Notice2025-02357
Commission Information Collection Activities (FERC Form No. 60, FERC-61, and FERC-555A); Consolidated Comment Request; Extension
Primary source
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Published
February 7, 2025
Issuing agencies
Energy DepartmentFederal Energy Regulatory Commission
Abstract
In compliance with the requirements of the Paperwork Reduction Act of 1995, the Federal Energy Regulatory Commission (Commission or FERC) is soliciting public comment on the currently approved information collections, FERC Form No. 60 (Annual Report of Centralized Service Companies), FERC-61 (Narrative Description of Service Company Functions), and FERC-555A (Preservation of Records Companies and Service Companies Subject to PUHCA).
Full Text
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<title>Federal Register, Volume 90 Issue 25 (Friday, February 7, 2025)</title>
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[Federal Register Volume 90, Number 25 (Friday, February 7, 2025)]
[Notices]
[Pages 9144-9146]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-02357]
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DEPARTMENT OF ENERGY
Federal Energy Regulatory Commission
[Docket No. IC25-6-000]
Commission Information Collection Activities (FERC Form No. 60,
FERC-61, and FERC-555A); Consolidated Comment Request; Extension
AGENCY: Federal Energy Regulatory Commission, Department of Energy.
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, the Federal Energy Regulatory Commission (Commission or
FERC) is soliciting public comment on the currently approved
information collections, FERC Form No. 60 (Annual Report of Centralized
Service Companies), FERC-61 (Narrative Description of Service Company
Functions), and FERC-555A (Preservation of Records Companies and
Service Companies Subject to PUHCA).
DATES: Comments on the collection of information are due April 8, 2025.
ADDRESSES: You may submit comments (identified by Docket No. IC25-6-
000) by any of the following methods:
Electronic filing through <a href="https://www.ferc.gov">https://www.ferc.gov</a>, is preferred.
<bullet> Electronic Filing: Documents must be filed in acceptable
native applications and print-to-PDF, but not in scanned or picture
format.
<bullet> For those unable to file electronically, comments may be
filed by USPS mail or by hand (including courier) delivery:
[cir] Mail via U.S. Postal Service Only: Addressed to: Federal
Energy Regulatory Commission, Secretary of the Commission, 888 First
Street NE, Washington, DC 20426.
[cir] Hand (Including Courier) Delivery: Deliver to: Federal Energy
Regulatory Commission, 12225 Wilkins Avenue, Rockville, MD 20852.
Instructions: All submissions must be formatted and filed in
accordance with submission guidelines at: <a href="https://www.ferc.gov">https://www.ferc.gov</a>. For
user assistance, contact FERC Online Support by email at:
<a href="/cdn-cgi/l/email-protection#781e1d0a1b17161411161d0b0d0808170a0c381e1d0a1b561f170e"><span class="__cf_email__" data-cfemail="1a7c7f687975747673747f696f6a6a75686e5a7c7f6879347d756c">[email protected]</span></a>, or by phone at: (866) 208-3676 (toll-free).
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: <a href="https://www.ferc.gov">https://www.ferc.gov</a>.
FOR FURTHER INFORMATION CONTACT: Kayla Williams may be reached by email
at <a href="/cdn-cgi/l/email-protection#99ddf8edf8daf5fcf8ebf8f7fafcd9dfdccbdab7fef6ef"><span class="__cf_email__" data-cfemail="6622071207250a03071407080503262023342548010910">[email protected]</span></a> and telephone at (202) 502-8663.
SUPPLEMENTARY INFORMATION:
Type of Request: Three-year extension of the information collection
requirements for FERC Form No. 60, FERC-61, and FERC-555A with no
changes to the current reporting requirements.
OMB Control Nos. and Titles: 1902-0215 ((FERC Form No. 60 (Annual
Report of Centralized Service Companies), FERC-61 (Narrative
Description of Service Company Functions), and FERC-555A (Preservation
of Records Companies and Service Companies Subject to PUHCA)).
