FERC Form No. 60 (Annual Reports Of Centralized Service Cos.), FERC-61 (Narrative Description Of Service Co.Functions), & FERC-555A (Preservation of Records Companies & Service Cos. Subject to PUHCA)
ICR 201904-1902-002
OMB: 1902-0215
Federal Form Document
⚠️ Notice: This information collection may be outdated. More recent filings for OMB 1902-0215 can be found here:
FERC Form No. 60 (Annual
Reports Of Centralized Service Cos.), FERC-61 (Narrative
Description Of Service Co.Functions), & FERC-555A (Preservation
of Records Companies & Service Cos. Subject to PUHCA)
Extension without change of a currently approved collection
In accordance
with 5 CFR 1320, the information collection is approved for three
years.
Inventory as of this Action
Requested
Previously Approved
01/31/2023
36 Months From Approved
01/31/2020
234
0
239
129,324
0
110,975
47,133
0
40,289
FERC Form No. 60. FERC Form No. 60 is
an annual reporting requirement for centralized service companies.
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
Commission rule 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 the Commission’s regulations and would not have
to file FERC Form No. 60. Instead, those service companies are
required to file, on an annual basis, the FERC-61, which is a
narrative description of the service company’s functions during the
prior calendar year. 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 requirements for holding companies and
service companies (unless otherwise exempted by the Commission).
This requires them to maintain and make available to the Commission
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. Data from the
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
reviews and special analyses. If data from the FERC Form No. 60,
FERC-61, and FERC-555A were not available, it would be difficult
for the Commission to meet its mandatory review responsibilities
because it would have fewer of the regulatory mechanisms needed to
ensure transparency and to protect ratepayers.
There are no changes to the
reporting requirement. There are adjustments to the no. of
responses and resulting burden for both FERC-61 and FERC-555A, as
noted below. -The FERC Form No. 60 reporting burden remains
unchanged. -The FERC-61 reporting burden experienced a reduction of
22 responses annually based on fluctuations in market activity. The
hourly burden per response remains unchanged. Overall, FERC-61
reporting burden decreased by 11 hours annually. -The FERC-555A
reporting burden experienced an increase of 17 responses annually
also based on activity within industry. The hourly burden per
response remains unchanged. Overall, FERC-555A reporting burden
increased by 18,360 hours annually.
$103,823
No
No
No
No
No
No
Uncollected
Donald Callow 202
502-8838
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.
PL 109-58 (EPAct 2005).pdf
60_61_555A_OMB Qs_supp state_1902-2015 ICR.docx
FERC-61, Narrative Description of Service Company Functions