[Federal Register Volume 59, Number 152 (Tuesday, August 9, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-18871]
[[Page Unknown]]
[Federal Register: August 9, 1994]
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DEPARTMENT OF ENERGY
18 CFR Parts 342, 346, 347, 357, and 385
[Docket No. RM94-2-000]
Cost-of-Service Filing and Reporting Requirements for Oil
Pipelines; Notice of Proposed Rulemaking
July 28, 1994.
AGENCY: Federal Energy Regulatory Commission.
ACTION: Notice of proposed rulemaking.
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SUMMARY: The Federal Energy Regulatory Commission is proposing to
revise the information reported by oil pipelines in their Form No. 6,
Annual Report of Oil Pipeline Companies, and to amend its regulations
to adopt filing requirements for cost-of-service rate filings by oil
pipelines.
DATES: Comments are due no later than September 8, 1994.
ADDRESSES: An original and 14 copies of written comments must be filed.
All filings should refer to Docket No. RM94-2-000 and should be
addressed to Office of the Secretary, Federal Energy Regulatory
Commission, 825 North Capitol Street, NE., Washington, DC 20426.
FOR FURTHER INFORMATION CONTACT:
Harris S. Wood, Office of the General Counsel, Federal Energy
Regulatory Commission, 825 North Capitol Street, NE., Washington, DC
20426, (202) 208-0224.
SUPPLEMENTARY INFORMATION: In addition to publishing the full text of
this document in the Federal Register, the Commission also provides all
interested persons an opportunity to inspect or copy the contents of
this document during normal business hours in Room 3104, 941 North
Capitol Street, NE., Washington, DC 20426.
The Commission Issuance Posting System (CIPS), an electronic
bulletin board service, provides access to the texts of formal
documents issued by the Commission. CIPS is available at no charge to
the user and may be accessed using a personal computer with a modem by
dialing (202) 208-1397. To access CIPS, set your communications
software to use 300, 1200, or 2400 bps, full duplex, no parity, 8 data
bits an 1 stop bit. CIPS can also be accessed at 9600 bps by dialing
(202) 208-1781. The full text of this proposed rule will be available
on CIPS for 30 days from the date of issuance. The complete text on
diskette in Wordperfect format may also be purchased from the
Commission's copy contractor, La Dorn Systems Corporation, also located
in Room 3104, 941 North Capitol Street, NE., Washington, DC 20426.
The Federal Energy Regulatory Commission (Commission) proposes to
revise the information reported by oil pipelines in their FERC Form No.
6, Annual Report of Oil Pipeline Companies (Form No. 6), and to
establish filing requirements for cost-of-service rate filings by oil
pipelines. The Commission also proposes to issue rules for oil
pipelines performing depreciation studies. Finally, the Commission
proposes to require oil pipelines to file Form No. 6 on an electronic
medium in addition to a paper filing. All these changes are proposed to
become effective January 1, 1995, concurrently with the new regulations
promulgated by Order No. 561.\1\
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\1\Revisions to Oil Pipeline Regulations Pursuant to Energy
Policy Act, Order No. 561, III FERC Stats. & Regs. 30,985 (1993);
Order on Rehearing, Order No. 561-A, 68 FERC paragraph 61,138
(1994), issued concurrently with this Notice.
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I. Background
In Order No. 561, issued by the Commission on October 22, 1993, the
Commission established an indexing methodology to be used by oil
pipelines as the generally applicable and simplified methodology for
regulating oil pipeline rates on or after January 1, 1995. The indexing
methodology will establish ceilings on oil pipeline rates. The
Commission also recognized that there might be instances where
pipelines using the indexing methodology to establish ceilings on their
rates could substantially underrecover their prudent costs. The
Commission provided the opportunity for pipelines to seek an exception
to indexing in those instances. Further, the Commission provided that
rates for new services could be established either through negotiation
or by use of a cost-of-service methodology.\2\
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\2\18 CFR Sec. 342.2.
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In Order No. 561, as modified by Order No. 561-A, the Commission
has provided a balanced approach to the index ratemaking methodology.
On the one hand, it would allow an oil pipeline to file for rates above
the indexed ceiling when the pipeline can show that there is a
substantial divergence between the costs to be experienced by the
pipeline and the revenues that would be produced by indexed rates. On
the other hand, it would allow challenges to an oil pipeline's proposed
indexed rates based on allegations that the indexed rates would produce
increased revenues substantially in excess of the pipeline's actual
increase in costs.\3\ The Commission also recognized that cost-of-
service rate filing information would be necessary for interested
parties to decide whether to challenge proposed cost-of-service rates,
and that Form No. 6 might need to be revised to enable effective cost-
based challenges to indexed rates.
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\3\As noted in Order No. 561-A, the Commission is requiring that
there be a substantial divergence between actual costs and rates to
allow for efficiency gains that may occur.
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The Commission initiated this proceeding as a companion to Order
No. 561 to inquire into the cost information that oil pipelines should
include with their cost-of-service rate filings and in their annual
Form No. 6 reports. The Commission thus issued a Notice of Inquiry
(NOI)\4\ to solicit comments on the appropriate information to be
included by oil pipelines with their cost-of-service rate filings and
whether it is necessary to revise the information reported by oil
pipelines in Form No. 6. The Commission further solicited comments on
whether and how cost-of-service ratemaking might be streamlined.\5\
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\4\IV FERC Stats. & Regs. 35,528, entitled Cost-of-Service
Filing and Reporting Requirements for Oil Pipelines.
\5\In Docket No. RM94-1-000, Market-Based Ratemaking for Oil
Pipelines, the Commission solicited comments on whether to continue
to permit oil pipelines to seek market based rates and, if so, the
appropriate standards for making a determination that a pipeline
lacks significant market power. This matter is the subject of a
separate notice of proposed rulemaking, issued contemporaneously.
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Comments and/or reply comments were received from six oil
pipelines,\6\ one shipper,\7\ four trade associations representing
either pipelines or shippers,\8\ and the State of Alaska. These
comments indicated a need for revising Form No. 6 in many respects, as
discussed below. While the Commission has not had specific filing
requirements for rate changes since it began regulating oil pipelines
in 1977,\9\ the comments generally supported a specific set of
regulations for cost-of-service rate filings. However, there was no
consensus on what those regulations should contain.