Abstract: In accordance with the Energy Policy Act of 2005 (EPAct
2005), the Commission implemented the repeal of the Public Utility
Holding Company Act of 1935 (PUHCA 1935) and implemented the provisions
of a newly enacted Public Utility Holding Company Act 2005 (PUHCA
2005). Pursuant to PUHCA 2005, the Commission requires centralized
service companies to file FERC Form No. 60 or FERC-61, and comply with
FERC-555A's requirements unless the company is exempted or granted a
waiver pursuant to the Commission's regulations. The information
collected in FERC Form No. 60 enables better monitoring for cross-
subsidization, and aids the Commission in carrying out its statutory
responsibilities. In addition, centralized service companies are
required to follow the Commission's preservation of records
requirements for centralized service companies.
FERC Form No. 60
FERC Form No. 60 is an annual reporting requirement for centralized
service companies set forth in 18 CFR 366.23. The report's function is
to collect financial information (including balance sheet, assets,
liabilities, billing and charges for associated and non-associated
companies) from centralized service companies subject to the
Commission's jurisdiction. Unless the Commission exempts or grants a
waiver pursuant to 18 CFR 366.3 and 366.4 to the holding company
system, every centralized service company in a holding company system
must prepare and file electronically with the Commission the FERC Form
No. 60, pursuant to the General Instructions in the form.
FERC-61
FERC-61 is a filing requirement for service companies in holding
company systems (including special purpose companies) that are
currently exempt or granted a waiver of FERC's regulations and would
not have to file FERC Form No. 60. Instead, those service companies are
required to file, on an annual basis, a narrative description of the
service company's functions during the prior calendar year (FERC-61).
In complying, a holding company may make a single filing on behalf of
all of its service company subsidiaries.
FERC-555A
The Commission's regulations prescribe a mandated preservation of
records requirement for holding companies and service companies (unless
otherwise exempted by FERC). This requires them to maintain and make
available to FERC, their books and records. The preservation of records
requirement provides for uniform records retention by holding companies
and centralized service companies subject to PUHCA 2005.
[[Page 9145]]
Data from FERC Form No. 60, FERC-61, and FERC-555A provide a level
of transparency that: (1) helps protect ratepayers from pass-through of
improper service company costs, (2) enables the Commission to review
and determine cost allocations (among holding company members) for
certain non-power goods and services, (3) aids the Commission in
meeting its oversight and market monitoring obligations, and (4)
benefits the public, both as ratepayers and investors. In addition, the
Commission's audit staff uses these records during compliance audits,
reviews and special analyses.
If data from FERC Form No. 60, FERC-61, and FERC-555A were not
available, it would be difficult for the Commission to meet its
statutory responsibilities under EPAct 1992, EPAct of 2005, and PUHCA
2005, and the Commission would have fewer of the regulatory mechanisms
necessary to ensure transparency and protect ratepayers.
Type of Respondent: Centralized service companies.
Estimate of Annual Burden: \1\ The Commission estimates the annual
public reporting burden and cost (rounded in the tables) for the
information collections as: \2\
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\1\ Burden is defined as the total time, effort, or financial
resources expended by persons to generate, maintain, retain,
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. The burden hours and costs
are rounded for ease of presentation.
\2\ The cost for the Form 60 and FERC-61 is based on FERC's 2024
Commission-wide average salary cost (salary plus benefits) of $100/
hour. The Commission staff believes the FERC FTE (full-time
equivalent) average cost for wages plus benefits is representative
of the corresponding cost for the industry respondents.
For the FERC-555A, the $39.53 hourly cost figure comes from the
average cost (wages plus benefits) of a file clerk (Occupation Code
43-4071) as posted on the BLS website (<a href="https://www.bls.gov/oes/current/naics2_22.htm">https://www.bls.gov/oes/current/naics2_22.htm</a>).
