.C. 791a-828c, 2601-2645; 31 
U.S.C. 9701; 42 U.S.C. 7101-7352.

    4. Revise Sec.  141.1(b)(1)(i) to read as follows:


Sec.  141.1  FERC Form No. 1, Annual report of Major electric 
utilities, licensees and others.

* * * * *
    (b) Filing requirements--(1) Who must file--(i) Generally. Each 
Major and each Nonoperating (formerly designated as Major) electric 
utility (as defined in part 101 of Subchapter C of this chapter) and 
other entity, i.e., each corporation, person or licensee as defined in 
section 3 of the Federal Power Act (16 U.S.C. 792 et seq.), including 
any agency, authority, or other legal entity or instrumentality engaged 
in generation, transmission, distribution, or sale of electric energy, 
however produced, throughout the United States and its possessions, 
having sales or transmission service equal to Major or Nonoperating 
(formerly designated as Major) as defined above, whether or not the 
jurisdiction of the Commission is otherwise involved, shall prepare and 
file electronically with the Commission the FERC Form No. 1 pursuant to 
the General Instructions set out in that form.
* * * * *
    5. Revise Sec.  141.2(b)(1)(i) to read as follows:


Sec.  141.2  FERC Form No. 1-F, Annual report for Nonmajor public 
utilities and licensees.

* * * * *
    (b) Filing requirements--(1) Who must file--(i) Generally. Each 
Nonmajor and each Nonoperating (formerly designated as Nonmajor) public 
utility and licensee as defined by the Federal Power Act, which is 
considered Nonmajor as defined in Part 101 of this chapter, shall 
prepare and file with the Commission an original and conformed copies 
of FERC Form No. 1-F pursuant to the General Instructions set out in 
that form.
* * * * *
    6. In Sec.  141.400, revise paragraphs (b)(1)(i), (b)(2) 
introductory text, and (b)(3) introductory text, to read as follows:
* * * * *


Sec.  141.400  FERC Form No. 3-Q, Quarterly financial report of 
electric utilities, licensees, and natural gas companies.

* * * * *
    (b) Filing Requirements--(1) Who must file--(i) Generally. Each 
electric utility and each Nonoperating (formerly designated as Major or 
Nonmajor) electric utility (as defined in part 101 of subchapter C of 
this chapter) and other entity, i.e., each corporation, person, or 
licensee as defined in section 3 of the Federal Power Act (16 U.S.C. 
792 et seq.), including any agency or instrumentality engaged in 
generation,

[[Page 926]]

transmission, distribution, or sale of electric energy, however 
produced, throughout the United States and its possessions, having 
sales or transmission service, whether or not the jurisdiction of the 
Commission is otherwise involved, must prepare and file with the 
Commission FERC Form No. 3-Q pursuant to the General Instructions set 
out in that form.
* * * * *
    (2) Each Major and Nonoperating (formerly designated as Major) (as 
defined in Part 101 of subchapter C of this chapter) public utility and 
licensee must file the quarterly financial report form as follows:
* * * * *
    (3) Nonmajor and Nonoperating (formerly designated as Nonmajor) 
public utilities and licensees must file the quarterly financial report 
form as follows:
* * * * *
[FR Doc. E6-22692 Filed 1-8-07; 8:45 am]
BILLING CODE 6717-01-P
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