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\6\ARCO Pipe Line Company, Four Corners Pipeline Company and
ARCO Transportation Alaska, Inc. (collectively, ARCO); Williams Pipe
Line Company (Williams); Marathon Pipe Line Company (Marathon);
CITGO Pipeline Company (CITGO); Badger Pipe Line Company (Badger);
Kaneb P/L Operating Partnership, L.P. (Kaneb); and Lakehead Pipe
Line Company (Lakehead).
\7\Chevron U.S.A. Products Company (Chevron).
\8\Association of Oil Pipe Lines (AOPL) representing pipelines;
and the Petrochemical Energy Group (PEG), the Independent Petroleum
Association of America (IPAA), and the National Counsel of Farmer
Cooperatives (NCFC), representing shippers.
\9\Jurisdiction of oil pipelines was transferred from the
Interstate Commerce Commission to the Commission in 1977. See
Department of Energy Organization Act, 42 U.S.C. 7101 (1988).
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Upon review of the comments, the Commission proposes to revise and
update Form No. 6 so that the information reported by oil pipelines
will enable shippers to analyze oil pipeline cost changes to determine
whether to challenge indexed rate filings, and enable the Commission to
monitor the effectiveness of the index in reflecting cost changes
experienced by pipelines. The Commission also proposes to establish,
through regulations, the specific filing requirements for cost-of-
service filings for oil pipelines to conform to the Opinion No. 154-B
methodology.\10\
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\10\Opinion No. 154-B methodology is derived from the
Commission's opinions in Williams Pipe Line Company, Opinion No.
154-B, 31 FERC 61,377 (1985), on rehearing, Opinion No. 154-C,
Williams Pipeline Company, 33 FERC 61,327 (1985); and ARCO Pipe
Line Company, Opinion No. 351, 52 FERC 61,055 (1990), on rehearing,
Opinion No. 351-A, ARCO Pipe Line Company, 53 FERC 61,398 (1990).
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II. Public Reporting Burden
The Commission estimates the public reporting burden for the
collections of information under the proposed rule will be reduced for
Form No. 6 by approximately 7 percent and will, in effect, remain
unchanged for rate filings, since the Commission proposes to codify the
information to be provided which the Commission's staff has requested
of oil pipelines for cost-of-service rate filings in the past. The
information will be collected on Form No. 6, ``Annual Report of Oil
Pipeline Companies'' and FERC-550, ``Oil Pipeline Rates: Tariff
Filings.''\11\ These estimates include the time for reviewing
instructions, researching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the
collection of information. The current annual reporting burden
associated with these information collection requirements is as
follows:
\11\FERC-550 is the designation covering oil pipeline tariff
filings made to the Commission.
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Form No. 6: 22,200 hours, 148 responses, and 148 respondents; and
FERC-550: 5,350 hours, 535 responses, and 140 respondents.
The proposed rule will reduce the existing reporting burden
associated with Form No. 6 by an estimated 1480 hours annually, or an
average of 10 hours per response based on an estimated 148 responses.
This estimate includes the addition of two new schedules, the
elimination of several schedules, and increasing the reporting
thresholds for which oil pipelines must analyze and report certain
data.
Comments regarding these burden estimates or any other aspect of
these collections of information, including suggestions for reducing
this burden, can be sent to the Federal Energy Regulatory Commission,
941 North Capitol Street, N.E., Washington, DC 20426 [Attention:
Michael Miller, Information Services Division, (202) 208-1415]; and to
the Office of Information and Regulatory Affairs of OMB (Attention:
Desk Officer for Federal Energy Regulatory Commission), FAX: (202) 395-
5167.
III. Overview
Under Sec. 342.4(a) of the regulations as promulgated by Order No.
561-A, a pipeline can make a cost-of-service rate filing to show that
there is a substantial divergence between the actual costs experienced
by the carrier and the revenues which will be realized from ceiling
rates resulting from application of the index.\12\ A shipper may
protest an indexed rate change where it can show a significant
discrepancy between the rate change filed and the change in the
pipeline's costs in the interim since the last rate change.\13\
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\12\18 CFR Sec. 342.4(a).
\13\18 CFR Sec. 343.2(c)(1).
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The NOI requested comments on how standard information might be
collected and made available to provide a minimum adequate basis for
comparing changes in a pipeline's rates and costs, without requiring
unduly burdensome data filings by the pipelines. The goal was to
develop a final rule that would be supported by a consensus of the oil
pipeline industry and its customers. Some pipelines' comments urged
adoption of a stand-alone costing methodology,\14\ while others
indicated that the Commission should continue to use the Opinion No.
154-B methodology.\15\ Shippers and the State of Alaska also urged
retention of the Opinion No. 154-B methodology.\16\ Some conmmenters
also suggested modifications to the data contained in Form No. 6.\17\
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\14\AOPL, Marathon.
\15\Williams, ARCO.
\16\See, PEG and NCFC comments and reply comments.
\17\AOPL, Williams, ARCO, Marathon, PEG, Alaska, and Chevron.
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In view of the lack of a consensus among the parties filing
comments and the absence of any persuasive reasons for changing the
existing cost-based methodology, the Commission will continue to use
the Opinion No. 154-B ratemaking methodology as reflected in the
proposed regulations. The Commission proposed cost-of-service rate
filing requirements that are intended to include all the information
necessary to support a rate filing under Opinion No. 154-B. As for the
historical base data in Form No. 6, the Commission proposes changes
that are intended to permit a first level analysis of the relation of a
proposed change in rates under the indexing methodology to the changes
in cost actually experienced by a pipeline. They also are intended to
provide a basis for a Commission determination of whether a protest has
merit.
IV. The Proposed Rule
A. Revisions to Form No. 6
1. Proposed Changes to Conform With Order No. 561
Form No. 6 should contain information that will permit its use for
a number of purposes: developing initial rates for new service,
reviewing changes in rates made by use of the index, monitoring
existing rages, and analyzing and auditing finances. At present, the
primary focus of Form No. 6 is on financial accounting information that
is gathered based on accounting principles which are different in some
respects from the ratemaking principles used to establish rates for oil
pipelines. To serve as a tool to evaluate the performance of the index
and future changes in oil pipeline rates using the index methodology,
Form No. 6 should be revised to include additional information.
Revisions to Form No. 6 are needed to provide at least a
preliminary basis for shipper assessments of filed rate changes under
Order No. 561. Form No. 6 data should be complete enough to enable an
evaluation of whether a proposed rate change substantially exceeds the
pipeline's changes in costs. As currently structured, Form No. 6 does
not provide sufficient information to do this.
