Grid Resiliency Pricing Rule, 60134-60135 [2017-27187]
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60134
Federal Register / Vol. 82, No. 242 / Tuesday, December 19, 2017 / Proposed Rules
Aviation Administration proposes to
amend 14 CFR part 71 as follows:
ACTION:
Notification of extension of time
to take final action on the proposed rule.
PART 71—DESIGNATION OF CLASS A,
B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND
REPORTING POINTS
SUMMARY:
1. The authority citation for 14 CFR
part 71 continues to read as follows:
■
Authority: 49 U.S.C. 106(f), 106(g), 40103,
40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR,
1959–1963 Comp., p. 389.
§ 71.1
[Amended]
2. The incorporation by reference in
14 CFR 71.1 of FAA Order 7400.11B,
Airspace Designations and Reporting
Points, dated August 3, 2017, and
effective September 15, 2017, is
amended as follows:
■
Paragraph 6005 Class E Airspace Areas
Extending Upward From 700 Feet or More
Above the Surface of the Earth.
*
*
*
*
*
ANM ID E5 Paris, ID [New]
Bear Lake County Airport, ID
(Lat. 42°14′59″ N, long. 111°20′30″ W)
That airspace extending upward from 700
feet above the surface of Bear Lake County
Airport within the area bounded by lat.
42°29′26″ N, long. 111°36′13″ W; to lat.
42°29′32″ N, long. 111°28′55″ W; to lat.
42°21′52″ N, long. 111°28′07″ W; to the point
where the airport 325° bearing intersects the
airport 6.6-mile radius; thence clockwise
along the 6.6-mile radius of the airport to the
airport 017° bearing, to lat. 42°34′39″ N, long.
111°19′45″ W; to lat. 42°35′06″ N, long.
110°59′38″ W; to lat. 42°08′06″ N, long.
110°54′19″ W; to lat. 42°05′45″ N, long.
111°15′34″ W; to the point where the airport
150° bearing intersects the 6.6-mile radius of
the airport, thence clockwise along the 6.6mile radius of the airport to the airport 226°
bearing, to lat. 41°55′22″ N, long. 111°25′20″
W; to lat. 41°55′58″ N, long. 111°44′44″ W;
thence to the point of beginning.
Issued in Seattle, Washington, on
December 11, 2017.
Brian J. Johnson,
Acting Group Manager, Operations Support
Group, Western Service Center.
[FR Doc. 2017–27206 Filed 12–18–17; 8:45 am]
BILLING CODE 4910–13–P
sradovich on DSK3GMQ082PROD with PROPOSALS
DEPARTMENT OF ENERGY
Federal Energy Regulatory
Commission
18 CFR Part 35
[Docket No. RM18–1–000]
Grid Resiliency Pricing Rule
Federal Energy Regulatory
Commission, Department of Energy.
AGENCY:
VerDate Sep<11>2014
16:10 Dec 18, 2017
Jkt 244001
On October 10, 2017, the
Department of Energy (the Department
or DOE) published a proposed Grid
Resiliency Pricing Rule for final action
by the Federal Energy Regulatory
Commission (Commission or FERC).
Secretary of Energy Rick Perry (the
Secretary) directed FERC either to
publish an immediately-effective
interim rule or to take final action on
the proposed rule within 60 days of
publication, thereby establishing a
deadline of December 11, 2017. By letter
dated December 7, 2017, the
Commission requested an extension of
the proposed rule’s deadline. By letter
dated December 8, 2017, the Secretary
granted the Commission’s request. The
Secretary’s letter is set forth in full
below.
DATES: The Commission is granted an
extension for final action on the
proposed rule published in the Federal
Register on October 10, 2017 (82 FR
46940) by Wednesday, January 10, 2018.
FOR FURTHER INFORMATION CONTACT:
Ronald (R.J.) Colwell, U.S. Department
of Energy, Office of the Assistant
General Counsel for Electricity and
Fossil Energy (GC–76), Forrestal
Building, Room 6D–033, 1000
Independence Avenue SW, Washington,
DC 20585; (202) 586–9507; email
ronald.colwell@hq.doe.gov.
