[Federal Register Volume 72, Number 65 (Thursday, April 5, 2007)]
[Notices]
[Pages 16774-16775]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-6322]


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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 [email protected] 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 [email protected]. 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 
[email protected] 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 
[email protected].

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