83 FR 37450 - Interlocking Officers and Directors; Requirements for Applicants and Holders
DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission Federal Register Volume 83, Issue 148 (August 1, 2018)
Federal Energy Regulatory Commission
Federal Register Volume 83, Issue 148 (August 1, 2018)
| Page Range | 37450-37455 | |
| FR Document | 2018-16463 |
[Federal Register Volume 83, Number 148 (Wednesday, August 1, 2018)] [Proposed Rules] [Pages 37450-37455] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-16463] ======================================================================== Proposed Rules Federal Register ________________________________________________________________________ This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. ======================================================================== Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Proposed Rules [[Page 37450]] DEPARTMENT OF ENERGY Federal Energy Regulatory Commission 18 CFR Parts 45 and 46 [Docket No. RM18-15-000] Interlocking Officers and Directors; Requirements for Applicants and Holders AGENCY: Federal Energy Regulatory Commission, DOE. ACTION: Notice of proposed rulemaking. ----------------------------------------------------------------------- SUMMARY: The Commission proposes to revise its regulations related to interlocking officers and directors to clarify and update the requirements for both applicants and holders. In particular, the Commission proposes to update its regulations to reflect statutory changes to the circumstances in which an applicant who would otherwise require Commission authorization to hold an interlocking position need not do so. The Commission also proposes to revise its regulations to clarify its position on late-filed applications and informational reports. The Commission further proposes to revise its regulations to clarify that an interlock holder is not required to file a notice of change when merely changing positions within a holding company. Additionally, the Commission proposes to revise its regulations to state that applicants do not need to list in their applications public utilities that do not have officers or directors. Next, the Commission proposes to revise its regulations with regard to public utilities owned by a natural person. Finally, the Commission proposes to update its regulations to remove a section containing definitions and phrases now rendered obsolete. DATES: Comments are due October 1, 2018. ADDRESSES: Comments, identified by docket number, may be filed in the following ways:Electronic Filing through http://www.ferc.gov. Documents created electronically using word processing software should be filed in native applications or print-to-PDF format and not in a scanned format. Mail/Hand Delivery: Those unable to file electronically may mail or hand-deliver comments to: Federal Energy Regulatory Commission, Secretary of the Commission, 888 First Street NE, Washington, DC 20426. Instructions: For detailed instructions on submitting comments and additional information on the rulemaking process, see the Comment Procedures Section of this document. FOR FURTHER INFORMATION CONTACT: Amery Por[eacute] (Technical Information), Office of Energy Market Regulation, Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426, (202) 502-6312 Mary Ellen Stefanou (Legal Information), Office of the General Counsel, Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426, (202) 502-8989 SUPPLEMENTARY INFORMATION: 1. Section 305(b) of the Federal Power Act (FPA) \1\ prohibits individuals from concurrently holding positions as an officer or director of more than one public utility; or concurrently holding the positions of officer or director of a public utility and of an entity authorized by law to underwrite or participate in the marketing of public utility securities; \2\ or concurrently holding the positions of officer or director of a public utility and a company supplying electrical equipment to such public utility, unless the holding of such positions has been authorized by the Commission upon a showing that neither public nor private interests will be adversely affected.\3\ Congress enacted section 305(b) to prevent certain perceived abuses with holding companies, including (1) excessive charges to subsidiary public utility companies resulting from the lack of arm's length bargaining or the restraint of free and independent competition; (2) allocation of charges for goods and services among subsidiary companies in different States so as to frustrate State regulation; (3) control of subsidiary public utility companies through disproportionately small investment resulting in account practices, and rate, dividend and other policies that complicated and obstructed State regulation; and (4) a general lack of economy of management and operation of public utilities, a lack of efficiency and adequacy of services or a lack of effective public regulation and a lack of economies in raising capital.\4\ --------------------------------------------------------------------------- \1\ 16 U.S.C. 825d(b) (2012). \2\ However, section 305(b)(2) of the FPA, 16 U.S.C. 825d(b)(2), exempts from this prohibition certain interlocks between public utilities and a financial institution that is authorized to underwrite or participate in the marketing of public utility securities. \3\ 16 U.S.C. 825d(b). \4\ Title I, Sec. 1, of the Public Utility Act of 1935 (49 Stat. 803, 15 U.S.C. 79a). Title I was the Public Utility Holding Company Act of 1935. Title II became Parts II and III of the Federal Power Act, which include section 305(b). --------------------------------------------------------------------------- 2. The Commission implemented Congress' mandate in part 45 of the Commission's regulations.\5\ Consistent with the statute, part 45 provides that an application or informational filing be filed, and authorization granted, before a person may hold otherwise proscribed interlocking positions. Part 46 of the Commission's regulations, which implements section 305(c) of the FPA,\6\ describes the annual filing requirements for those holding interlocking positions, including the relevant definitions. --------------------------------------------------------------------------- \5\ 18 CFR part 45 (2017). \6\ 16 U.S.C. 825d(c). --------------------------------------------------------------------------- 3. As described below, we propose revisions to parts 45 and 46 of our regulations.\7\ --------------------------------------------------------------------------- \7\ 18 CFR part 46. Section 305(c) of the FPA, as relevant here, requires that any person holding interlocking positions in both a public utility and any of the entities listed in section 305(c)(2) of the FPA file an annual report listing such interlocking positions. 16 U.S.C. 825d(c). The Commission implements section 305(c) in part 46 of its regulations and through its FERC Form No. 561. --------------------------------------------------------------------------- I. Discussion 4. On October 27, 2016, Commission staff issued its 2016 Biennial Staff Memo Concerning Retrospective Analysis of Existing Rules,\8\ in which it identified certain Commission regulations as ripe for evaluation, including 18 CFR part 45. The Edison Electric Institute (EEI) submitted comments in support of the Commission's suggested revisions to 18 [[Page 37451]] CFR part 45 and proposed additional revisions.\9\ --------------------------------------------------------------------------- \8\ 2016 Biennial Staff Memo Concerning Retrospective Analysis of Existing Rules, Docket No. AD12-6-002 (published Oct. 27, 2016) (81 FR 76542, Nov. 3, 2016). \9\ See Edison Electric Institute Comments, Docket No. AD12-6- 002 (Nov. 28, 2016). --------------------------------------------------------------------------- 5. Based on our review of our regulations, as well as our review of the comments submitted by EEI, we propose the following changes to the regulations in part 45, as well as certain revisions to part 46. 6. Section 45.2 of the Commission's regulations describes the types of interlocking positions that require Commission authorization, including those between a public utility and entities authorized by law to underwrite or participate in the marketing of public utility securities.\10\ However, in 1999, Congress amended section 305(b)(2) of the FPA to provide that an applicant for certain interlocking positions is no longer required to obtain Commission authorization to hold such positions.\11\ As a result, the Commission proposes to revise Sec. 45.2 of its regulations to add that an applicant for an interlocking position between a public utility and a ``bank, trust company, banking association, or firm that is authorized by law to underwrite or participate in the marketing of public utility securities,'' \12\ does not need Commission authorization when: --------------------------------------------------------------------------- \10\ 18 CFR 45.2(b)(2). \11\ See Public Law 106-102, sec. 737, 113 Stat. 1338, 1479 (1999). \12\ 18 CFR 45.2(b)(2). --------------------------------------------------------------------------- (1) He/she does not participate in any deliberations or decisions of the public utility regarding the selection of the bank, trust company, banking association, or firm to underwrite or participate in the marketing of securities of the public utility, if he/she serves as an officer or director of a bank, trust company, banking association, or firm that is under consideration in the deliberation process; (2) the bank, trust company, banking association, or firm of which he/she is an officer or director does not engage in the underwriting of, or participate in the marketing of, securities of the public utility of which he/she holds the position of officer or director; (3) the public utility for which he/she serves or proposes to serve as an officer or director selects underwriters by competitive procedures; or (4) the issuance of securities of the public utility for which he/ she serves or proposes to serve as an officer or director has been approved by all Federal and State regulatory agencies having jurisdiction over the issuance.