18 Cfr 366.7

Federal Energy Regulatory Commission
(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
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 fil-

§ 366.7
ing 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.
(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

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§ 366.21

18 CFR Ch. I (4–1–14 Edition)

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.
(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
§ 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]

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