Current through Vol. 24-16, September 15, 2024
Rule 1.
(1) The
federal uniform system of accounts for major and nonmajor electric utilities
promulgated by the United States federal energy regulatory commission and
codified at 18 CFR Part 101, as amended through April 1, 2010, is adopted by
reference in these rules as of January 1, 2011. The rules are prescribed for
the use of all electric utilities under the jurisdiction of the Michigan public
service commission, subject to the following exceptions and conditions unless
otherwise ordered by the Michigan public service commission:
(a) All orders and practices of the Michigan
public service commission in effect as of the effective date of this rule with
accounting impacts that conflict with provisions of the uniform system of
accounts for major and nonmajor electric utilities at the request of or
affecting each specific utility shall remain in effect, and future orders and
practices with such impacts shall supersede the provisions of the uniform
system of accounts for major and nonmajor electric utilities for Michigan
retail jurisdictional purposes.
(b)
All references to federal statutes, federal regulations, and other federal
documents are inapplicable where they are not applicable to the jurisdiction
exercised by the Michigan public service commission.
(c) Nothing in these rules shall affect the
validity of accounting practices approved in Michigan public service commission
orders issued prior to the effective date of these rules. Utilities subject to
any such orders may conform the related accounts to the updated accounts
adopted by these rules, with notice to the commission.
(d) The Michigan public service commission
may authorize electric utilities to utilize account numbers not listed in the
federal energy regulatory commission's uniform system of accounts for major and
nonmajor electric utilities.
(e)
The electric utilities under the jurisdiction of the Michigan public service
commission shall apply to the Michigan public service commission for Michigan
retail jurisdictional use of the following accounts:
(i) Account 182.1 - Extraordinary property
losses.
(ii) Account 182.2 -
Unrecovered plant and regulatory study costs.
(iii) Account 182.3 - Other regulatory
assets.
(iv) Account 254 - Other
regulatory liabilities.
(v) Account
407 - Amortization of property losses, unrecovered plant and regulatory study
costs.
(vi) Account 407.3 -
Regulatory debits.
(vii) Account
407.4 - Regulatory credits.
(f) In addition to the accounts listed in 18
CFR Part 101 (2010), the following accounts shall be adopted in order to
maintain consistency with accounts previously required by the Michigan public
service commission:
(i) Account 246 - Federal
income taxes accrued for prior years.
(ii) Account 246.1 - State and local taxes
accrued for prior years.
(iii)
Account 247 - Federal income taxes accrued for prior years -
adjustments.
(iv) Account 247.1 -
State and local taxes accrued for prior years - adjustments.
(2) Each electric
utility subject to this rule shall file the following with the Michigan public
service commission:
(a) In utility filings
and other correspondence with the federal energy regulatory commission or its
staff, on and after the effective date of this rule, regarding the utility's
accounting practices or the uniform system of accounts for major and nonmajor
electric utilities, including but not limited to requests for accounting
guidance and or approval of accounting entries, the portion of the initial
filing or correspondence by the utility relating to accounting practices or the
uniform system of accounts for major and nonmajor electric utilities, and the
final disposition of the matter.
(b) In other changes in the utility's
accounting practices prompted by the federal energy regulatory commission
orders, directives, or correspondence, a written explanation of the change in
practice.
(c) In the regular
periodic or special compliance audits performed on and after the effective date
of this rule by the federal energy regulatory commission or its staff,
notification of the commencement of the audit and a copy of the final audit
report.
(3) The adopted
regulations are available via the internet at www.gpoaccess.gov/cfr/ at no
charge as of the time of the adoption of these rules. A printed copy of the
code of federal regulations, Title 18, Conservation of power and water
resources, parts 1-399, revised as of April 1, 2010, is available from the
United States government printing office, 732 N. Capitol Street, NW,
Washington, DC 20401, or by telephone at 1-866-512-1800 (toll free) or
202-512-1800 for a cost of as of the time of the adoption of these rules of
$68.00. The uniform system of accounts may also be purchased online at
http://bookstore.gpo.gov/, or from the Michigan Department of Energy, Labor,
and Economic Growth, Michigan Public Service Commission, P.O. Box 30221,
Lansing, Michigan, 48909 for a cost as of the time of adoption of these rules
of $68.00 plus shipping and handling.
