[Federal Register Volume 81, Number 64 (Monday, April 4, 2016)]
[Notices]
[Pages 19166-19167]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-07537]
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DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
[Docket No. IC16-7-000]
Commission Information Collection Activities (FERC Form 6-Q);
Comment Request; Extension
AGENCY: Federal Energy Regulatory Commission, DOE.
ACTION: Notice of information collection and request for comments.
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SUMMARY: In compliance with the requirements of the Paperwork Reduction
Act of 1995, 44 U.S.C. 3506(c)(2)(A), the Federal Energy Regulatory
Commission (Commission or FERC) is soliciting public comment on the
currently approved information collection, FERC Form 6-Q (Quarterly
Financial Report of Oil Pipeline Companies).
DATES: Comments on the collection of information are due June 3, 2016.
ADDRESSES: You may submit comments (identified by Docket No. IC16-7-
000) by either of the following methods:
eFiling at Commission's Web site: http://www.ferc.gov/docs-filing/efiling.asp.
Mail/Hand Delivery/Courier: Federal Energy Regulatory
Commission, Secretary of the Commission, 888 First Street NE.,
Washington, DC 20426.
Instructions: All submissions must be formatted and filed in
accordance with submission guidelines at: http://www.ferc.gov/help/submission-guide.asp. For user assistance contact FERC Online Support
by email at [email protected], or by phone at: (866) 208-3676
(toll-free), or (202) 502-8659 for TTY.
Docket: Users interested in receiving automatic notification of
activity in this docket or in viewing/downloading comments and
issuances in this docket may do so at http://www.ferc.gov/docs-filing/docs-filing.asp.
FOR FURTHER INFORMATION CONTACT: Ellen Brown may be reached by email at
[email protected], telephone at (202) 502-8663, and fax at (202)
273-0873.
SUPPLEMENTARY INFORMATION:
Title: FERC Form 6-Q, Quarterly Financial Report of Oil Pipeline
Companies.\1\
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\1\ The renewal request in this IC docket is for the current
FERC Form 6-Q, with no change to the reporting requirements. The
FERC Form 6-Q is also part of the Forms Refresh effort (started in
Docket No. AD15-11), which is a separate activity.
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OMB Control No.: 1902-0206.
Type of Request: Three-year extension of the FERC Form 6-Q
information collection requirements with no changes to the current
reporting requirements.
Abstract: Under the Interstate Commerce Act (ICA) ,\2\ the
Commission is authorized and empowered to make investigations and to
collect and record data to the extent FERC may consider to be necessary
or useful for the purpose of carrying out the provisions of the ICA.
FERC must ensure just and reasonable rates for transportation of crude
oil and petroleum products by pipelines in interstate commerce.
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\2\ 49 U.S.C. Part 1, Section 20, 54 Stat. 916.
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The Commission uses the information collected by FERC Form 6-Q to
carry out its responsibilities in implementing the statutory provisions
of the ICA to include the authority to prescribe rules and regulations
concerning accounts, records, and memoranda, as necessary or
appropriate. Financial accounting and reporting provides necessary
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.
The Commission uses data from the FERC Form 6-Q to assist in:
1. Implementation of its financial audits and programs,
2. continuous review of the financial condition of regulated
companies,
3. assessment of energy markets,
4. rate proceedings and economic analyses, and
5. research for use in litigation.
Financial information reported on the quarterly FERC Form 6-Q
provides FERC, as well as customers, investors and others, an important
tool to help identify emerging trends and issues affecting
jurisdictional entities within the energy industry. It also provides
timely disclosures of the impacts that new accounting standards, or
changes in existing standards, have on jurisdictional entities, as well
as the economic effects of significant transactions, events, and
circumstances. The reporting of this information by jurisdictional
entities assists the Commission in its analysis of profitability,
efficiency, risk, and in its overall monitoring.
Type of Respondents: Oil pipelines.
Estimate of Annual Burden: \3\ The Commission estimates the annual
public reporting burden for the information collection as:
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\3\ The Commission defines burden as 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, reference 5 Code of Federal
Regulations 1320.3.
[[Page 19167]]
FERC Form 6-Q--Quarterly Financial Report of Oil Companies
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Total annual
Annual number Total number Average burden burden hours & Cost per
Number of respondents of responses of responses & cost per total annual respondent ($)
per respondent response \4\ cost
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(1) (2) (1) * (2) = (4) (3) * (4) = (5) / (1)
(3) (5)
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175............................. 3 525 150 78,750 32,400
$10,800 $5,670,000
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\4\ The estimates for cost per response are derived using the
2015 FERC average salary plus benefits of $149,489/year (or $72.00/
hour). Commission staff finds that the work done for this
information collection is typically done by wage categories similar
to those at FERC.
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Comments: Comments are invited on: (1) Whether the collection of
information is necessary for the proper performance of the functions of
the Commission, including whether the information will have practical
utility; (2) the accuracy of the agency's estimate of the burden and
cost of the collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility and clarity of the information collection; and (4) ways to
minimize the burden of the collection of information on those who are
to respond, including the use of automated collection techniques or
other forms of information technology.
Dated: March 29, 2016.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2016-07537 Filed 4-1-16; 8:45 am]
BILLING CODE 6717-01-P