\13\ --------------------------------------------------------------------------- \13\ See also 16 U.S.C. 825d(b)(2). --------------------------------------------------------------------------- 7. Sections 45.3 and 45.9 of the Commission's regulations require applications and informational filings be filed with the Commission before an applicant holds any interlocking positions within the purview of section 305. The Commission's regulations currently provide in Sec. 45.3(a) that ``late-filed applications will be denied'' and in Sec. 45.9(b) that ``[f]ailure to timely file the informational report will constitute a failure to satisfy this condition and will constitute automatic denial.'' 8. The Commission expects its regulations to be followed. However, the Commission recognizes that good faith errors and oversights may occasionally result in the inadvertent violation of the timing of section 305(b)'s filing requirements. The Commission believes that it is not in the public interest to deny otherwise-qualified applicants' late-filed applications and informational filings made under these regulations when the late filing is due solely to such good faith errors and oversights alone. Late-filed applications do not impede the Commission's ability to decide the case. The statutory standard for authorization to hold otherwise-proscribed interlocks requires the Commission to determine whether the holding of otherwise-proscribed interlocks adversely affects neither public nor private interests, and that determination typically would not depend solely on the date an applicant happens to file.\14\ Nor would applications that are filed late solely due to good faith errors and oversights implicate the abuses that Congress attempted to prevent in promulgating section 305. Further, denying late-filed applications could cause unnecessary inefficiencies for companies. Therefore, the Commission proposes to delete the above-quoted language, and to replace it with language providing for consideration of late-filed applications for interlocking positions on a case-by-case basis.\15\ --------------------------------------------------------------------------- \14\ 16 U.S.C. 825d(b)(1). \15\ The public utilities whose officers and directors are subject to the statutory directive in section 305(b) to file, as regulated entities themselves subject to and thus sensitive to the requirements of the FPA, would be well-advised to and should make every effort to ensure that their officers and directors, in turn, act in accordance with the statutory directives in section 305(b). --------------------------------------------------------------------------- 9. The Commission expects that applicants will be attentive to their obligation to timely file for the required authorizations and make every effort to ensure they act in accordance with the statutory directives in section 305(b). In cases where occasional errors and oversights occur, the Commission expects that those errors and oversights will be expeditiously identified and rectified, and applications to hold interlocking director positions promptly filed. The Commission would look unfavorably on section 305(b) applications where an applicant has not been attentive to his/her obligation to file for the required authorization. 10. The Commission proposes to revise Sec. Sec. 45.4 and 45.5 of its regulations to clarify that supplemental applications and notices of change need not be filed in the case of a person already authorized to hold interlocks identified in Sec. 45.9(a) who may assume new or different positions that are still among those identified by Sec. 45.9(a).\16\ For example, a promotion within a holding company system would not require an interlock holder to file a notice of change. Such changes in positions among related public utilities are already reported in the annual Form No. 561s, and separate filings under Sec. 45.4 or Sec. 45.5 are unnecessary. However, the Commission clarifies that, for such interlocking positions, a holder would still be required to file a notice of change when he/she no longer holds any interlocking positions within the scope of the statute and regulations. No longer holding any interlocking positions would constitute a ``material or substantial change.'' --------------------------------------------------------------------------- \16\ If an applicant has a pending application, however, we would expect that the applicant would supplement his/her application should a change occur while the application is pending. In contrast, as noted above, an applicant who has been granted authorization and no longer has a pending application is differently situated, and any change in the positions held can be addressed in the next Form No. 561. --------------------------------------------------------------------------- 11. The Commission proposes to revise Sec. 45.8(c)(1) of its regulations to state that applicants under part 45 do not need to list in their applications those public utilities that do not have officers or directors. The Commission recognizes the growing complexity of corporate structures. Thus, in the interest of reducing regulatory burdens, the Commission proposes to eliminate the requirement that applications under part 45 list those public utilities that do not have officers or directors. 12. The Commission proposes to revise Sec. 45.9 of its regulations to add the word ``person'' when defining the corporate relationships within the scope of the automatic authorizations addressed in Sec. 45.9. The Commission would thus recognize that public utilities can be owned not just by a corporate entity but by a natural person, and the regulations should reflect this possibility. 13. Finally, the Commission proposes to update its regulations in part 46 to remove Sec. 46.2(b), because the definitions were rendered obsolete as a result of the enactment of the Energy [[Page 37452]] Policy Act of 2005 and the concurrent repeal of the Public Utility Holding Company Act of 1935.\17\ The Commission notes that Sec. 46.2(b) currently references the definition of ``holding company system'' and ``registered holding company system'' in the Public Utility Holding Company Act (PUHCA) of 1935.\18\ However, the Commission recognizes that the Energy Policy Act of 2005 repealed the PUHCA of 1935.\19\ Thus, the Commission proposes to remove Sec. 46.2(b). The Commission also proposes to update part 46 to change ``Rural Electrification Administration'' to ``Rural Utilities Service'' to reflect the name change of that organization. --------------------------------------------------------------------------- \17\ See Energy Policy Act of 2005, Public Law 109-58, 1261-77, 119 Stat. 594, 972-78 (2005). \18\ 16 U.S.C. 79a et seq. \19\ EPAct 2005, Public Law 109-58, 1263. --------------------------------------------------------------------------- II. Information Collection Statement 14. The Paperwork Reduction Act (PRA) \20\ requires each federal agency to seek and obtain Office of Management and Budget (OMB) approval before undertaking a collection of information directed to 10 or more persons or contained in a rule of general applicability. OMB's regulations \21\ require approval of certain information collection requirements imposed by agency rules. Upon approval of a collection of information, OMB will assign an OMB control number and an expiration date. Respondents subject to the filing requirements of an agency rule will not be penalized for failing to respond to these collections of information unless the collections of information display a valid OMB control number. --------------------------------------------------------------------------- \20\ 44 U.S.C. 3507(d). \21\ 5 CFR part 1320. --------------------------------------------------------------------------- 15. The revisions proposed in this NOPR would clarify and update the requirements \22\ for those seeking and holding interlocking positions. The Commission anticipates that the revisions, once effective, would reduce regulatory burdens. The Commission will submit the proposed reporting requirements to OMB for its review and approval under section 3507(d) of the Paperwork Reduction Act.\23\ --------------------------------------------------------------------------- \22\ 18 CFR parts 45 and 46. \23\ 44 U.S.C. 3507(d). --------------------------------------------------------------------------- 16. While the Commission expects that the regulatory revisions proposed herein will reduce the burdens on affected entities, the Commission nonetheless solicits public comments regarding the accuracy of the burden and cost estimates below. 