SUPPLEMENTARY INFORMATION: On
October 10, 2017, pursuant to authority
in section 403 of the Department of
Energy Organization Act, 42 U.S.C.
7173, the Department published a
proposed Grid Resiliency Pricing Rule
for final action by the Commission. 82
FR 46940. The Secretary proposed that
the Commission exercise its authority
under the Federal Power Act (FPA) to
establish just and reasonable rates for
wholesale electricity sales. Under the
proposal, the Commission would
impose rules on Commission-approved
independent system operators (ISOs)
and regional transmission organizations
(RTOs) to ensure that certain reliability
and resilience attributes of electric
generation resources are fully valued.
The Secretary directed the Commission
to take final action on this proposal
within 60 days of publication of the
proposed rule in the Federal Register
or, in the alternative, to issue the rule
as an interim final rule immediately,
with provision for later modifications
after consideration of public comments.
By letter dated December 7, 2017, the
Commission requested an extension of
time to take final action on the proposed
rule (the letter is available at https://
PO 00000
Frm 00009
Fmt 4702
Sfmt 4702
www.ferc.gov/DOE-letter.pdf). By letter
dated December 8, 2017, the Secretary
granted FERC’s request, setting a new
deadline of Wednesday, January 10,
2018, for action by the Commission. In
the letter, the Secretary stated that the
Commission is nevertheless authorized
to act at any time prior to this deadline
and urged the Commission to act
expeditiously. The Secretary’s letter is
set forth, in full, below.
Issued in Washington, DC, on December
13, 2017.
Bernard L. McNamee,
Deputy General Counsel for Energy Policy,
Office of the General Counsel, U.S.
Department of Energy.
December 8, 2017
The Honorable Kevin J. McIntyre, Chairman
Federal Energy Regulatory Commission
888 First Street, NE
Washington, DC 20426
Re: The Secretary of Energy’s Granting of the
Request for an Extension of Time for the
Commission to Take Final Action on the
Proposed Grid Reliability and Resiliency
Pricing Rule, FERC Docket No. RM18–1–
000
Dear Chairman McIntyre:
On December 7, I received your request for
an extension of time (‘‘Extension Request’’)
for the Federal Energy Regulatory
Commission (‘‘Commission’’) to take final
action on the proposed Grid Resiliency
Pricing Rule in the Notice of Proposed
Rulemaking (‘‘Notice’’ or ‘‘Proposal’’)
published in the Federal Register on October
10, and referenced in the above-captioned
FERC docket.
In the Notice and in my accompanying
letter of September 28, I made clear that there
is a problem today and that urgent action is
required to reform the Commission’s market
rules. I stated that, in light of serious threats
to the nation’s electricity grid, it is the
Commission’s immediate responsibility to
take action to ensure that generation
resources with on-site fuel supplies and the
ability to provide essential energy and
ancillary reliability services including
voltage support, frequency services,
operating reserves, and reactive power are
fully valued and, in particular, to exercise its
authority to develop new market rules that
will achieve this urgent objective. In the
letter I further stated that failure to act
expeditiously would be unjust, unreasonable,
and contrary to the public interest. The
voluminous comments filed in the record of
this proceeding provide substantial evidence
of, and otherwise confirm, the threat to the
nation’s electricity grid and the urgent need
for Commission action to reform market rules
to preserve fuel-secure generation resources.
Because of the urgency of this matter, the
60-day deadline imposed in the Notice is
reasonable within the meaning of Section 403
of the Department of Energy Organization Act
and is otherwise compliant with applicable
law. The better course would be for the
Commission to adopt the Proposal within
this reasonable deadline. If the Commission
fails to adopt the Proposal within the original
E:\FR\FM\19DEP1.SGM
19DEP1
Federal Register / Vol. 82, No. 242 / Tuesday, December 19, 2017 / Proposed Rules
deadline for the reasons stated in the
Extension Request, the security of our
nation’s electric grid will continue to be at
risk.