Only limited additional information would be needed in Form No. 6
to permit adequate preliminary review of a pipeline's cost-of-service
showings, and to permit shipper comparison of indexed rate changes with
changes in costs incurred. A single new schedule is proposed to be
added to Form No. 6, showing basic information needed for a review of
rate filings made within the index cap. The proposed new schedule,
appearing as page 700 of Form No. 6, would require each pipeline
company to report, as of the end of the reporting year and the
immediately preceding year, its Total Annual Cost of Service (as
calculated under the Order No. 154-B methodology), operating revenues,
and throughput in barrels and barrel-miles. This schedule should permit
a shipper to compare proposed changes in rates against the change in
the level of a pipeline's cost of service. It should also permit a
shipper to compare the change in a shipper's individual rate with the
change in the pipeline's average company-wide barrel-mile rate. The
proposed new schedule is set forth as a part of Appendix A to this
NOPR. Underlying calculations of and supporting data for these figures
would not be required to be reported in Form No. 6.
The use of trended original cost to establish a rate base for oil
pipelines, as required by the Opinion No. 154-B methodology, entails
complex calculations to derive annual figures for equity and equity
returns for ratemaking purposes. This calculation will differ from the
book equity figures contained in Form No. 6, which are required for
financial reporting purposes. In the Commission's view, to require the
display of these calculations in Form No. 6 would be cumbersome and not
be of significant benefit in a shipper's determination of whether to
protest a pipeline's indexed rate filing.\18\ In any event, if a
shipper protest results in a cost-of-service justification by the
pipeline, the underlying calculations would be available.
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\18\For a discussion of the differences in the equity and equity
return figures contained in Form No. 6 and the use of those figures
for ratemaking purposes under the Opinion No. 154-B methodology, see
Supplemental Brief of AOPL filed in Docket No. RM93-11-000 on
January 21, 1994, at 11-12.
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The changes proposed to Form No. 6 are proposed to be effective for
reporting year 1995. The 1995 Form No. 6 would be filed on or before
March 31, 1996. The new schedule appearing on page 700 therefore would
not be required for Form No. 6 filings until March 31, 1996, for
reporting year 1995. In the interim, the Commission proposed that a
verified copy of this new schedule for calendar years 1993 and 1994 be
prepared separately and filed concurrently with the first indexed rate
change filing made by a pipeline after January 1, 1995, or by March 31,
1995, whichever is earlier. For index rate change filings made early in
1995, complete data may not be available. In this instance, a 1994
schedule shall be prepared utilizing the most recently available data
annualized for 1994. By March 31, 1995, a new 1994 schedule must be
submitted, using the actual 1994 data.
This would provide shippers with the necessary information for an
analysis of proposed indexed rate changes after January 1, 1995, the
effective date of the regulations in Order No. 561. In addition, as
discussed below, the information on this page would become part of the
Commission's evaluation of the effectiveness of the index. Accordingly,
the Commission proposes to amend Sec. 342.3(b) of the regulations to
require a verified copy of a schedule containing the information
contained on page 700 for calendar years 1993 and 1994 to be filed with
the first indexed rate change filing made after January 1, 1995, or by
March 31, 1995, whichever is earlier.
In Order No. 561, the Commission stated it would monitor the
effectiveness of the index in tracing industry costs. These reviews
will occur every five years, commencing July 1, 2000.\19\ The proposed
page 700, together with other information contained in Form No. 6, will
permit the Commission to use the Form No. 6 data to help fulfill this
commitment. Since the Total Cost of Service, for example, is derived
from all of the components of a pipeline's cost and capital properties,
this figure, when used in conjunction with other Form No. 6
information, will provide details on general trends affecting each
company.
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\19\III FERC Stats. & Regs. 30,985 (1993), at 30,947.
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2. Other Proposed Changes to Form No. 6
Since the regulatory responsibility for oil pipelines was
transferred to this Commission from the Interstate Commerce Commission
in 1977, only cosmetic changes have been made to Form No. 6, other than
the addition of a Statement of Cash Flow. In addition to the changes
that are proposed to conform with Order No. 561, as discussed above,
there are other changes that should make Form No. 6 a more useful
report.
The Commission asked, in the NOI, what existing Form No. 6
reporting requirements (e.g., data or cost elements, schedules, or
instructions) should be eliminated or modified. Alaska recommended that
the Commission eliminate all schedules in Form No. 6 that are unrelated
to a pipeline's cost of service. It suggested that the Commission
require pipeline companies to report information separately for each
pipeline or system for which a cost of service is calculated. Alaska
also suggested that the Commission require pipelines to calculate and
report expense items using their cost-of-service methods in addition to
the method used for financial reporting.\20\ PEG similarly suggested
that the Commission adjust the Form No. 6 filing requirements so that
the data in Form No. 6 conforms to the principles of cost-of-service
ratemaking, and suggested that the Commission require pipelines to
conform their Form No. 6 data to embody the principles set forth in the
initial decision in Southern Pacific Pipe Lines, Inc., 39 FERC 63,018
(1987),\21\ and that the Commission require pipelines to calculate and
report data consistent with that initial decision.\22\
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\20\Alaska comments, pp. 5-8.
\21\Settlement in this case was reached before the Commission's
review of the initial decision.
\22\PEG comments, pp. 3-9.
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AOPL suggested that numerous schedules in Form No. 6 be changed or
eliminated to bring it up to date and to facilitate the Commission's
review of industry cost experience for purposes of the index
mechanism.\23\ ARCO suggested that several schedules, such as those
relating to accounts receivable and accounts payable, the miles of pipe
operated at the end of the year, and statistics of operation, be
eliminated to lessen the reporting burden.\24\ Marathon suggested
extension changes to Form No. 6, such as the establishment of an
electronic spreadsheet and filing capability, use of comparative
information for certain accounts, and consolidation or elimination of
certain schedules.\25\
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\23\AOPL comments, pp. 42-47.
\24\ARCO comments, p. 13, n. 24.
\25\Marathon comments, pp. 7-8.
