[Federal Register: April 5, 2007 (Volume 72, Number 65)]
[Notices]
[Page 16774-16775]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05ap07-54]
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DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
[IC07-6Q-001, FERC 6Q]
Commission Information Collection Activities, Proposed
Collection; Comment Request; Extension
March 30, 2007.
AGENCY: Federal Energy Regulatory Commission.
ACTION: Notice.
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SUMMARY: In compliance with the requirements of section 3507 of the
Paperwork Reduction Act of 1995, 44 U.S.C. 3507, the Federal Energy
Regulatory Commission (Commission) has submitted the information
collection described below to the Office of Management and Budget (OMB)
for review and extension of this information collection requirement.
Any interested person may file comments directly with OMB and should
address a copy of those comments to the Commission as explained below.
The Commission received no comments in response to an earlier Federal
Register notice of December 15, 2006 (71 FR 75523-75524) and has made
this notation in its submission to OMB.
DATES: Comments on the collection of information are due by May 4,
2007.
ADDRESSES: Address comments on the collection of information to the
Office of Management and Budget, Office of Information and Regulatory
Affairs, Attention: Federal Energy Regulatory Commission Desk Officer.
Comments to OMB should be filed electronically, c/o
oira_submission@omb.eop.gov and include the OMB Control No. as a point of
reference. The Desk Officer may be reached by telephone at 202-395-
4650. A copy of the comments should also be sent to the Federal Energy
Regulatory Commission, Office of the Executive Director, ED-34,
Attention: Michael Miller, 888 First Street, NE., Washington, DC 20426.
Comments may be filed either in paper format or electronically. Those
persons filing electronically do not need to make a paper filing. For
paper filings an original and 14 copies, of such comments should be
submitted to the Secretary of the Commission, Federal Energy Regulatory
Commission, 888 First Street, NE., Washington, D.C. 20426 and should
refer to Docket No. IC07-6Q-001.
Documents filed electronically via the Internet must be prepared in
WordPerfect, MS Word, Portable Document Format, or ASCII format. To
file the document, access the Commission's Web site at http://www.ferc.gov
and click on ``Make an E-Filing,'' and then follow the
instructions for each screen. First time users will have to establish a
user name and password. The Commission will send an automatic
acknowledgement to the sender's e-mail address upon receipt of
comments. User assistance for electronic filings is available at 202-
502-8258 or by e-mail to efiling@ferc.gov. Comments should not be
submitted to this e-mail address.
All comments may be viewed, printed or downloaded remotely via the
Internet through FERC's homepage using the ``eLibrary'' link. Enter the
docket number excluding the last three digits in the docket number
field to access the document. For user assistance, contact
FERCOnlineSupport@ferc.gov or toll-free at (866) 208-3676, or for TTY,
contact (202) 502-8659.
FOR FURTHER INFORMATION CONTACT: Michael Miller may be reached by
telephone at (202)502-8415, by fax at (202)273-0873, and by e-mail at
michael.miller@ferc.gov.
SUPPLEMENTARY INFORMATION:
Description
The information collection submitted for OMB review contains the
following:
1. Collection of Information: FERC 6Q ``Quarterly Financial Report
of Oil Pipeline Companies.''
2. Sponsor: Federal Energy Regulatory Commission.
3. Control No.: 1902-0206.
The Commission is now requesting that OMB approve and extend the
expiration date for an additional three years with no changes to the
existing collection. The information filed with the Commission is
mandatory.
4. Necessity of the Collection of Information: Submission of the
information is necessary for the Commission to carry out its
responsibilities in implementing the statutory provisions of the
Interstate Commerce Act (ICA), (49 U.S.C.). Although the Commission
requires jurisdictional entities to file financial information, a
general weakness in this reporting program has been the frequency with
which the financial
[[Page 16775]]
reports are required. In a rapidly changing business environment,
annual reporting is simply insufficient. Financial accounting and
reporting provides needed information concerning a company's past
performance and its future prospects. Without reliable financial
statements prepared in accordance with the Commission's Uniform System
of Accounts and related regulations, the Commission would be unable to
accurately determine the costs that relate to a particular time period,
service or line of business. Additionally, it would be difficult to
determine whether a given entity has previously been given the
opportunity to recover its cost through rates, or to compare how the
financial performance and results of operations of one regulated entity
relates to that of another.
The need for current and better disclosures in financial statements
drives the increasing demand for timely, relevant and reliable
financial information. As such, the FERC Form 6-Q Quarterly Report
provides the Commission with a more timely and informative picture of
the jurisdictional oil pipeline entities' financial and operational
condition.
More specifically, the Commission's Office of Enforcement (OE) uses
the FERC Form 6-Q data collected to assist in the implementation of its
financial and operational audits and investigation programs, in the
review of the financial condition of regulated companies, and in the
assessment of energy markets. The Office of Energy Markets and
Reliability (OEMR) uses the data collected for its various rate
proceedings and economic analysis. The Office of Administrative
Litigation (OAL) uses the data collected for background research for
use in litigation. The Office of General Counsel (OGC) uses the data in
its programs relating to the administration of the ICA.
5. Respondent Description: The respondent universe currently
comprises 138 companies (on average) subject to the Commission's
jurisdiction.
6. Estimated Burden: 62,100 total hours, 138 respondents (average),
3 responses per respondent, and 150 hours per response (average).
7. Estimated Cost Burden to respondents: 62,100 hours/2080 hours
per years x $117,321 per year = $3,646,494. The cost per respondent is
equal to $26,424.
Statutory Authority: 49 App. U.S.C. Sec. Sec. 1-85 (1988).
Philis J. Posey,
Acting Secretary.
[FR Doc. E7-6322 Filed 4-4-07; 8:45 am]
BILLING CODE 6717-01-P