However, I understand that Section 403
assigns the Commission the responsibility to
take final action on the Proposal within the
reasonable time period set forth by me and
it is solely within my authority under Section
403 to grant an extension of time for final
action. On the assumption that the
Commission cannot act on the proposal
within the 60-day deadline, I hereby grant
the request for an extension of time for the
Commission to deliberate and take final
action on the Grid Resiliency Pricing Rule for
an additional 30 days.1 The new deadline is
Wednesday, January 10, 2018. The
Commission is nevertheless authorized to act
at any time prior to this deadline and I urge
the Commission to act expeditiously. During
this additional period, the Department will
continue to examine all options within my
authority under the Department of Energy
Organization Act, the Federal Power Act, and
any other authorities to take remedial action
as necessary to ensure the security of the
nation’s electric grid.
I continue to believe that urgent action
must be taken to ensure the resilience and
security of the electric grid, which is so
vitally important to the economic and
national security of the United States. I look
forward to the Commission taking final
action in this matter for the benefit of the
American people.
Sincerely,
Rick Perry
[FR Doc. 2017–27187 Filed 12–18–17; 8:45 am]
BILLING CODE 6450–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–119514–15]
RIN 1545–BM80
Exclusion of Foreign Currency Gain or
Loss Related to Business Needs From
Foreign Personal Holding Company
Income; Mark-to-Market Method of
Accounting for Section 988
Transactions
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice of proposed rulemaking.
AGENCY:
This document contains
proposed regulations that provide
guidance on the treatment of foreign
currency gain or loss of a controlled
foreign corporation (CFC) under the
business needs exclusion from foreign
sradovich on DSK3GMQ082PROD with PROPOSALS
SUMMARY:
1 This extension is granted pursuant to my
authority under section 403 of the Department of
Energy Organization Act, among other powers and
authorities granted to me by law.
VerDate Sep<11>2014
16:10 Dec 18, 2017
Jkt 244001
personal holding company income
(FPHCI). The proposed regulations also
provide an election for a taxpayer to use
a mark-to-market method of accounting
for foreign currency gain or loss
attributable to section 988 transactions.
In addition, the proposed regulations
permit the controlling United States
shareholders of a CFC to automatically
revoke certain elections concerning the
treatment of foreign currency gain or
loss. The proposed regulations affect
taxpayers and United States
shareholders of CFCs that engage in
transactions giving rise to foreign
currency gain or loss under section 988
of the Internal Revenue Code (Code).
DATES: Written or electronic comments
and requests for a public hearing must
be received by March 19, 2018.
ADDRESSES: Send submissions to
CC:PA:LPD:PR (REG–119514–15), Room
5203, Internal Revenue Service, P.O.
Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions
may be hand-delivered Monday through
Friday between the hours of 8 a.m. and
4 p.m. to CC:PA:LPD:PR (REG–119514–
15), Courier’s Desk, Internal Revenue
Service, 1111 Constitution Avenue NW,
Washington, DC, or sent electronically
via the Federal eRulemaking Portal at
https://www.regulations.gov (IRS REG–
119514–15).
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations,
Jeffery G. Mitchell, (202) 317–6934;
concerning submissions of comments or
requests for a public hearing, Regina
Johnson, (202) 317–6901 (not toll-free
numbers).
SUPPLEMENTARY INFORMATION:
Paperwork Reduction Act
The collections of information
contained in this notice of proposed
rulemaking have been submitted to the
Office of Management and Budget for
review in accordance with the
Paperwork Reduction Act of 1995 (44
U.S.C. 3507(d)). Comments on the
collections of information should be
sent to the Office of Management and
Budget, Attn: Desk Officer for the
Department of the Treasury, Office of
Information and Regulatory Affairs,
Washington, DC 20503, with copies to
the Internal Revenue Service, Attn: IRS
Reports Clearance Officer,
SE:W:CAR:MP:T:T:SP, Washington, DC
20224. Comments on the collection of
information should be received by
February 20, 2018.