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Based on the comments and review of the current schedules in Form
No. 6, the Commission proposes several changes to the annual report for
oil pipelines. To simplify the Form No. 6 data, the Commission proposes
to delete information not relevant to the Commission's regulatory
responsibilities under the ICA. The Commission also proposes to modify
certain Form No. 6 financial statements to a comparative format by
requiring two years of data to enhance their usefulness and to conform
the Form No. 6 data formats to the formats of FERC Nos. 1\26\ and 2\27\
(Form Nos. 1 and 2) for electric utilities and natural gas pipeline
companies, respectively.
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\26\Annual Report of Major Electric Utilities, Licensees, and
Others.
\27\Annual Report of Natural Gas Companies.
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The Commission proposes to change the format of several schedules
to accommodate electronic filing and reporting requirements for Form
No. 6 similar to that used for Form No. 1. The Commission proposes to
require electronic filing beginning with reports filed for the 1995
reporting year (i.e, reports due on or before March 31, 1996).
Electronic filing of Form No. 6 information, similar to that for Form
No. 1, should reduce the reporting burden for both large and small
pipelines. Financial information reported electronically should also
aid the Commission in conducting reviews of the pipeline companies and
the rates charged.
The Commission also proposes to eliminate unneeded schedules or
individual data elements, and to modify certain schedules so they will
contain more useful and relevant data. A sample copy of the pages in
Form No. 6 as proposed to be modified are attached as Appendix A.
The specific changes the Commission proposes are:
Corporate Control Over Respondent--Page 102
Some format modifications are proposed for electronic reporting
purposes to better report vertical control of respondent from the
immediate parent to ultimate controlling parent company.
Companies Controlled by Respondent--Page 103
This is a new schedule proposed to be added a new page 103, similar
to the schedules currently in Forms Nos. 1 and 2, to report all
subsidiaries directly controlled by a respondent.
Principal General Officers--Page 104
The Commission proposes that ``Office Address'' be replaced by
``Salary,'' to make the format the same as Form Nos. 1 and 2.
Directors--Page 105
The Commission proposes to modify this schedule to delete the
instructions at the top of the page and information required at lines
21 through 23. The Commission proposes to replace the deleted material
with similar instructions at the top of the schedule and to insert
``Title'' in addition to ``Name of Director'' in column (a). This will
make the format the same as Form Nos. 1 and 2.
Voting Powers of Security Holders--Pages 106 and 107
The Commission proposes to delete this schedule because it is not
needed for Commission regulatory purposes.
Important Changes During the Year--Pages 108 and 109
The Commission proposes that the current format be replaced with
instructions similar to Form Nos. 1 and 2.
Comparative Balance Sheet Statement--Pages 110, 111 and 113
Income Statement--Page 114
Appropriated Retained Income--Page 118
Unappropriated Retained Income Statement--Page 119
Statement of Cash Flows--Pages 120 and 121
The Commission proposes to modify these financial statements to
require that data be presented on a comparative basis (i.e., for two
years) to enhance the usefulness of these financial statements. The
Commission proposes to delete from page 119 the schedule showing
Dividend Appropriations of Retained Income, because it is not needed
for Commission regulatory purposes.
Working Capital--Page 117
The Commission proposes to delete this schedule because it is not
needed for Commission regulatory purposes.
Notes to Financial Statements--Pages 122 and 123
The Commission proposes to add new instructions which would require
statements of a company's accounting practices and policies (with
specific reference to such matters as income taxes, pensions and post-
retirement benefits); and significant matters concerning acquisitions
and sales, significant contingencies and liabilities existing at the
end of the year, and other matters that will materially affect company
operations.
Receivables From Affiliated Companies--Page 200
The reporting thresholds in Instruction No. 2 are proposed to be
raised from $100,000 to $500,000.
General Instructions Concerning Schedules 202 Through 205--Page 201
The Commission proposes to modify these instructions to conform
with Form Nos. 1 and 2 by deleting the subclassifications presently
required.
Other Investments--Pages 206 and 207
Securities, Advances and Other Intangibles Owned or Controlled Through
Nonreporting Carrier and Noncarrier Subsidiaries--Pages 208 and 209
The Commission proposes to delete these schedules because they are
not needed for Commission regulatory purposes.
Instructions for Schedule 212-213--Page 211
The Commission proposes to modify the footnote to Instruction No. 3
to require that a respondent identify the original cost of property
purchased or sold. This information is useful in the analysis of
carrier property transactions between oil pipeline companies. In
addition, the reporting thresholds in Instruction Nos. 3 and 5 are
proposed to be raised from $50,000 and $100,000 to $250,000 and
$500,000, respectively.
Amortization Base and Reserve--Pages 218 and 219
The reporting thresholds in Instruction No. 4 are proposed to be
raised from $10,000 to $100,000.
Noncarrier Property--Page 220
The reporting thresholds in Instruction No. 2 are proposed to be
raised from $100,000 to $250,000.
Other Deferred Charges--Page 221
The reporting thresholds in the instruction are proposed to be
raised from $100,000 to $250,000.
Payables to Affiliated Companies--Page 225
The reporting thresholds in Instruction Nos. 2 and 3 are proposed
to be raised from $100,000 to $250,000.
Analysis of Federal Income and Other Taxes Deferred--230 and 231
The Commission proposes to replace the current reporting format
with instructions that require an analysis of the respondent's current
and deferred income tax liability.
Capital Stock--Pages 250 and 251
The Commission proposes that the current schedules be replaced with
schedules and instructions similar to Form No. 2.
Operating Expense Accounts--Pages 302 Through 304
The Commission proposes to delete ``Operating Ratio'' at line 23
because it is not needed for Commission regulatory purposes.
Interest and Dividend Income--Page 336
The Commission proposes to delete the reference to Schedule pages
206 to 207 at line 2 because these pages are proposed to be eliminated.
Miscellaneous Items in Income and Retained Income Accounts for the
Year--Page 337
The reporting thresholds in Instruction No. 2 are proposed to be
raised from $100,000 to $250,000.
Employees and Their Compensation--Page 350
The Commission proposes to replace the present number of classes on
this schedule with only four work classes.
Payments for Services Rendered by Other Than Employees--Page 351
The reporting thresholds in Instruction No. 1 are proposed to be
raised from $30,000 to $100,000.
Finally, since the Commission proposes to require oil pipelines to
file Form No. 6 on an electronic medium, in addition to paper filing,
commencing with reporting year 1995 (reports due March 31, 1996),
Sec. 385.2011 of Part 385 of the Code of Federal Regulations is
proposed to be changed. The formats for electronic filing and the paper
copy would be obtainable at the Federal Energy Regulatory Commission,
Division of Public Information, 825 North Capitol Street, N.E.,
Washington, D.C. 20426. It is anticipated that the electronic formats
would be established by January 1, 1996, after consideration of the
views of all interested parties.