FERC-60--Annual Burden Estimate
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C. Annual
number of D. Total number of E. Average burden hours F. Total annual burden
B. Number of respondents responses per responses & cost per response hours & cost G. Cost per respondent
respondent
(column B x column C) (column D x column E).. (column F / column B)
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37.................................. 1 37 78 hrs.; $7,800........ 2,886 hrs.; $288,600... $7,800
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FERC-61--Annual Burden Estimate
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C. Annual
number of D. Total number of E. Average burden hours F. Total annual burden
B. Number of respondents responses per responses & cost per response hours & cost G. Cost per respondent
respondent
(column B x column C) (column D x column E).. (column F / column B)
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14 \3\.............................. 1 14 0.5 hrs.; $50.......... 7 hrs.; $700........... $50
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FERC-555A--Annual Burden Estimate
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C. Annual
number of D. Total number of E. Average burden hours F. Total annual burden
B. Number of respondents responses per responses & cost per response hours & cost G. Cost per respondent
respondent
(column B x column C) (column D x column E).. (column F / column B)
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51.................................. 1 51 1,080 hrs.; $42,692.40. 55,080 hrs.; $42,692.40
$2,177,312.40.
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FERC-555A--Record Retention
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Total number of Cost per Total annual
responses respondent cost
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Electronic Storage........................................... 51 $10.00 $510
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Total Annual Cost: $2,468,472.40 [$288,600 (FERC Form No. 60) +
$700 (FERC-61) + $2,177,312.40 (FERC-555A)] (Labor Cost) + $510 (Record
Retention storage cost) = $2,468,472.40.]
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\3\ Previously, the Commission estimated the number of FERC-61
respondents by including the potential for a holding company to file
for a group of companies. In contrast, the current estimate is
updated to instead reflect the actual number of filers filing the
FERC-61, as opposed to the potential number of companies represented
by the population of filers. The current approach is more precisee
as it can be confirmed by reviewing the most recent number of FERC-
61 filers. It is also consistent with the manner in which the number
of respondents is estimated for other Commission collections. The
varying corporate sizes and complexities inherent in the filing
community is already taken into account via the burden hours
estimate that is based on average filer burden.
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A more granular breakdown of the FERC-60/61/555A cost categories
follows:
Labor Cost: The total estimated annual cost for labor burden to
respondents is $2,466,612.40 [$288,600 (FERC Form No. 60) + $700 (FERC-
61) + $2,177,312.40 (FERC-555A)].
FERC Form No. 60: 37 respondents x $7,800 per respondent =
$288,600.
FERC-61: 14 respondents x $50 per respondent = $700.
FERC-555A: 51 respondents x $42,692.40 per respondent =
$2,177,312.40.
We expect the labor cost of FERC-555A record keeping to trend
downward over time as companies move their
[[Page 9146]]
records almost entirely to electronic record keeping and storage.
Storage Cost: \4\ In addition to the FERC-555A labor (burden cost
provided above), there are additional costs that represent record
retention and storage costs. Previously, the estimate included paper
storage costs, but firms no longer rely on paper storage to maintain
the majority of their records, therefore the Commission is removing the
costs for paper storage. For electronic storage, the Commission
estimates $10.00 per respondent annually. Total annual electronic
storage cost to industry ($10.00 x 51 respondents): $510. This
calculation estimates storage of 1GB per year at $10.00. We expect that
this estimate should continue to trend downward over time as the cost
of electronic storage technology, including cloud storage, continues to
decrease. For example, external hard drives of approximately 1,000 GB
are available for approximately $75. In addition, cloud storage plans
from multiple providers for 1TB of storage (with a reasonable amount of
requests and data transfers) are available for less than $7 per month.
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\4\ Internal analysis assumes 100% electronic storage.
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Comments: Comments are invited on: (1) whether the collections of
information are 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 estimates of the
burden and cost of the collections of information, including the
validity of the methodology and assumptions used; (3) ways to enhance
the quality, utility, and clarity of the information collections; and
(4) ways to minimize the burden of the collections of information on
those who are to respond, including the use of automated collection
techniques or other forms of information technology.
Dated: January 27, 2025.
Debbie-Anne A. Reese,
Secretary.
[FR Doc. 2025-02357 Filed 2-6-25; 8:45 am]
BILLING CODE 6717-01-P
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