Comments are specifically requested
concerning:
Whether the proposed collection of
information is necessary for the proper
performance of the duties of the IRS,
PO 00000
Frm 00010
Fmt 4702
Sfmt 4702
60135
including whether the information will
have practical utility;
The accuracy of the estimated burden
associated with the proposed collection
of information;
How the quality, utility, and clarity of
the information to be collected may be
enhanced;
How the burden of complying with
the proposed collection of information
may be minimized, including through
the application of automated collection
techniques or other forms of information
technology; and
Estimates of capital or start-up costs
and costs of operation, maintenance,
and purchases of services to provide
information.
The collection of information in these
proposed regulations is in proposed
§§ 1.954–2(g)(3)(iii) and (4)(iii) and
1.988–7. The information is required to
be provided by taxpayers and United
States shareholders of CFCs that make
an election or revoke an election with
respect to the treatment of foreign
currency gains and losses. The
information provided will be used by
the IRS for tax compliance purposes.
Estimated total annual reporting
burden: 5,000 hours.
Estimated average annual burden
hours per respondent: One hour.
Estimated number of respondents:
5,000.
Estimated annual frequency of
responses: One.
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a valid control
number assigned by the Office of
Management and Budget.
Books or records relating to a
collection of information must be
retained as long as their contents may
become material in the administration
of any internal revenue law. Generally,
tax returns and tax return information
are confidential, as required by 26
U.S.C. 6103.
Background
This document contains proposed
amendments to 26 CFR part 1 under
sections 446, 954(c)(1)(D), and 988 of
the Code. Section 446 requires taxpayers
to compute taxable income using
accounting methods that clearly reflect
income. Section 954(c)(1)(D) provides
that FPHCI includes the excess of
foreign currency gains over foreign
currency losses (as defined in section
988(b)) attributable to section 988
transactions, other than transactions
directly related to the business needs of
the CFC. Section 988 provides rules for
determining the source and character of
E:\FR\FM\19DEP1.SGM
19DEP1
]]>Agencies
[Federal Register Volume 82, Number 242 (Tuesday, December 19, 2017)]
[Proposed Rules]
[Pages 60134-60135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-27187]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
18 CFR Part 35
[Docket No. RM18-1-000]
Grid Resiliency Pricing Rule
AGENCY: Federal Energy Regulatory Commission, Department of Energy.
ACTION: Notification of extension of time to take final action on the
proposed rule.
-----------------------------------------------------------------------
SUMMARY: On October 10, 2017, the Department of Energy (the Department
or DOE) published a proposed Grid Resiliency Pricing Rule for final
action by the Federal Energy Regulatory Commission (Commission or
FERC). Secretary of Energy Rick Perry (the Secretary) directed FERC
either to publish an immediately-effective interim rule or to take
final action on the proposed rule within 60 days of publication,
thereby establishing a deadline of December 11, 2017. By letter dated
December 7, 2017, the Commission requested an extension of the proposed
rule's deadline. By letter dated December 8, 2017, the Secretary
granted the Commission's request. The Secretary's letter is set forth
in full below.
DATES: The Commission is granted an extension for final action on the
proposed rule published in the Federal Register on October 10, 2017 (82
FR 46940) by Wednesday, January 10, 2018.
FOR FURTHER INFORMATION CONTACT: Ronald (R.J.) Colwell, U.S. Department
of Energy, Office of the Assistant General Counsel for Electricity and
Fossil Energy (GC-76), Forrestal Building, Room 6D-033, 1000
Independence Avenue SW, Washington, DC 20585; (202) 586-9507; email
[email protected].
SUPPLEMENTARY INFORMATION: On October 10, 2017, pursuant to authority
in section 403 of the Department of Energy Organization Act, 42 U.S.C.
7173, the Department published a proposed Grid Resiliency Pricing Rule
for final action by the Commission. 82 FR 46940. The Secretary proposed
that the Commission exercise its authority under the Federal Power Act
(FPA) to establish just and reasonable rates for wholesale electricity
sales. Under the proposal, the Commission would impose rules on
Commission-approved independent system operators (ISOs) and regional
transmission organizations (RTOs) to ensure that certain reliability
and resilience attributes of electric generation resources are fully
valued. The Secretary directed the Commission to take final action on
this proposal within 60 days of publication of the proposed rule in the
Federal Register or, in the alternative, to issue the rule as an
interim final rule immediately, with provision for later modifications
after consideration of public comments. By letter dated December 7,
2017, the Commission requested an extension of time to take final
action on the proposed rule (the letter is available at https://www.ferc.gov/DOE-letter.pdf). By letter dated December 8, 2017, the
Secretary granted FERC's request, setting a new deadline of Wednesday,
January 10, 2018, for action by the Commission. In the letter, the
Secretary stated that the Commission is nevertheless authorized to act
at any time prior to this deadline and urged the Commission to act
expeditiously. The Secretary's letter is set forth, in full, below.