B. Cost-of-Service Filing Requirements
1. Summary
In the NOI in this docket, the Commission asked whether there are
ways to simplify and streamline the Commission's current cost-of-
service methodology to aid review of a pipeline's over-all revenue
requirement. As discussed earlier, a number of comments were received
on the methodology, but no consensus could be ascertained from the
comments. Therefore, the Commission will continue to require the use of
the Opinion No. 154-B cost-of-service methodology. The proposed filing
requirements are designed to implement this requirement.
As with present rate filings, and as required by Order No. 561, a
pipeline seeking to change rates is required to file a transmittal
letter containing the previous rate for the same movement or service,
the applicable ceiling rate for the movement in question, and the new
proposed tariff.\28\ This is all that is required to be filed for a
rate change within the index.
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\28\18 CFR 342.3(b).
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The Commission proposes to require a pipeline to file additional
information if it is filing for a cost-of-service rate above the
indexed rate change, or as support for an initial rate. This
information should permit a pipeline to establish an initial case for
cost-of-service rates. The additional filing requirements should
provide sufficient information for a preliminary cost-of-service
showing and will include an up-to-date overall cost of service for the
pipeline, calculated in accordance with Opinion No. 154-B methodology.
If the Commission institutes an investigation into a pipeline's rates,
additional information may be required of the pipeline. The new filing
requirements are set forth in proposed Part 346.
Part 346 also contains the Commission's proposed definition of the
terms ``base period'' and ``test period.'' The definitions of these
terms are consistent with the principles contained in the definitions
of similar terms in Section 154.63 of the Regulations under the Natural
Gas Act,\29\ applicable to natural gas pipeline companies.
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\29\18 CFR Sec. 154.63(e)(2)(i) (1993).
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2. The Supporting Statements
The oil pipeline must file the following statements and supporting
work papers to support either an initial rate developed on a cost-of-
service basis or a change in rates using the cost-of-service
methodology. Such filing is proposed to be in both electronic and paper
formats.
Statement A--Total Cost of Service
This statement would show the calculation of the Total Cost of
Service for a pipeline.
Statement B--Operation and Maintenance
This statement would report the operation, maintenance,
administrative and general expenses, and depreciation and amortization
expenses.
Statement C--Overall Return on Rate Base
This statement would show the derivation of the return on rate base
consisting of deferred earnings, equity and debt ratios, weighted cost
of capital, and costs of debt and equity.
Statement D--Income Taxes
This statement would show the calculation of the Income Tax
Allowance.
Statement E--Rate Base
This statement would show the calculation of the return rate base
required by Opinion No. 154-B methodology to derive the cost of
service.
Statement F--Allowance for Funds Used During Construction
This statement would show the calculation of the Allowance for
Funds Used During Construction (AFUDC).
Details of the various statements and supporting schedules are
found in the proposed regulations.
C. Other Proposed Changes
Depreciation Studies
In Order No. 561, the Commission stated that it would be the
pipelines' responsibility in the future to perform depreciation studies
to establish revised depreciation rates for oil pipelines. The
Commission further stated that the specific requirements for such
studies would be developed in this proceeding.\30\
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\30\III FERC Stats. & Regs, 30,985 (1993), at 30,967-8.
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In new Part 347 of the Commission's regulations, the Commission
proposes to require the following information to justify a request for
either new or changed carrier account depreciation rates:
a. A brief summary of the general principles on which the proposed
depreciation rates are based (e.g., why the economic life of the
pipeline section is less than the physical life).
b. An explanation of the organization, ownership, and operation of
the pipeline.
c. A table of the proposed depreciation rates by primary carrier
account.
d. An explanation of the average remaining life on a physical basis
and on an economic basis.
e. The following specific background data would be submitted
concurrently with any request for new or changed property account
depreciation rates for oil pipelines:\31\
---------------------------------------------------------------------------
\31\All of the information listed here may not be appropriate
and thus could be omitted from the filing. For example, if the
pipeline carries only crude oil, information requested concerning
petroleum products would not be needed.
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(1) Up-to-date engineering maps of the pipeline including the
location of all gathering facilities, trunkline facilities, terminals,
interconnections with other pipeline systems, and interconnections with
refineries/plants. These maps must indicate the direction of flow.
(2) A brief description of the pipeline's operations and an
estimate of any major near-term additions or retirements including the
estimated costs, location, reason, and probable year of transaction.
(3) The present depreciation rates being used, by account.
(4) For the most current year available and for the two prior
years, a breakdown of the throughput (by type of product, if
applicable) received from each source (e.g., name of well, pipeline
company) at each receipt point and throughput delivered at each
delivery point.
(5) The daily average throughput (in barrels per day) and the
actual average capacity (in barrels per day) for the most current year,
by line section.
(6) A list of shippers and their associated receipt points,
delivery points, and volumes (in barrels) by type of product (where
applicable) for the most current year.
(7) For each primary carrier account, the latest month's book
balances for gross plant and accumulated reserve for depreciation.
(8) An estimate of the remaining life of the system (both gathering
and trunk lines) including the basis for the estimate.
(9) For crude oil, a list of the fields or areas from which crude
oil is obtained and the most recent estimated reserves, actual
production for the previous three years, and five years of estimated
future production.
(10) If the proposed depreciation rate adjustment is based on the
remaining physical life of the properties, the Service Life Data Form
(FERC Form No. 73) through the most current year. This may only require
an updating from the last year for which information was filed with the
Commission.
(11) Estimated salvage value of properties by primary carrier
account.
An oil pipeline company would be required to provide this, and any
other information it deems pertinent, in sufficient detail to fully
explain and justify its proposed rates. Any modifications, additions,
and deletions to these data elements should be made to reflect the
individual circumstances of the pipeline's properties and operations,
and should be accompanied by a full explanation of why the
modifications, additions, or deletions are being made.
V. Environmental Analysis
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.\32\ The Commission
has categorically excluded certain actions from these requirements as
not having a significant effect on the human environment.\33\ The
action proposed here is procedural in nature and therefore falls within
the categorical exclusions provided in the Commission's
regulations.\34\ Therefore, neither an environmental impact statement
nor an environmental assessment is necessary and will not be prepared
in this rulemaking.