17. Burden Estimate: \24\ The estimated burden and cost for the requirements contained in this NOPR follow. --------------------------------------------------------------------------- \24\ ``Burden'' is the total time, effort, or financial resources expended by persons to generate, maintain, retain, or disclose or provide information to or for a Federal agency. For further explanation of what is included in the information collection burden, refer to 5 CFR 1320.3 FERC Form No. 520 [Application for authority to hold interlocking directorate positions] -------------------------------------------------------------------------------------------------------------------------------------------------------- Annual number Number of of responses Total number Average burden & cost per Total annual burden hours Cost per respondents per respondent of responses response \25\ (total annual cost) respondent ($) (1) (2) (1) * (2) = (4)........................ (3) * (4) = (5)............ (5) / (1) (3) -------------------------------------------------------------------------------------------------------------------------------------------------------- Full.......................... 16 1 16 50 hrs.; $3,950............ 800 hrs.; $63,200.......... $3,950 Informational................. 500 1 500 8 hrs.; $632............... 4,000 hrs.; $316,000....... 632 Notice of Change.............. 100 1 100 0.25 hrs.; $19.75.......... 25 hrs.; $1,975............ 19.75 ------------------------------------------------------------------------------------------------------------------------- Total..................... .............. .............. .............. ........................... 4,825 hrs.; $381,175....... .............. -------------------------------------------------------------------------------------------------------------------------------------------------------- Title: FERC-520 (Application for Authority to Hold Interlocking Directorate Positions). --------------------------------------------------------------------------- \25\ The Commission staff thinks that the average respondent for this collection is similarly situated to the Commission, in terms of salary plus benefits. Based upon FERC's 2018 annual average (for salary plus benefits) of $164,820, the average hourly cost is $79/ hour. --------------------------------------------------------------------------- OMB Control No.: 1902-0083. Abstract: The FPA, as amended, mandates federal oversight and approval of certain electric corporate activities to ensure that neither public nor private interests are adversely affected. Accordingly, the Commission's regulations prescribe related information filing requirements to achieve this goal. Such filing requirements are found in 18 CFR parts 45 and 46. Overview of the Data Collection. FERC-520 provides information related to complex electric corporate activities, in particular, the holding of interlocking positions, and thereby serves to safeguard public and private interests, as the FPA requires. FERC-520 is divided into two types of applications: Full and informational. The full application, as specified in 18 CFR 45.8, implements the FPA requirement under section 305(b) that it is unlawful for any person to concurrently hold the positions of officer or director of more than one public utility; or a public utility and a financial institution that is authorized to underwrite or participate in the marketing of public utility securities; or a public utility and an electrical equipment supplier to such public utility, unless authorized by the Commission. In order to obtain authorization, an applicant must demonstrate that neither public nor private interests will be adversely affected by the holding of the positions. The full application provides the Commission with information about any interlocking position for which the applicant seeks authorization including, but not limited to, a description of duties and the estimated time devoted to the position. An informational (abbreviated) application, as specified in 18 CFR 45.9, allows an applicant to receive automatic authorization for an interlocked position upon receipt of the filing by the Commission. The informational application applies only to those individuals who seek authorization as: (1) An officer or director of two or more public utilities where the same holding company owns, directly or indirectly, that percentage of each utility's stock (of whatever class or classes) which is required by each utility's by-laws to elect directors; (2) an officer or director of two public utilities, if one utility is owned, wholly or in part, by the other [[Page 37453]] and, as its primary business, owns or operates transmission or generation facilities to provide transmission service or electric power for sale to its owners; or (3) an officer or director of more than one public utility, if such person is already authorized under part 45 to hold different positions as officer or director of those utilities where the interlock involves affiliated public utilities. FERC-520 also includes the requirement to file a notice of change if there are new positions or changes to the positions held. The Commission is proposing to revise its requirements and no longer require a notice of change when a person is merely changing positions within a holding company system. This proposal is expected to reduce the number of filed notices of change by 50 percent annually (from 200 filings to 100 filings) and to reduce the corresponding total burden. Type of Respondents: Individuals who plan to concurrently become or concurrently are officers or directors of public utilities and of certain other entities must request authorization to hold such interlocking positions by submitting a FERC-520. Internal Review: The Commission has reviewed the information collection requirements and has determined that certain changes are needed and that the remaining requirements are necessary. These requirements conform to the Commission's need for efficient information collection, communication, and management within the energy industry. The Commission has specific, objective support for the burden estimates associated with the information collection requirements. Interested persons may obtain information on the reporting requirements by contacting the following: Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426 [Attention: Ellen Brown, Office of the Executive Director], email: [email protected], Phone: (202) 502-8663, fax: (202) 273-0873. Comments concerning the collection of information and the associated burden estimate(s) may also be sent to the Office of Information and Regulatory Affairs, Office of Management and Budget, 725 17th Street NW, Washington, DC 20503 [Attention: Desk Officer for the Federal Energy Regulatory Commission]. Due to security concerns, comments should be sent electronically to the following email address: [email protected]. Please refer to FERC-520, OMB Control No. 1902-0083 in your submission. III. Environmental Analysis 18. 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.\26\ We conclude that neither an Environmental Assessment nor an Environmental Impact Statement is required for this NOPR under 380.4(a) of the Commission's regulations, which provides a categorical exemption for approval of ``action under section [ ] . . . 305 of the FPA relating to . . . interlocking directorates, . . . .'' \27\ --------------------------------------------------------------------------- \26\ Regulations Implementing the National Environmental Policy Act, Order No. 486, FERC Stats. & Regs. ] 30,783 (1987). \27\ 18 CFR 380.4(a)(16). --------------------------------------------------------------------------- IV. Regulatory Flexibility Act 19. The Regulatory Flexibility Act of 1980 (RFA) \28\ generally requires a description and analysis of proposed rules that will have significant economic impact on a substantial number of small entities. The Small Business Administration's (SBA) Office of Size Standards develops the numerical definition of a small entity.\29\ These standards are provided in the SBA regulations at 13 CFR 121.201.\30\ --------------------------------------------------------------------------- \28\ 5 U.S.C. 601-12. \29\ 13 CFR 121.101. \30\ 13 CFR 121.201. See also U.S. Small Business Administration, Table of Small Business Size Standards Matched to North American Industry Classification System Codes (effective Feb. 26, 2016), https://www.sba.gov/sites/default/files/files/Size_Standards_Table.pdf. --------------------------------------------------------------------------- 20. This proposed rule, if adopted, would apply to those individuals seeking to hold and those currently holding interlocking positions. In order to obtain authorization, an applicant must demonstrate that neither public nor private interests will be adversely affected by the holding of the interlocking positions. 21. There are an estimated 16 respondents who could file full applications over the course of a year, who would provide one response annually with an estimated time commitment of 50 hours per response, and a resulting estimated cost of $3,950.00 per respondent. There are an estimated 500 respondents who could file informational applications over the course of a year, who would provide one response annually with an estimated time commitment of 8 hours per response, and a resulting estimated cost of $632.00 per respondent. In addition, there are an estimated 100 respondents who could file a notice of change annually with an estimated time commitment of 0.25 hours, and a resulting cost of $19.75 per respondent. Therefore the average annual cost for each of the 616 respondents is $618.79. That cost is not significant. More importantly, this proposed rule reduces industry cost by eliminating the need for the filing of some notices of change. 