Issued in Washington, DC, on December 13, 2017.
Bernard L. McNamee,
Deputy General Counsel for Energy Policy, Office of the General
Counsel, U.S. Department of Energy.
December 8, 2017
The Honorable Kevin J. McIntyre, Chairman
Federal Energy Regulatory Commission
888 First Street, NE
Washington, DC 20426
Re: The Secretary of Energy's Granting of the Request for an
Extension of Time for the Commission to Take Final Action on the
Proposed Grid Reliability and Resiliency Pricing Rule, FERC Docket
No. RM18-1-000
Dear Chairman McIntyre:
On December 7, I received your request for an extension of time
(``Extension Request'') for the Federal Energy Regulatory Commission
(``Commission'') to take final action on the proposed Grid
Resiliency Pricing Rule in the Notice of Proposed Rulemaking
(``Notice'' or ``Proposal'') published in the Federal Register on
October 10, and referenced in the above-captioned FERC docket.
In the Notice and in my accompanying letter of September 28, I
made clear that there is a problem today and that urgent action is
required to reform the Commission's market rules. I stated that, in
light of serious threats to the nation's electricity grid, it is the
Commission's immediate responsibility to take action to ensure that
generation resources with on-site fuel supplies and the ability to
provide essential energy and ancillary reliability services
including voltage support, frequency services, operating reserves,
and reactive power are fully valued and, in particular, to exercise
its authority to develop new market rules that will achieve this
urgent objective. In the letter I further stated that failure to act
expeditiously would be unjust, unreasonable, and contrary to the
public interest. The voluminous comments filed in the record of this
proceeding provide substantial evidence of, and otherwise confirm,
the threat to the nation's electricity grid and the urgent need for
Commission action to reform market rules to preserve fuel-secure
generation resources.
Because of the urgency of this matter, the 60-day deadline
imposed in the Notice is reasonable within the meaning of Section
403 of the Department of Energy Organization Act and is otherwise
compliant with applicable law. The better course would be for the
Commission to adopt the Proposal within this reasonable deadline. If
the Commission fails to adopt the Proposal within the original
[[Page 60135]]
deadline for the reasons stated in the Extension Request, the
security of our nation's electric grid will continue to be at risk.
However, I understand that Section 403 assigns the Commission
the responsibility to take final action on the Proposal within the
reasonable time period set forth by me and it is solely within my
authority under Section 403 to grant an extension of time for final
action. On the assumption that the Commission cannot act on the
proposal within the 60-day deadline, I hereby grant the request for
an extension of time for the Commission to deliberate and take final
action on the Grid Resiliency Pricing Rule for an additional 30
days.\1\ The new deadline is Wednesday, January 10, 2018. The
Commission is nevertheless authorized to act at any time prior to
this deadline and I urge the Commission to act expeditiously. During
this additional period, the Department will continue to examine all
options within my authority under the Department of Energy
Organization Act, the Federal Power Act, and any other authorities
to take remedial action as necessary to ensure the security of the
nation's electric grid.
---------------------------------------------------------------------------
\1\ This extension is granted pursuant to my authority under
section 403 of the Department of Energy Organization Act, among
other powers and authorities granted to me by law.
---------------------------------------------------------------------------
I continue to believe that urgent action must be taken to ensure
the resilience and security of the electric grid, which is so
vitally important to the economic and national security of the
United States. I look forward to the Commission taking final action
in this matter for the benefit of the American people.
Sincerely,
Rick Perry
[FR Doc. 2017-27187 Filed 12-18-17; 8:45 am]
BILLING CODE 6450-01-P