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\32\Order No. 486, Regulations Implementing the National
Environmental Policy Act, 52 FR 47897 (Dec. 17, 1987), FERC Statutes
and Regulations, Regulations Preambles 1986-1990 30,783 (1987).
\33\18 CFR 380.4.
\34\See 18 CFR Sec. 380.4(a)(2)(ii).
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VI. Regulatory Flexibility Act Certification
The Regulatory Flexibility Act (RFA)\35\ generally requires the
Commission to describe the impact that a proposed rule would have on
small entities or to certify that the rule will not have a significant
economic impact on a substantial number of small entities. An analysis
is not required if a proposed rule will not have such an impact.\36\
Most oil pipelines to whom the proposed rule would apply do not fall
within the definition of small entity.\37\ In fact, the reporting
thresholds for numerous of the revised schedules in FERC Form No. 6 are
proposed to be raised, which may exclude certain small entities from
completing those schedules. Consequently, pursuant to section 605(b) of
the RFA, the Commission certifies that the proposed regulations, if
promulgated, will not have a significant adverse impact on a
substantial number of small entities.
---------------------------------------------------------------------------
\35\5 U.S.C. Secs. 601-612 (1988)
\36\Section 605(b)
\37\Section 601(c) of the RFA defines a ``small entity'' as a
small business, a small not-for-profit enterprise, or a small
governmental jurisdiction. A ``small business'' is defined by
reference to section 3 of the Small Business Act as an enterprise
which is ``independently owned and operated and which is not
dominant in its field of operation.'' 15 U.S.C. Sec. 632(a).
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VII. Information Collection Requirements
The Office of Management and Budget's (OMB) regulations at 5 C.F.R.
Sec. 1320.13 (footnote) require that OMB approve certain information
and recordkeeping requirements imposed by an agency. The information
collection requirements in this proposed rule are contained in FERC-6
``Annual Report of Oil Pipeline Companies'' (1902-0022) and FERC-550
``Oil Pipeline Rates: Tariff Filings'' (1902-0089).
The Commission uses the data collected in these information
requirements to carry out its regulatory responsibilities pursuant to
the Interstate Commerce Act (ICA), the Act of 1992, and delegations to
the Commission from the Secretary of Energy. The Commission's Office of
Pipeline Regulation uses the data for the analysis of all rates, fares,
or charges demanded, charged, or collected by any common carriers in
connection with the transportation of petroleum and petroleum products
and also as a basis for determining just and reasonable rates that
should be charged by the regulated pipeline company.
The Office of Economic Policy and the Office of General Counsel use
the data in their functions relating to the administration of the ICA
and the Act of 1992. The Commission's Office of Chief Accountant uses
the data collected in Form No. 6 to carry out its compliance audits and
for continuous review of the financial conditions of regulated
companies.
Because of the proposed revisions to both FERC-550 and Form No. 6,
and the expected reduction in public reporting burden of the latter,
the Commission is submitting a copy of the proposed rule to OMB for its
review and approval. Interested persons may obtain information on these
reporting requirements by contracting the Federal Energy Regulatory
Commission, 941 North Capitol Street, NE, Washington, DC 20426
[Attention: Michael Miller, Information Services Division, (202) 208-
1415]. Comments on the requirements of this rule can be sent to the
Office of Information and Regulatory Affairs of OMB (Attention: Desk
Officer for Federal Energy Regulatory Commission), Washington, DC
20503, FAX: (202) 395-5167.
VIII. Comment Procedures
Copies of this notice of proposed rulemaking can be obtained from
the Office of Public Information, Room 3104, 941 North Capitol Street,
NE., Washington, DC 20426. Any person desiring to file comments should
submit an original and fourteen (14) copies of such comments to the
Federal Energy Regulatory Commission, 825 North Capitol Street, NE.,
Washington, DC 20426 not later than 30 days after the date of
publication of this notice of proposed rulemaking in the Federal
Register.
The full text of this notice of proposed rulemaking, excluding the
revised Form No. 6 schedules, also is available through the Commission
Issuance Posting System (CIPS), an electronic bulletin board service,
which provides access to the text of formal documents issued by the
Commission. CIPS is available at no charge to the user and may be
accessed using a personal computer with a modem by dialing (202) 208-
1397. To access CIPS, communications software should be set to use 300,
1200, or 2400 bps, full duplex, no parity, 8 data bits, and 1 stop bit.
CIPS can also be accessed at 9600 bps by dialing (202) 208-1781. The
full text of this notice will be available on CIPS for 30 days from the
date of issuance. Paper copies of the Appendix may be obtained from the
Office of Public Information. The complete text, excluding the revised
Form No. 6 schedules, on diskette in WordPerfect format may also be
purchased from the Commission's copy contractor, La Dorn Systems
Corporation, also located in Room 3104, 941 North Capitol Street, NE.,
Washington, DC 20426.
List of Subjects in 18 CFR Parts 342, 346, 347, and 357
Pipelines, Reporting and recordkeeping requirements.
List of Subjects in 18 CFR Part 385
Reporting and recordkeeping requirements.
In consideration of the foregoing, the Commission gives notice of
its proposal to amend Parts 342, 357, and 385, and to add parts 346 and
347, chapter I, title 18, Code of Federal Regulations, as set forth
below.
By direction of the Commission.
Lois D. Cashell,
Secretary.
PART 342--OIL PIPELINE RATE METHODOLOGIES AND PROCEDURES
1. The authority citation for Part 342 continues to read as
follows:
Authority: 5 U.S.C. 571-83; 42 U.S.C. 7101-7532; 49 App. U.S.C.
1-85; 42 U.S.C. 7172 note.
2. Sections 342.2(a), 342.3(b) and 342.4(a) are proposed to be
revised as follows:
Sec. 342.2 Establishing initial rates.
* * * * *
(a) Filing cost, revenue, and throughput data supporting such rate
as required by part 346; or
* * * * *
Sec. 342.3 Indexing.
* * * * *
(b) Information required to be filed with rate changes. The carrier
must comply with part 341 of this chapter.
(1) Carriers must specify in their letters of transmittal required
in Sec. 341.2(c) of this chapter the rate schedule to be changed, the
proposed new rate, the prior rate, and the applicable ceiling level for
the movement. No other rate information is required to accompany the
proposed rate change.