22. The Commission certifies that this proposed rule, if adopted, will not have a significant economic impact on a substantial number of small entities. V. Comment Procedures 23. The Commission invites interested persons to submit comments on the matters and issues proposed in this notice of proposed rulemaking to be adopted, including any related matters or alternative proposals that commenters may wish to discuss. Comments are due October 1, 2018. Comments must refer to Docket No. RM18-15-000, and must include the commenter's name, the organization they represent, if applicable, and their address in their comments. 24. The Commission encourages comments to be filed electronically via the eFiling link on the Commission's website at http://www.ferc.gov. The Commission accepts most standard word processing formats. Documents created electronically using word processing software should be filed in native applications or print-to-PDF format and not in a scanned format. Commenters filing electronically do not need to make a paper filing. 25. Commenters that are not able to file comments electronically must send an original of their comments to: Federal Energy Regulatory Commission, Secretary of the Commission, 888 First Street NE, Washington, DC 20426. 26. 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. VI. Document Availability 27. 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 (http://www.ferc.gov) and in the Commission's Public Reference Room during normal business hours (8:30 a.m. to 5:00 p.m. Eastern time) at 888 First Street NE, Room 2A, Washington, DC 20426. 28. 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 [[Page 37454]] 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. 29. User assistance is available for eLibrary and the Commission's website during normal business hours from the Commission's Online Support at 202-502-6652 (toll free at 1-866-208-3676) or email at [email protected], or the Public Reference Room at (202) 502- 8371, TTY (202)502-8659. Email the Public Reference Room at [email protected]. List of Subjects 18 CFR Part 45 Electric utilities, Reporting and recordkeeping requirements. 18 CFR Part 46 Antitrust, Electric utilities, Holding companies, Reporting and recordkeeping requirements. By direction of the Commission. Issued: July 19, 2018. Kimberly D. Bose, Secretary. In consideration of the foregoing, the Commission proposes to amend parts 45 and 46, chapter I, title 18, Code of Federal Regulations, as follows. PART 45--APPLICATION FOR AUTHORITY TO HOLD INTERLOCKING POSITIONS 0 1. The authority citation for part 45 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; 3 CFR 142. 0 2. Add Sec. 45.2(d) to read as follows: Sec. 45.2 Positions requiring authorization. * * * * * (d) A person that holds or proposes to hold an interlocking position as officer or director of a public utility and of a corporation described by paragraph (b)(2) of this section shall not require authorization to hold such positions in the following circumstances-- (1) The person does not participate in any deliberations or decisions of the public utility regarding the selection of the bank, trust company, banking association, or firm to underwrite or participate in the marketing of securities of the public utility, if the person serves as an officer or director of a bank, trust company, banking association, or firm that is under consideration in the deliberation process; (2) The bank, trust company, banking association, or firm of which the person is an officer or director does not engage in the underwriting of, or participate in the marketing of, securities of the public utility of which the person holds the position of officer or director; (3) The public utility for which the person serves or proposes to serve as an officer or director selects underwriters by competitive procedures; or (4) The issuance of securities of the public utility for which the person serves or proposes to serve as an officer or director has been approved by all Federal and State regulatory agencies having jurisdiction over the issuance. 0 3. Revise Sec. 45.3(a) to read as follows: Sec. 45.3 Timing of filing application. (a) The holding of positions within the purview of section 305(b) of the Act shall be unlawful unless the holding shall have been authorized by order of the Commission. Nothing in this part shall be construed as authorizing the holding of positions within the purview of section 305(b) of the Act prior to order of the Commission on application therefor. Applications must be filed and authorization must be granted prior to holding any interlocking positions within the purview of section 305(b) of the Act; the Commission will consider late-filed applications on a case-by-case basis. The term ``holding,'' as used in this part, shall mean acting as, serving as, voting as, or otherwise performing or assuming the duties and responsibilities of officer or director within the purview of section 305(b) of the Act. * * * * * 0 4. Add Sec. 45.4(c) to read as follows: Sec. 45.4 Supplemental applications. * * * * * (c) Changes in interlocking positions within the scope of Sec. 45.9. Notwithstanding paragraphs (a) and (b) of this section, in the case of interlocking positions that are identified in Sec. 45.9(a), a filing under this section will not be required if the only change to be reported is holding a different or additional interlocking position which is identified in Sec. 45.9(a). 0 5. Revise Sec. 45.5(b) to read as follows: Sec. 45.5 Supplemental information. * * * * * (b) Notice of changes. In the event of the applicant's resignation, withdrawal, or failure of reelection or appointment in respect to any of the interlocking positions for which authorization has been granted by the Commission, or in the event of any other material or substantial change therein, the applicant shall, within 30 days after any such change occurs, give notice thereof to the Commission setting forth the position, corporation, and date of termination therewith, or other material or substantial change. In the case of interlocking positions that are identified in Sec. 45.9(a), a notice of change under this section will not be required if the only change to be reported is holding a different or additional interlocking position which is identified in Sec. 45.9(a). * * * * * 0 6. Revise Sec. 45.8(c)(1) to read as follows: Sec. 45.8 Contents of application. * * * * * (c) * * * (1) Name of utility, unless said utility does not have officers or directors. * * * * * 0 7. Revise Sec. 45.9(a)(1) and (b) to read as follows: Sec. 45.9 Automatic authorization of certain interlocking positions. (a) * * * (1) Officer or director of one or more other public utilities if the same holding company or person owns, directly or indirectly, that percentage of each utility's stock (of whatever class or classes) which is required by each utility's by-laws to elect directors; * * * * * (b) Conditions of authorization. As a condition of authorization, any person authorized to hold interlocking positions under this section must submit, prior to performing or assuming the duties and responsibilities of the position, an informational report in accordance with paragraph (c) of this section, unless that person is already authorized to hold interlocking positions of the type governed by this section. The Commission will consider failures to timely file the informational report on a case-by-case basis. * * * * * PART 46--PUBLIC UTILITY FILING REQUIREMENTS AND FILING REQUIREMENTS FOR PERSONS HOLDING INTERLOCKING POSITIONS 0 8. The authority citation for part 46 continues to read as follows: Authority: 16 U.S.C. 792-828c; 16 U.S.C. 2601-2645; 42 U.S.C. 7101-7352; E.O. 12009, 3 CFR 142. 0 9. In Sec. 46.2, revise paragraph (a), remove and reserve paragraph (b), and revise paragraphs (c) and (e) to read as follows: Sec. 46.2 Definitions. * * * * * (a) Public utility has the same meaning as in section 201(e) of the Federal Power Act. Such term does not [[Page 37455]] include any rural electric cooperative which is regulated by the Rural Utilities Service of the Department of Agriculture or any other entities covered in section 201(f) of the Federal Power Act. * * * * * (c) Purchaser means any individual or corporation within the meaning of section 3 of the Federal Power Act who purchases electric energy from a public utility. Such term does not include the United States or any agency or instrumentality of the United States or any rural electric cooperative which is regulated by the Rural Utilities Service of the Department of Agriculture. * * * * * (e) Entity means any firm, company, or organization including any corporation, joint-stock company, partnership, association, business trust, organized group of persons, whether incorporated or not, or a receiver or receivers, trustee or trustees of any of the foregoing. Such term does not include municipality as defined in section 3 of the Federal Power Act and does not include any Federal, State, or local government agencies or any rural electric cooperative which is regulated by the Rural Utilities Service of the Department of Agriculture. * * * * * [FR Doc. 2018-16463 Filed 7-31-18; 8:45 am] BILLING CODE 6717-01-P
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Proposed Rules Federal Register
Vol. 83, No. 148
Wednesday, August 1, 2018
This section of the FEDERAL REGISTER electronically using word processing competition; (2) allocation of charges for
contains notices to the public of the proposed software should be filed in native goods and services among subsidiary
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18 CFR Parts 45 and 46 see the Comment Procedures Section of
a lack of effective public regulation and
this document.
