18 Cfr 366.7

§ 366.6

18 CFR Ch. I (4–1–11 Edition)

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of its public utility revenues from outside a single state. A holding company
system or state commission may, pursuant to this subsection, seek a Commission determination that a holding
company’s public utility operations are
confined substantially to a single state
by filing a petition for declaratory
order pursuant to § 385.207(a) of this
chapter. Any holding company system
or state commission seeking such a determination shall bear the burden of
demonstrating that such determination is warranted.
(c) Other classes of transactions. Either
upon petition for declaratory order or
upon its own motion, the Commission
may exclude from the scope of Commission review and authorization
under paragraph (a) of this section any
class of transactions that the Commission finds is not relevant to the jurisdictional rates of a public utility. Any
holding company system or state commission seeking to obtain such a determination under this subsection shall
file a petition for declaratory order
pursuant to § 385.207(a) of this chapter.
Any holding company system or state
commission seeking such an exemption
shall bear the burden of demonstrating
that such an exemption is warranted.
(d) Nothing in paragraphs (a)–(c) of
this section shall affect the authority
of the Commission under the Federal
Power Act (16 U.S.C. 791 et seq.), the
Natural Gas Act (15 U.S.C. 717 et seq.),
or other applicable law, including the
authority of the Commission with respect to rates, charges, classifications,
rules, regulations, practices, contracts,
facilities, and services under the Federal Power Act and Natural Gas Act,
and with respect to access to books and
records under the Federal Power Act
and Natural Gas Act.
§ 366.6 Previously authorized activities.
(a) General. Unless otherwise provided by Commission rule or order, a
person may continue to engage in activities or transactions authorized
under the Public Utility Holding Company Act of 1935 prior to the effective
date of the Public Utility Holding
Company Act of 2005, February 8, 2006,
until the later of the date such authorization expires or December 31, 2007, so

long as that person continues to comply with the terms of such authorization. If any such activities or transactions are challenged in a formal
Commission proceeding, the person
claiming prior authorization shall be
required to provide at that time the
full text of any such authorization
(whether by rule, order, or letter) and
the application(s) or pleading(s) underlying such authorization (whether by
rule, order, or letter).
(b) Financing Authorizations. Holding
companies that intend to rely on financing authorization orders or letters
issued by the Securities and Exchange
Commission must file these orders or
letters with the Commission within 30
days after the effective date of the
Public Utility Holding Company Act of
2005, February 8, 2006; any reports or
other submissions that, pursuant to
such financing authorizations, previously were filed with the Securities
and Exchange Commission must instead be filed with the Commission, effective February 8, 2006. For the purposes of this section, compliance with
the terms of such financing authorizations includes the requirement to notify the Commission of any financing
transactions that a holding company
engages in pursuant to such financing
authorization.
§ 366.7 Procedures for obtaining exempt wholesale generator and foreign utility company status.
(a) Self-certification notice procedure.
An exempt wholesale generator or a
foreign utility company, or its representative, may file with the Commission a notice of self-certification demonstrating that it satisfies the definition of exempt wholesale generator or
foreign utility company (including
stating the location of its generation);
such notices of self-certification must
be
subscribed,
consistent
with
§ 385.2005(a) of this chapter, but need
not be verified. In the case of exempt
wholesale generators, the person filing
a notice of self-certification under this
section must also file a copy of the notice of self-certification with the state
regulatory authority of the state in
which the facility is located, and that
person must also represent to this
Commission in its submittal with this

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Federal Energy Regulatory Commission
Commission that it has filed a copy of
the notice of self-certification with the
state regulatory authority of the state
in which the facility is located. Notice
of the filing of a notice of self-certification will be published in the FEDERAL REGISTER. Persons that file a notice of self-certification must include a
form of notice suitable for publication
in the FEDERAL REGISTER in accordance
with
the
specifications
in
§ 385.203(d) of this chapter. A person filing a notice of self-certification in
good faith will be deemed to have temporary exempt wholesale generator or
foreign utility company status. If the
Commission takes no action within 60
days from the date of filing of the notice of self-certification, the self-certification shall be deemed to have been
granted; however, consistent with section 32(c) of the Public Utility Holding
Company Act of 1935 (15 U.S.C. 79z–5a
(c)) any self-certification of an exempt
wholesale generator may not become
effective until the relevant state commissions have made the determinations
provided for therein if such determinations are necessary (if such determinations are not necessary, the notice of
self-certification should state so). The
Commission may toll the 60-day period
to request additional information, or
for further consideration of the request; in such cases, the person’s exempt wholesale generator or foreign
utility company status will remain
temporary until such time as the Commission has determined whether to
grant or deny exempt wholesale generator or foreign utility company status;
however, consistent with section 32(c)
of the Public Utility Holding Company
Act of 1935 (15 U.S.C. 79z–5a (c)), any
self-certification of an exempt wholesale generator may not become effective until the relevant state commissions have made the determinations
provided for therein if such determinations are necessary (if such determinations are not necessary, the notice of
self-certification should state so). Authority to toll the 60-day period is delegated to the Secretary or the Secretary’s designee, and authority to act
on uncontested notices of self-certification is delegated to the General
Counsel or the General Counsel’s designee.