(2) Carriers must file a verified copy of a schedule for calendar
years 1993 and 1994 containing the information required by page 700 of
the 1995 edition of FERC Form No. 6 concurrently with the first indexed
rate change filing made by a carrier on or after January 1, 1995, or by
March 31, 1995, whichever occurs first. If actual data are not
available for calendar year 1994 when the rate change filing is made,
the information for calendar year 1994 must be comprised of the most
recently available actual data annualized for the year 1994. A schedule
containing the information comprised of actual data for calendar year
1994 must be filed not later than March 31, 1995.
* * * * *
Sec. 342.4 Other rate changing methodologies.
(a) Cost-of-service rates. A carrier may change a rate pursuant to
this section if it shows that there is a substantial divergence between
the actual costs experienced by the carrier and the rate resulting from
application of the index such that the rate at the ceiling level would
preclude the carrier from being able to charge a just and reasonable
rate within the meaning of the Interstate Commerce Act. A carrier must
substantiate the cost incurred by filing the data required by part 346.
A carrier that makes such a showing may change the rate in question,
based upon the cost of providing the service covered by the rate,
without regard to the applicable ceiling level under Sec. 342.3.
* * * * *
3. In subchapter P, chapter I, title 18, Code of Federal
Regulations, part 346 is proposed to be added to read as follows:
PART 346--OIL PIPELINE COST-OF-SERVICE FILING REQUIREMENTS
Sec.
346.1 Content of Filing for Cost-of-Service Rates.
346.2 Material in support of initial rates or change in rates.
Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27.
Sec. 346.1 Content of filing for cost-of-service rates.
(a) If a carrier seeks to establish rates pursuant to
Sec. 342.2(a), of this chapter, or if a carrier seeks to change rates
pursuant to Sec. 342.4(a), of this chapter, it must file and provide
supporting justification as set forth in this part.
(b) The carrier must file a letter of transmittal which conforms to
Secs. 341.2(c) and 342.4(a) of this chapter; the proposed tariff; and
the statements and supporting workpapers required in Sec. 346.2.
Sec. 346.2 Material in support of initial rates or change in rates.
A carrier which files for rates in accordance with Sec. 342.2(a) or
Sec. 342.4(a) of this Chapter must file the following statements,
schedules, and all supporting workpapers. The statements, schedules,
and workpapers must be based upon an appropriate test period.
(a) Base and test periods defined.
(1) For a carrier which has been in operation for at least twelve
months:
(i) A base period must consist of 12 consecutive months of actual
experience. The 12 months of experience must be adjusted to eliminate
nonrecurring items (except minor accounts). The filing carrier may
include appropriate normalizing adjustments in lieu of nonrecurring
items.
(ii) A test period must consist of a base period adjusted for
changes in revenues and costs which are known and are measurable with
reasonable accuracy at the time of filing and which will become
effective within nine months after the last month of available actual
experience utilized in the filing. For good cause shown, the Commission
may allow reasonable deviation from the prescribed test period.
(2) For a carrier which has less than 12 months' experience, the
test period may consist of 12 consecutive months ending not more than
one year from the filing date. For good cause shown, the Commission may
allow reasonable deviation from the prescribed test period.
(3) For a carrier which is establishing rates for new service, the
test period will be based on a 12-month projection of costs and
revenues.
(b) Cost-of-service summary schedule. This schedule must contain
the following information:
(1) Total carrier cost of service for the test period.
(2) Throughput for the test period in both barrels and barrels-
miles.
(3) For filings in accordance with Sec. 342.4(a) of this chapter,
the schedule must include the proposed rates and the rates which would
be permitted under Sec. 342.3 of this chapter, and the revenues to be
realized from both sets of rates.
(c) Content of statements. Any cost-of-service rate filing must
include supporting statements containing the following information for
the test period.
(1) Statement A--total cost of service. This statement must
summarize the total cost of service for a carrier (operating and
maintenance expense, depreciation and amortization, return, and taxes)
developed from the supporting statements described below.
(2) Statement B--operation and maintenance expense. This statement
must set forth the operation, maintenance, administration and general,
and depreciation expenses for the test period. Items used in the
computations or derived on this statement must include operations,
including salaries and wages, supplies and expenses, outside services,
operating fuel and power, and oil losses and shortages; maintenance,
including salaries and wages, supplies and expenses, outside services,
and maintenance and materials; administrative and general, including
salaries and wages, supplies and expenses, outside services, rentals,
pensions and benefits, insurance, casualty and other losses, and
pipeline taxes; and depreciation and amortization.
(3) Statement C--overall return on rate base. This statement must
set forth the rate base for return purposes from Statement E and must
also state the claimed rate of return and the application of the
claimed rate of return to the overall rate base. The claimed rate of
return must consist of a weighted cost of capital, combining the rate
of return on debt capital and the real rate of return on equity
capital. Items used in the computations or derived on this statement
must include deferred earnings, equity ratio, debt ratio, weighted cost
of capital, and costs of debt and equity.
(4) Statement D--income taxes. This statement must set forth the
income tax computation. Items used in the computations or derived on
this statement must show: return allowance, interest expense, return on
equity rate base, accrued annual amortization or deferred earnings,
depreciation on equity AFUDC, under/over-funded ADIT amortization
amount, taxable income, tax factor, and income tax allowance.
(5) Statement E--rate base. This statement must set forth the
return rate base. Items used in the computations or derived on this
statement must include beginning balances of the rate base at December
31, 1983, working capital (including materials and supplies,
prepayments, and oil inventory), accrued depreciation on carrier plant,
accrued depreciation on rights of way, and accumulated deferred income
taxes; and adjustments and end balances for original cost of
retirements, interest during construction, AFUDC adjustments, original
cost of net additions and retirements from land, original cost of net
additions and retirements from rights of way, original cost of plant
additions, original cost accruals for depreciation, AFUDC accrued
depreciation adjustment, original cost depreciation accruals added to
rights of way, net charge for retirements from accrued depreciation,
accumulated deferred income taxes, changes in working capital
(including materials and supplies, prepayments, and oil inventory),
accrued deferred earnings, annual amortization of accrued deferred
earnings, and amortization of starting rate base write-up.
(6) Statement F--allowance for funds used during construction. This
statement must set forth the computation of allowances for funds used
during construction (AFUDC) including the AFUDC for each year
commencing in 1984 and a summary of AFUDC and AFUDC depreciation for
the years 1984 through the test year.