[Docket No. RM18–15–000] a lack of economies in raising capital.4
FOR FURTHER INFORMATION CONTACT:
Interlocking Officers and Directors; Amery Poré (Technical Information), 2. The Commission implemented
Requirements for Applicants and Office of Energy Market Regulation, Congress’ mandate in part 45 of the
Holders Federal Energy Regulatory Commission’s regulations.5 Consistent
Commission, 888 First Street NE, with the statute, part 45 provides that an
AGENCY: Federal Energy Regulatory Washington, DC 20426, (202) 502– application or informational filing be
Commission, DOE. 6312 filed, and authorization granted, before
ACTION: Notice of proposed rulemaking. Mary Ellen Stefanou (Legal a person may hold otherwise proscribed
Information), Office of the General interlocking positions. Part 46 of the
SUMMARY: The Commission proposes to Counsel, Federal Energy Regulatory Commission’s regulations, which
revise its regulations related to Commission, 888 First Street NE, implements section 305(c) of the FPA,6
interlocking officers and directors to Washington, DC 20426, (202) 502– describes the annual filing requirements
clarify and update the requirements for 8989 for those holding interlocking positions,
both applicants and holders. In
particular, the Commission proposes to SUPPLEMENTARY INFORMATION: including the relevant definitions.
update its regulations to reflect statutory 1. Section 305(b) of the Federal Power 3. As described below, we propose
changes to the circumstances in which Act (FPA) 1 prohibits individuals from revisions to parts 45 and 46 of our
an applicant who would otherwise concurrently holding positions as an regulations.7
require Commission authorization to officer or director of more than one
public utility; or concurrently holding I. Discussion
hold an interlocking position need not
do so. The Commission also proposes to the positions of officer or director of a
public utility and of an entity 4. On October 27, 2016, Commission
revise its regulations to clarify its staff issued its 2016 Biennial Staff
position on late-filed applications and authorized by law to underwrite or
participate in the marketing of public Memo Concerning Retrospective
informational reports. The Commission Analysis of Existing Rules,8 in which it
further proposes to revise its regulations utility securities; 2 or concurrently
holding the positions of officer or identified certain Commission
to clarify that an interlock holder is not regulations as ripe for evaluation,
required to file a notice of change when director of a public utility and a
company supplying electrical including 18 CFR part 45. The Edison
merely changing positions within a
equipment to such public utility, unless Electric Institute (EEI) submitted
holding company. Additionally, the
the holding of such positions has been comments in support of the
Commission proposes to revise its
authorized by the Commission upon a Commission’s suggested revisions to 18
regulations to state that applicants do
not need to list in their applications showing that neither public nor private
public utilities that do not have officers interests will be adversely affected.3 4 Title I, Sec. 1, of the Public Utility Act of 1935
Congress enacted section 305(b) to (49 Stat. 803, 15 U.S.C. 79a). Title I was the Public
or directors. Next, the Commission Utility Holding Company Act of 1935. Title II
proposes to revise its regulations with prevent certain perceived abuses with became Parts II and III of the Federal Power Act,
regard to public utilities owned by a holding companies, including (1) which include section 305(b).
natural person. Finally, the Commission excessive charges to subsidiary public 5 18 CFR part 45 (2017).
proposes to update its regulations to utility companies resulting from the 6 16 U.S.C. 825d(c).
7 18 CFR part 46. Section 305(c) of the FPA, as
remove a section containing definitions lack of arm’s length bargaining or the
relevant here, requires that any person holding
sradovich on DSK3GMQ082PROD with PROPOSALS
and phrases now rendered obsolete. restraint of free and independent interlocking positions in both a public utility and
DATES: Comments are due October 1, any of the entities listed in section 305(c)(2) of the
1 16
U.S.C. 825d(b) (2012). FPA file an annual report listing such interlocking
2018. 2 However,
section 305(b)(2) of the FPA, 16 U.S.C. positions. 16 U.S.C. 825d(c). The Commission
ADDRESSES: Comments, identified by 825d(b)(2), exempts from this prohibition certain implements section 305(c) in part 46 of its
interlocks between public utilities and a financial regulations and through its FERC Form No. 561.
docket number, may be filed in the institution that is authorized to underwrite or 8 2016 Biennial Staff Memo Concerning
following ways: participate in the marketing of public utility Retrospective Analysis of Existing Rules, Docket
• Electronic Filing through http:// securities. No. AD12–6–002 (published Oct. 27, 2016) (81 FR
www.ferc.gov. Documents created 3 16 U.S.C. 825d(b). 76542, Nov. 3, 2016).
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![Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Proposed Rules 37451
CFR part 45 and proposed additional be filed with the Commission before an filed. The Commission would look
revisions.9 applicant holds any interlocking unfavorably on section 305(b)
5. Based on our review of our positions within the purview of section applications where an applicant has not
regulations, as well as our review of the 305. The Commission’s regulations been attentive to his/her obligation to
comments submitted by EEI, we propose currently provide in § 45.3(a) that ‘‘late- file for the required authorization.
the following changes to the regulations filed applications will be denied’’ and 10. The Commission proposes to
in part 45, as well as certain revisions in § 45.9(b) that ‘‘[f]ailure to timely file revise §§ 45.4 and 45.5 of its regulations
to part 46. the informational report will constitute to clarify that supplemental applications
6. Section 45.2 of the Commission’s a failure to satisfy this condition and and notices of change need not be filed
regulations describes the types of will constitute automatic denial.’’ in the case of a person already
interlocking positions that require 8. The Commission expects its authorized to hold interlocks identified
Commission authorization, including regulations to be followed. However, the in § 45.9(a) who may assume new or
those between a public utility and Commission recognizes that good faith different positions that are still among
entities authorized by law to underwrite errors and oversights may occasionally those identified by § 45.9(a).16 For
or participate in the marketing of public result in the inadvertent violation of the example, a promotion within a holding
utility securities.10 However, in 1999, timing of section 305(b)’s filing company system would not require an
Congress amended section 305(b)(2) of requirements. The Commission believes interlock holder to file a notice of
the FPA to provide that an applicant for that it is not in the public interest to change. Such changes in positions
certain interlocking positions is no deny otherwise-qualified applicants’ among related public utilities are
longer required to obtain Commission late-filed applications and informational already reported in the annual Form No.
authorization to hold such positions.11 filings made under these regulations 561s, and separate filings under § 45.4
As a result, the Commission proposes to when the late filing is due solely to such or § 45.5 are unnecessary. However, the
revise § 45.2 of its regulations to add good faith errors and oversights alone. Commission clarifies that, for such
that an applicant for an interlocking Late-filed applications do not impede interlocking positions, a holder would
position between a public utility and a the Commission’s ability to decide the still be required to file a notice of
‘‘bank, trust company, banking case. The statutory standard for change when he/she no longer holds
association, or firm that is authorized by authorization to hold otherwise- any interlocking positions within the
law to underwrite or participate in the proscribed interlocks requires the scope of the statute and regulations. No
marketing of public utility securities,’’ 12 Commission to determine whether the longer holding any interlocking
does not need Commission holding of otherwise-proscribed positions would constitute a ‘‘material
authorization when: interlocks adversely affects neither or substantial change.’’
