OMB files this
comment in accordance with 5 CFR 1320.11(c) of the Paperwork
Reduction Act and is withholding approval of this collection at
this time. This OMB action is not an approval to conduct or sponsor
an information collection under the Paperwork Reduction Act of
1995. The agency shall examine public comment in response to the
Notice of Proposed Rulemaking and will include in the supporting
statement of the next ICR, to be submitted to OMB at the final rule
stage, a description of how the agency has responded to any public
comments on the ICR. This action has no effect on any current
approvals.
Inventory as of this Action
Requested
Previously Approved
02/29/2016
36 Months From Approved
02/29/2016
332
0
332
26,989
0
26,989
0
0
0
Under the Interstate Commerce Act
(ICA), (Section 20, 54 Stat. 916), the Commission is authorized and
empowered to make investigations and to collect and record data to
the extent the Commission may consider to be necessary or useful
for the purpose of carrying out the provisions of the ICA. The
information collected under the requirements of the Form 6 is used
by the Commission to carry out its responsibilities in implementing
the statutory provisions of the ICA, including the authority to
prescribe rules and regulations concerning accounts, records and
memoranda as necessary or appropriate. The Commission may prescribe
a system of accounts for jurisdictional companies and, after notice
and opportunity for hearing may determine the accounts in which
particular outlays and receipts will be entered, charged or
credited. 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 costs through rates, or to compare how
the financial performance and results of the operations of one
regulated entity relates to another. The Form 6 also assists the
Commission in overseeing and policing the regulated oil pipeline
markets to assist in enforcing the ICA. FERC proposes to modify
Page 700 of FERC Form No. 6 (Form 6) to facilitate the calculation
of a pipeline's actual return on equity. The Commission proposes to
expand the information provided regarding rate base (line 5), rate
of return (line 6), return on rate base (line 7), and income tax
allowance (line 8). The proposed modifications will facilitate the
calculation of the actual rate of return on equity based upon Page
700 data. The actual rate of return on equity is particularly
useful information when using Page 700 to evaluate a pipeline's
rates. The additional information proposed to be reported will
impose almost no additional burden on oil pipelines because
pipelines already must develop cost of service supporting
calculations to determine the Income Tax Allowance, Rate Base, Rate
of Return, and Return on Rate Base reported on Page 700. Given
these existing requirements, the Commission does not anticipate
that these proposed additions to Page 700 of Form 6 will impose a
significant burden on oil pipelines.
US Code:
49 USC
20 Name of Law: Interstate Commerce Act
The increase is due to the
additional time necessary to report the additional data on page
700. The increase is minimal because the respondents should already
have the required data on hand.
$75,358
No
No
No
No
No
Uncollected
Brian Holmes 202
219-2618
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.
Form Form 6 (with old p FERC Form 6, Annual Report of Oil Pipeline Companies
FINAL RM12-18 (FERC-6) Supporting Statement.docx
CFR-2012-title18-vol1-sec357-2.pdf
FERC Form 6, Annual Report of Oil Pipeline Companies