(7) Statement G--revenues. This statement must set forth the gross
revenues for the actual 12 months of experience as computed under both
the presently effective rates and the proposed rates. If the presently
effective rates are not at the maximum ceiling rate established under
Sec. 342.4(a) of this chapter, then gross revenues must also be
computed and set forth as if the ceiling rates were effective for the
12 month period.
4. In subchapter P, chapter I, title 18, Code of Federal
Regulations, Part 347 is proposed to be added to read as follows:
PART 347--OIL PIPELINE DEPRECIATION STUDIES
Sec.
347.1 Material to support request for newly established or changed
property account depreciation studies.
Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27.
Sec. 347.1 Material to support request for newly established or
changed property account depreciation studies.
(a) Means of filing. Filing of a request for new or changed
property account depreciation rates must be made with the Secretary of
the Commission. Filings made by mail must be addressed to the Federal
Energy Regulatory Commission with the envelope clearly marked as
containing ``Oil Pipeline Depreciation Rates.''
(b) Number of copies. Carriers must file three paper copies of each
request with attendant information identified below.
(c) Transmittal letter. Letters of transmittal must give a general
description of the change in depreciation rates being proposed in the
filing. Letters of transmittal must also certify that the letter of
transmittal (not including the information to be provided, as
identified below) has been sent to each shipper and to each subscriber.
If there are no subscribers, letters of transmittal must so state.
Carriers requesting acknowledgement of the receipt of a filing by mail
must submit a duplicate copy of the letter of transmittal marked
``Receipt requested.'' The request must include a postage paid, self-
addressed return envelope.
(d) Effectiveness of property account depreciation rates.
(1) The proposed depreciation rates being established in the first
instance must be used until they are either accepted or modified by the
Commission. Rates in effect at the time of the proposed revision must
continue to be used until the proposed revised rates are approved or
modified by the Commission.
(2) When filing for approval of either new or changed property
account depreciation rates, a carrier must provide information in
sufficient detail to fully explain and justify its proposed rates.
(e) Information to be provided. The items delineated below are the
data to be provided as justification for depreciation changes.
Modifications, additions, and deletions to these data elements should
be made to reflect the individual circumstances of the carrier's
properties and operations.
(1) A brief summary relating the general principles on which the
proposed depreciation rates are based (e.g., why the economic life of
the pipeline section is less then the physical life).
(2) An explanation of the organization, ownership, and operation of
the pipeline.
(3) A table of the proposed depreciation rates by account.
(4) An explanation of the average remaining life on a physical
basis and on an economic basis.
(5) The following specific background data must be submitted at the
time of and concurrently with any request for the establishment of, or
modification to, depreciation rates for carriers. If the information
listed is not applicable, it may be omitted from the filing:
(i) Up-to-date engineering maps of the pipeline including the
location of all gathering facilities, trunkline facilities, terminals,
interconnections with the other pipeline systems, and interconnections
with refineries/plants. Maps must indicate the direction of flow.
(ii) A brief description of the carrier's operations and an
estimate of any major near-term additions or retirements including the
estimated costs, location, reason, and probable year of transaction.
(iii) The present depreciation rates being used by account.
(iv) For the most current year available and for the two prior
years, a breakdown of the throughput (by type of product, if
applicable) received with source (e.g. name of well, pipeline company)
at each receipt point and throughput delivered at each delivery point.
(v) The daily average capacity (in barrels per day) and the actual
average capacity (in barrels per day) for the most current year, by
line section.
(vi) A list of shippers and their associated receipt points,
delivery points, and volumes (in barrels) by type of product (where
applicable) for the most current year.
(vii) For each primary carrier account, the latest month's book
balances for gross plant and for accumulated reserve for depreciation.
(viii) An estimate of the remaining life of the system (both
gathering and trunk lines) including the basis for the estimate.
(ix) For crude oil, a list of the fields or areas from which crude
oil is obtained and the most recent estimated reserves, actual
production for the previous three years, and five years of estimated
future production.
(x) If the proposed depreciation rate adjustment is based on the
remaining physical life of the properties, a complete, or updated, if
applicable, Service Life Date Form (FERC Form No. 73) through the most
current year.
(xi) Estimated salvage value of properties by account.
PART 357--ANNUAL SPECIAL OR PERIODIC REPORTS: CARRIERS SUBJECT TO
PART I OF THE INTERSTATE COMMERCE ACT
5. The authority citation for Part 357 is proposed to be revised to
read as follows:
Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27 (1976).
6. Section 357.2 is revised to read as follows:
Sec. 357.2 FERC Form No. 6, Annual Report of Oil Pipeline Companies.
Every carrier pipeline subject to the provisions of section 20 of
the Interstate Commerce Act must file with the Commission FERC Form No.
6, ``Annual Report of Oil Pipeline Companies,'' in the manner
prescribed in Sec. 385.2011 of this chapter and as indicated in the
general instructions set out in this report form. This report must be
filed on or before March 31st of each year for the previous calendar
year, and must be properly completed and verified.
PART 385--RULES OF PRACTICE AND PROCEDURE
7. The authority citation for Part 385 continues to read as
follows:
Authority: 5 U.S.C. 551-557; 15 U.S.C. 717-717w, 3301-3432; 16
U.S.C. 792-825r, 2601-2605; 31 U.S.C. 9701; 42 U.S.C. 7101-7352; 49
U.S.C. 1-27.
8. Section 385.2011, paragraph (a), is proposed to be amended by
redesignating paragraphs (a)(3) through (a)(5) as paragraphs (a)(4)
through (a)(6), and adding a new paragraph (a)(3) as follows:
Sec. 385.2011 Procedures for filing on electronic media.
(a) * * *
(3) FERC Form No. 6, Annual Report of Oil Pipeline Companies.
* * * * *
Appendix to the Proposed Rule
Note: This appendix is not being published in full in the
Federal Register, but is available from the Commission's Public
Reference Room.
Appendix A--Revised Sheets for Form No. 6: Annual Report of Oil
Pipeline Companies
This Appendix A contains the pages from Form No. 6 which are
proposed to be revised in the Commission's Notice Of Proposed
Rulemaking, Docket No. RM94-2-000.
[FR Doc. 94-18871 Filed 8-8-94; 8:45 am]
BILLING CODE 6717-01-M