(1) He/she does not participate in any public nor private interests, and that 11. The Commission proposes to
deliberations or decisions of the public determination typically would not revise § 45.8(c)(1) of its regulations to
utility regarding the selection of the depend solely on the date an applicant state that applicants under part 45 do
bank, trust company, banking happens to file.14 Nor would not need to list in their applications
association, or firm to underwrite or applications that are filed late solely those public utilities that do not have
participate in the marketing of securities due to good faith errors and oversights officers or directors. The Commission
of the public utility, if he/she serves as implicate the abuses that Congress recognizes the growing complexity of
an officer or director of a bank, trust attempted to prevent in promulgating corporate structures. Thus, in the
company, banking association, or firm section 305. Further, denying late-filed interest of reducing regulatory burdens,
that is under consideration in the applications could cause unnecessary the Commission proposes to eliminate
deliberation process; inefficiencies for companies. Therefore,
(2) the bank, trust company, banking the requirement that applications under
the Commission proposes to delete the part 45 list those public utilities that do
association, or firm of which he/she is
above-quoted language, and to replace it not have officers or directors.
an officer or director does not engage in
with language providing for 12. The Commission proposes to
the underwriting of, or participate in the
consideration of late-filed applications revise § 45.9 of its regulations to add the
marketing of, securities of the public
for interlocking positions on a case-by- word ‘‘person’’ when defining the
utility of which he/she holds the
case basis.15 corporate relationships within the scope
position of officer or director;
9. The Commission expects that of the automatic authorizations
(3) the public utility for which he/she
applicants will be attentive to their addressed in § 45.9. The Commission
serves or proposes to serve as an officer
obligation to timely file for the required would thus recognize that public
or director selects underwriters by
authorizations and make every effort to utilities can be owned not just by a
competitive procedures; or
(4) the issuance of securities of the ensure they act in accordance with the corporate entity but by a natural person,
public utility for which he/she serves or statutory directives in section 305(b). In and the regulations should reflect this
proposes to serve as an officer or cases where occasional errors and possibility.
director has been approved by all oversights occur, the Commission 13. Finally, the Commission proposes
Federal and State regulatory agencies expects that those errors and oversights to update its regulations in part 46 to
having jurisdiction over the issuance.13 will be expeditiously identified and remove § 46.2(b), because the
7. Sections 45.3 and 45.9 of the rectified, and applications to hold definitions were rendered obsolete as a
Commission’s regulations require interlocking director positions promptly result of the enactment of the Energy
sradovich on DSK3GMQ082PROD with PROPOSALS
applications and informational filings
14 16
U.S.C. 825d(b)(1). 16 If an applicant has a pending application,
15 The
public utilities whose officers and however, we would expect that the applicant would
9 See Edison Electric Institute Comments, Docket
directors are subject to the statutory directive in supplement his/her application should a change
No. AD12–6–002 (Nov. 28, 2016).
10 18 CFR 45.2(b)(2).
section 305(b) to file, as regulated entities occur while the application is pending. In contrast,
themselves subject to and thus sensitive to the as noted above, an applicant who has been granted
11 See Public Law 106–102, sec. 737, 113 Stat.
requirements of the FPA, would be well-advised to authorization and no longer has a pending
1338, 1479 (1999). and should make every effort to ensure that their application is differently situated, and any change
12 18 CFR 45.2(b)(2).
officers and directors, in turn, act in accordance in the positions held can be addressed in the next
13 See also 16 U.S.C. 825d(b)(2). with the statutory directives in section 305(b). Form No. 561.
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![37452 Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Proposed Rules
Policy Act of 2005 and the concurrent II. Information Collection Statement 15. The revisions proposed in this
repeal of the Public Utility Holding 14. The Paperwork Reduction Act NOPR would clarify and update the
Company Act of 1935.17 The (PRA) 20 requires each federal agency to requirements 22 for those seeking and
Commission notes that § 46.2(b) seek and obtain Office of Management holding interlocking positions. The
currently references the definition of and Budget (OMB) approval before Commission anticipates that the
‘‘holding company system’’ and undertaking a collection of information revisions, once effective, would reduce
‘‘registered holding company system’’ in directed to 10 or more persons or regulatory burdens. The Commission
the Public Utility Holding Company Act contained in a rule of general will submit the proposed reporting
(PUHCA) of 1935.18 However, the applicability. OMB’s regulations 21 requirements to OMB for its review and
Commission recognizes that the Energy require approval of certain information approval under section 3507(d) of the
Policy Act of 2005 repealed the PUHCA collection requirements imposed by Paperwork Reduction Act.23
of 1935.19 Thus, the Commission agency rules. Upon approval of a 16. While the Commission expects
proposes to remove § 46.2(b). The collection of information, OMB will that the regulatory revisions proposed
Commission also proposes to update assign an OMB control number and an herein will reduce the burdens on
part 46 to change ‘‘Rural Electrification expiration date. Respondents subject to affected entities, the Commission
Administration’’ to ‘‘Rural Utilities the filing requirements of an agency rule nonetheless solicits public comments
Service’’ to reflect the name change of will not be penalized for failing to regarding the accuracy of the burden
respond to these collections of and cost estimates below.
that organization.
information unless the collections of 17. Burden Estimate: 24 The estimated
information display a valid OMB burden and cost for the requirements
control number. contained in this NOPR follow.
FERC FORM NO. 520
[Application for authority to hold interlocking directorate positions]
Annual Total annual
number of Total Average burden Cost per
Number of burden hours
responses number of & cost per respondent
respondents (total annual
per responses response 25 cost) ($)
respondent
(1) (2) (1) * (2) = (3) (4) (3) * (4) = (5) (5) ÷ (1)
Full ................................... 16 1 16 50 hrs.; $3,950 .......... 800 hrs.; $63,200 ...... $3,950
Informational .................... 500 1 500 8 hrs.; $632 ............... 4,000 hrs.; $316,000 632
Notice of Change ............. 100 1 100 0.25 hrs.; $19.75 ....... 25 hrs.; $1,975 .......... 19.75
Total .......................... ........................ ........................ ........................ .................................... 4,825 hrs.; $381,175 ........................
