[Federal Register Volume 66, Number 129 (Thursday, July 5, 2001)]
[Notices]
[Pages 35413-35414]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-16747]


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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. IC01-525-001, FERC-525]


Information Collection Submitted for Review and Request for 
Comments

June 28, 2001.
AGENCY: Federal Energy Regulatory Commission, DOE.

ACTION: Notice of submission for review by the Office of Management and 
Budget (OMB) and request for comments.

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SUMMARY: The Federal Energy Regulatory Commission (Commission) has 
submitted the energy information collection listed in this notice to 
the Office of Management and Budget (OMB) for review under provisions 
of Section 3507 of the Paperwork Reduction Act of 1995 (Pub. L. 104-
13). Any interested person may file comments on the collection of 
information 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 April 
4, 2001 (66 FR 17870-71) and has made this notation in its submission 
to OMB.

DATES: Comments regarding this collection of information are best 
assured of having their full effect if received within 30 days of this 
notification.

ADDRESSES: Address comments to Office of Management and Budget, Office 
of Information and Regulatory Affairs, Attention: Federal Energy 
Regulatory Commission, Desk Officer, Room 10202 NEOB, 725 17th Street, 
NW., Washington, DC 20503. A copy of the comments should also be sent 
to Federal Energy Regulatory Commission, Office of the Chief 
Information Officer, Attention: Mr. Michael Miller, 888 First Street 
NE., Washington, DC 20426.

FOR FURTHER INFORMATION CONTACT: Michael Miller may be reached by 
telephone at (202) 208-1415, by fax at (202) 273-0873, and by e-mail at 
[email protected].

SUPPLEMENTARY INFORMATION:

[[Page 35414]]

Description

    The energy information collection submitted to OMB for review 
contains:
    1. Collection of Information: FERC-525 ``Financial Audits.''
    2. Sponsor: Federal Energy Regulatory Commission.
    3. Control No.: OMB No. 1902-0092. The Commission is now requesting 
that OMB approve a three-year extension of the current expiration date, 
with no change to the existing collection. There is a decrease in the 
reporting burden due to the Commission's shift in emphasis from 
periodic audits that ensure companies' financial records conform to 
FERC's accounting and reporting requirements to audits that assess and 
evaluate the regulatory implication of industry practices and 
standards. These are mandatory information collection requirements.
    4. Necessity of Collection of Information: Submission of the 
information is necessary to enable the Commission to carry out its 
responsibilities in implementing the provisions of the Federal Power 
Act (EPA), the Natural Gas Act (NGA) and the Interstate Commerce Act 
(ICA). These statutes provide the Commission with the authority and 
responsibility for ensuring compliance by jurisdictional companies with 
the Acts' requirements. The information gathered under Commission 
identifier FERC-525 is obtained during financial/compliance audits of 
jurisdictional companies forming the basis of the audit staff's opinion 
regarding (1) the reliability of financial data filed with the FERC by 
companies, (2) the extent of conformance by the companies with the 
Uniform System of Accounts and other regulations of the FERC, and (3) 
compliance with the FERC's regulation for open access transportation of 
natural gas and electric energy including standards of conduct and 
electronic bulletin board postings of transportation/transmission 
availability and pricing.
    5. Respondent Description: The respondent universe currently 
comprises on average, 50 companies subject to a Commission audit 
annually.
    6. Estimated Burden: 5,000 total burden hours, 50 respondents, 1 
response annually, 100 hours per response (average).
    7. Estimated Cost Burden to Respondents: 5,000 hours  2,080 
hours per year  x  $117,041 per year = $281,349 total costs and average 
cost per respondent = $5,627.

    Authority: Sec. 4(b), 208, 301(b), 302, 307 and 308 of the 
Federal Power Act, U.S.C. 792-828g; sec. 6, 8(b), 9 and 10 of the 
Natural Gas Act, 15 U.S.C. 717-717w; and sec. 19 and 20 of the 
Interstate Commerce Act, 49 U.S.C. 19-20.

David P. Boergers,
Secretary.
[FR Doc. 01-16747 Filed 7-03-01; 8:45 am]
BILLING CODE 6717-01-M