§ 366.7
(b) Optional procedure for Commission
determination of exempt wholesale generator status or foreign utility company status. A person may file for a Commission determination of exempt wholesale generator status or foreign utility
company status under § 366.1 by filing a
petition for declaratory order pursuant
to § 385.207(a) of this chapter, justifying
the request for such status; however,
consistent with section 32(c) of the
Public Utility Holding Company Act of
1935 (15 U.S.C. 79z–5a (c)), a Commission
determination of exempt wholesale
generator status may not become effective until the relevant state commissions have made the determinations
provided for therein if such determinations are necessary. (If such determinations are not necessary, the petition
for declaratory order should state so.)
Persons that file petitions must include a form of notice suitable for publication in the FEDERAL REGISTER in
accordance with the specifications in
§ 385.203(d) of this chapter.
(c) Procedure for notification of material change in facts. If there is any material change in facts that may affect
an exempt wholesale generator’s or a
foreign utility company’s status as an
exempt wholesale generator or a foreign utility company, the exempt
wholesale generator or foreign utility
company shall within 30 days of the
material change in facts:
(1) Submit a new notice of self-certification or a new petition for declaratory order, pursuant to paragraphs (a)
or (b) of this section, as appropriate;
(2) File a written explanation why
the material change in facts does not
affect its status; or
(3) Notify the Commission that it no
longer seeks to maintain its exempt
wholesale generator or foreign utility
company status.
(d) Revocation of status. (1) If an exempt wholesale generator or a foreign
utility company fails to conform to the
criteria for such status or fails to conform with any material facts or representations presented in its submittals to the Commission, the notice of
self-certification of the status of the
facility or Commission order certifying
the status of the facility may no longer
be relied upon.

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§ 366.21

18 CFR Ch. I (4–1–11 Edition)

(2) The Commission may, on its own
motion or on the complaint of any person, revoke the status of a facility or
company, if the facility or company
fails to conform to any of the criteria
under this part for such status.
(e) An exempt wholesale generator
shall not be subject to any requirements of this part other than § 366.7,
i.e., procedures for obtaining exempt
wholesale generator status. A foreign
utility company shall not be subject to
any requirements of this part other
than § 366.7, i.e., procedures for obtaining foreign utility company status.
[Order No. 667–A, 71 FR 28457, May 16, 2006, as
amended by Order 667–B, 71 FR 42756, July 28,
2006]

Subpart B—Accounting and Recordkeeping Under PUHCA
2005, the Federal Power Act
and the Natural Gas Act

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§ 366.21 Accounts and records of holding companies.
(a) General. Unless otherwise exempted or granted a waiver by Commission
rule or order pursuant to §§ 366.3 and
366.4, every holding company shall
maintain and make available to the
Commission books, accounts, memoranda, and other records of all of its
transactions in sufficient detail to permit
examination,
audit
and
verification of the financial statements, schedules and reports either required to be filed with the Commission
or issued to stockholders, as necessary
and appropriate for the protection of
utility customers with respect to jurisdictional rates.
(b) Unless otherwise exempted or
granted a waiver by Commission rule
or order pursuant to §§ 366.3 and 366.4,
beginning January 1, 2008, all holding
companies must comply with the Commission’s records retention requirements for holding companies and service companies as prescribed in part 368
of this chapter. Until December 31,
2007, holding companies registered
under the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a et seq.)
may follow either the Commission’s
records retention rules for public utilities and licensees or for natural gas
companies, as appropriate (parts 125

and 225 of this chapter), or the Securities and Exchange Commission’s record
retention rules in 17 CFR part 257.
(c) Nothing in this section shall relieve any company subject thereto
from compliance with the requirements as to recordkeeping and recordretention that may be prescribed by
any other regulatory agency.
[Order No. 667–A, 71 FR 28457, May 16, 2006, as
amended by Order 684, 71 FR 65226, Nov. 7,
2006]

§ 366.22 Accounts and records of service companies.
(a) Record-retention requirements—(1)
General. Unless otherwise exempted or
granted a waiver by Commission rule
or order pursuant to §§ 366.3 and 366.4,
beginning January 1, 2008, every service company must maintain and make
available to the Commission such
books, accounts, memoranda, and
other records in such manner and preserve them for such periods as the
Commission prescribes in part 368 of
this chapter, in sufficient detail to permit
examination,
audit,
and
verification, as necessary and appropriate for the protection of utility customers with respect to jurisdictional
rates.
(2) Transition period. Until December
31, 2007, service companies in holding
company systems registered under the
Public Utility Holding Company Act of
1935 (15 U.S.C. 79a et seq.) may follow either the Commission’s records retention requirements in parts 125 and 225
of this chapter or the Securities and
Exchange Commission’s records retention rules in 17 CFR part 257.
(3) Nothing in this section shall relieve any service company subject
thereto from compliance with requirements as to record-retention that may
be prescribed by any other regulatory
agency.
(b) Accounting requirements—(1) General. Unless otherwise exempted or
granted a waiver by Commission rule
or order pursuant to §§ 366.3 and 366.4,
beginning January 1, 2008, every centralized service company (See § 367.2 of
this chapter) must maintain and make
available to the Commission such
books, accounts, memoranda, and
other records as the Commission prescribes in part 367 of this chapter, in

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