Title: FERC–520 (Application for FERC–520 is divided into two types of interlocking position for which the
Authority to Hold Interlocking applications: Full and informational. applicant seeks authorization including,
Directorate Positions). The full application, as specified in 18 but not limited to, a description of
OMB Control No.: 1902–0083. CFR 45.8, implements the FPA duties and the estimated time devoted
Abstract: The FPA, as amended, requirement under section 305(b) that it to the position.
mandates federal oversight and approval is unlawful for any person to An informational (abbreviated)
of certain electric corporate activities to concurrently hold the positions of application, as specified in 18 CFR 45.9,
ensure that neither public nor private officer or director of more than one allows an applicant to receive automatic
interests are adversely affected. public utility; or a public utility and a authorization for an interlocked position
Accordingly, the Commission’s financial institution that is authorized to upon receipt of the filing by the
regulations prescribe related underwrite or participate in the Commission. The informational
information filing requirements to marketing of public utility securities; or application applies only to those
achieve this goal. Such filing a public utility and an electrical individuals who seek authorization as:
requirements are found in 18 CFR parts equipment supplier to such public (1) An officer or director of two or more
45 and 46. utility, unless authorized by the public utilities where the same holding
Overview of the Data Collection. Commission. In order to obtain company owns, directly or indirectly,
FERC–520 provides information related authorization, an applicant must that percentage of each utility’s stock (of
to complex electric corporate activities, demonstrate that neither public nor whatever class or classes) which is
in particular, the holding of interlocking private interests will be adversely required by each utility’s by-laws to
positions, and thereby serves to affected by the holding of the positions. elect directors; (2) an officer or director
safeguard public and private interests, The full application provides the of two public utilities, if one utility is
sradovich on DSK3GMQ082PROD with PROPOSALS
as the FPA requires. Commission with information about any owned, wholly or in part, by the other
17 See Energy Policy Act of 2005, Public Law 109– 23 44U.S.C. 3507(d). 25 The Commission staff thinks that the average
58, 1261–77, 119 Stat. 594, 972–78 (2005). 24 ‘‘Burden’’is the total time, effort, or financial respondent for this collection is similarly situated
18 16 U.S.C. 79a et seq.
resources expended by persons to generate, to the Commission, in terms of salary plus benefits.
19 EPAct 2005, Public Law 109–58, 1263.
maintain, retain, or disclose or provide information Based upon FERC’s 2018 annual average (for salary
20 44 U.S.C. 3507(d).
to or for a Federal agency. For further explanation plus benefits) of $164,820, the average hourly cost
21 5 CFR part 1320. of what is included in the information collection is $79/hour.
22 18 CFR parts 45 and 46. burden, refer to 5 CFR 1320.3
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![Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Proposed Rules 37453
and, as its primary business, owns or III. Environmental Analysis Therefore the average annual cost for
operates transmission or generation 18. The Commission is required to each of the 616 respondents is $618.79.
facilities to provide transmission service prepare an Environmental Assessment That cost is not significant. More
or electric power for sale to its owners; or an Environmental Impact Statement importantly, this proposed rule reduces
or (3) an officer or director of more than for any action that may have a industry cost by eliminating the need
one public utility, if such person is significant adverse effect on the human for the filing of some notices of change.
already authorized under part 45 to hold environment.26 We conclude that 22. The Commission certifies that this
different positions as officer or director neither an Environmental Assessment proposed rule, if adopted, will not have
of those utilities where the interlock nor an Environmental Impact Statement a significant economic impact on a
involves affiliated public utilities. is required for this NOPR under 380.4(a) substantial number of small entities.
FERC–520 also includes the of the Commission’s regulations, which V. Comment Procedures
requirement to file a notice of change if provides a categorical exemption for 23. The Commission invites interested
there are new positions or changes to approval of ‘‘action under section [ ] persons to submit comments on the
the positions held. The Commission is . . . 305 of the FPA relating to . . . matters and issues proposed in this
proposing to revise its requirements and interlocking directorates, . . . .’’ 27 notice of proposed rulemaking to be
no longer require a notice of change IV. Regulatory Flexibility Act adopted, including any related matters
when a person is merely changing or alternative proposals that
positions within a holding company 19. The Regulatory Flexibility Act of
commenters may wish to discuss.
system. This proposal is expected to 1980 (RFA) 28 generally requires a
Comments are due October 1, 2018.
reduce the number of filed notices of description and analysis of proposed
Comments must refer to Docket No.
change by 50 percent annually (from rules that will have significant
RM18–15–000, and must include the
200 filings to 100 filings) and to reduce economic impact on a substantial
commenter’s name, the organization
the corresponding total burden. number of small entities. The Small
they represent, if applicable, and their
Business Administration’s (SBA) Office
Type of Respondents: Individuals address in their comments.
of Size Standards develops the
who plan to concurrently become or 24. The Commission encourages
numerical definition of a small entity.29
concurrently are officers or directors of comments to be filed electronically via
These standards are provided in the
public utilities and of certain other the eFiling link on the Commission’s
SBA regulations at 13 CFR 121.201.30
entities must request authorization to website at http://www.ferc.gov. The
20. This proposed rule, if adopted,
hold such interlocking positions by Commission accepts most standard
would apply to those individuals
submitting a FERC–520. word processing formats. Documents
seeking to hold and those currently
created electronically using word
Internal Review: The Commission has holding interlocking positions. In order
processing software should be filed in
reviewed the information collection to obtain authorization, an applicant
native applications or print-to-PDF
requirements and has determined that must demonstrate that neither public
format and not in a scanned format.
certain changes are needed and that the nor private interests will be adversely
Commenters filing electronically do not
remaining requirements are necessary. affected by the holding of the
need to make a paper filing.
These requirements conform to the interlocking positions. 25. Commenters that are not able to
Commission’s need for efficient 21. There are an estimated 16
file comments electronically must send
information collection, communication, respondents who could file full
an original of their comments to:
and management within the energy applications over the course of a year,
Federal Energy Regulatory Commission,
industry. The Commission has specific, who would provide one response
Secretary of the Commission, 888 First
objective support for the burden annually with an estimated time
Street NE, Washington, DC 20426.
estimates associated with the commitment of 50 hours per response, 26. All comments will be placed in
information collection requirements. and a resulting estimated cost of the Commission’s public files and may
Interested persons may obtain $3,950.00 per respondent. There are an be viewed, printed, or downloaded
information on the reporting estimated 500 respondents who could remotely as described in the Document
requirements by contacting the file informational applications over the Availability section below. Commenters
following: Federal Energy Regulatory course of a year, who would provide on this proposal are not required to
Commission, 888 First Street NE, one response annually with an serve copies of their comments on other
Washington, DC 20426 [Attention: Ellen estimated time commitment of 8 hours commenters.
Brown, Office of the Executive Director], per response, and a resulting estimated
email: DataClearance@ferc.gov, Phone: cost of $632.00 per respondent. In VI. Document Availability
(202) 502–8663, fax: (202) 273–0873. addition, there are an estimated 100 27. In addition to publishing the full
Comments concerning the collection of respondents who could file a notice of text of this document in the Federal
information and the associated burden change annually with an estimated time Register, the Commission provides all
estimate(s) may also be sent to the commitment of 0.25 hours, and a interested persons an opportunity to
Office of Information and Regulatory resulting cost of $19.75 per respondent. view and/or print the contents of this
Affairs, Office of Management and document via the internet through the
26 Regulations Implementing the National
Budget, 725 17th Street NW, Commission’s Home Page (http://
Environmental Policy Act, Order No. 486, FERC
Washington, DC 20503 [Attention: Desk www.ferc.gov) and in the Commission’s
sradovich on DSK3GMQ082PROD with PROPOSALS
Stats. & Regs. ¶ 30,783 (1987).
Officer for the Federal Energy 27 18 CFR 380.4(a)(16). Public Reference Room during normal
Regulatory Commission]. Due to 28 5 U.S.C. 601–12. business hours (8:30 a.m. to 5:00 p.m.
security concerns, comments should be 29 13 CFR 121.101. Eastern time) at 888 First Street NE,
sent electronically to the following 30 13 CFR 121.201. See also U.S. Small Business
Room 2A, Washington, DC 20426.
email address: oira_submission@ Administration, Table of Small Business Size 28. From the Commission’s Home
Standards Matched to North American Industry
omb.eop.gov. Please refer to FERC–520, Classification System Codes (effective Feb. 26,
Page on the internet, this information is
OMB Control No. 1902–0083 in your 2016), https://www.sba.gov/sites/default/files/files/ available on eLibrary. The full text of
submission. Size_Standards_Table.pdf. this document is available on eLibrary
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![Federal Register / Vol. 83, No. 148 / Wednesday, August 1, 2018 / Proposed Rules 37455
include any rural electric cooperative intended use within the applicable section of this issue of the Federal
which is regulated by the Rural Utilities review period. Persons may not Register.
Service of the Department of Agriculture commence manufacture or processing
List of Subjects in 40 CFR Part 721
or any other entities covered in section for the significant new use until EPA
201(f) of the Federal Power Act. has conducted a review of the Environmental protection, Chemicals,
* * * * * premanufacture notice, made an Hazardous substances, Reporting and
(c) Purchaser means any individual or appropriate determination on the recordkeeping requirements.
corporation within the meaning of notification, and has taken such actions Dated: July 19, 2018.
section 3 of the Federal Power Act who as are required with that determination. Jeffery T. Morris,
purchases electric energy from a public In addition to this notice of proposed Director, Office of Pollution Prevention and
utility. Such term does not include the rulemaking, EPA is issuing the action as Toxics.
United States or any agency or a direct final rule elsewhere in this issue [FR Doc. 2018–15996 Filed 7–31–18; 8:45 am]
instrumentality of the United States or of the Federal Register.
BILLING CODE 6560–50–P
any rural electric cooperative which is DATES: Comments must be received on
regulated by the Rural Utilities Service or before August 31, 2018.
of the Department of Agriculture. ADDRESSES: Submit your comments, DEPARTMENT OF COMMERCE
* * * * * identified by docket identification (ID)
(e) Entity means any firm, company, number EPA–HQ–OPPT–2017–0366, by National Oceanic and Atmospheric
or organization including any one of the following methods: Administration
corporation, joint-stock company, • Federal eRulemaking Portal: http://
partnership, association, business trust, www.regulations.gov. Follow the online 50 CFR Part 622
organized group of persons, whether instructions for submitting comments.
incorporated or not, or a receiver or [Docket No. 171128999–8625–01]
Do not submit electronically any
receivers, trustee or trustees of any of information you consider to be RIN 0648–BH43
the foregoing. Such term does not Confidential Business Information (CBI)
include municipality as defined in or other information whose disclosure is Fisheries of the Caribbean, Gulf of
section 3 of the Federal Power Act and restricted by statute. Mexico, and South Atlantic; Permit
does not include any Federal, State, or • Mail: Document Control Office Renewal Applications
local government agencies or any rural (7407M), Office of Pollution Prevention
electric cooperative which is regulated AGENCY: National Marine Fisheries
and Toxics (OPPT), Environmental Service (NMFS), National Oceanic and
by the Rural Utilities Service of the Protection Agency, 1200 Pennsylvania
Department of Agriculture. Atmospheric Administration (NOAA),
Ave. NW, Washington, DC 20460–0001. Commerce.
* * * * * • Hand Delivery: To make special
[FR Doc. 2018–16463 Filed 7–31–18; 8:45 am] ACTION: Proposed rule; request for
arrangements for hand delivery or
BILLING CODE 6717–01–P delivery of boxed information, please comments.
follow the instructions at http:// SUMMARY: NMFS proposes to make
www.epa.gov/dockets/contacts.html. administrative revisions to the renewal
ENVIRONMENTAL PROTECTION Additional instructions on process for Federal vessel permits,
AGENCY commenting or visiting the docket, licenses, and endorsements, and dealer
along with more information about permits (hereafter referred to
40 CFR Part 721 dockets generally, is available at http:// collectively as permits) in the NMFS
[EPA–HQ–OPPT–2017–0366; FRL–9981–16] www.epa.gov/dockets. Southeast Region. This proposed rule
FOR FURTHER INFORMATION CONTACT: would remove the regulatory
RIN 2070–AB27
For technical information contact: requirement that NMFS must mail a
Significant New Use Rules on Certain Kenneth Moss, Chemical Control renewal application to a permit holder
Chemical Substances Division (7405M), Office of Pollution (vessel or dealer) whose Federal permit
Prevention and Toxics, Environmental is expiring. NMFS will continue to
AGENCY: Environmental Protection Protection Agency, 1200 Pennsylvania provide notice of the upcoming
Agency (EPA). Ave. NW, Washington, DC 20460–0001; expiration date to the permit holder.
ACTION: Proposed rule. telephone number: (202) 564–9232; This proposed rule would also remove
SUMMARY: EPA is proposing significant email address: moss.kenneth@epa.gov. the regulatory requirement that NMFS
new use rules (SNURs) under the Toxic For general information contact: The must notify an applicant of any
Substances Control Act (TSCA) for 145 TSCA-Hotline, ABVI-Goodwill, 422 deficiency in a renewal application only
chemical substances which were the South Clinton Ave., Rochester, NY through sending a letter via traditional
subject of premanufacture notices 14620; telephone number: (202) 554– mail, such as through the U.S. Postal
(PMNs). The chemical substances are 1404; email address: TSCA-Hotline@ Service, which would allow NMFS
subject to Orders issued by EPA epa.gov. expanded options for notifying permit
pursuant to section 5(e) of TSCA. This SUPPLEMENTARY INFORMATION: In holders. The purpose of this proposed
action would require persons who addition to this Notice of Proposed rule is to reduce the administrative costs
sradovich on DSK3GMQ082PROD with PROPOSALS
intend to manufacture (defined by Rulemaking, EPA is issuing the action and burden to NMFS of renewing
statute to include import) or process any as a direct final rule elsewhere in this Federal permits, while still maintaining
of these 145 chemical substances for an issue of the Federal Register. For further the needed information and services to
activity that is designated as a information about the proposed the public.
significant new use by this rule to notify significant new use rules, please see the DATES: Written comments must be
EPA at least 90 days before commencing information provided in the direct final received by August 31, 2018.
that activity. The required notification action, with the same title, that is ADDRESSES: You may submit comments
initiates EPA’s evaluation of the located in the ‘‘Rules and Regulations’’ on the proposed rule identified by
VerDate Sep<11>2014 16:34 Jul 31, 2018 Jkt 244001 PO 00000 Frm 00006 Fmt 4702 Sfmt 4702 E:\FR\FM\01AUP1.SGM 01AUP1](https://thefederalregister.org/doc/83_FR_37598/page/6.svg)
Document Created: 2018-08-01 01:23:21
Document Modified: 2018-08-01 01:23:21
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Proposed Rules | |
| Action | Notice of proposed rulemaking. | |
| Dates | Comments are due October 1, 2018. | |
| Contact | Amery Por[eacute] (Technical Information), Office of Energy Market Regulation, Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426, (202) 502-6312 Mary Ellen Stefanou (Legal Information), Office of the General Counsel, Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426, (202) 502-8989 | |
| FR Citation | 83 FR 37450 | |
| CFR Citation | 18
CFR
45 18 CFR 46 | |
| CFR Associated | Electric Utilities; Reporting and Recordkeeping Requirements; Antitrust and Holding Companies |
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