Document ID: FERC-2009-1612-0001
Agency: ferc
Document Type: Rule
Title: Interest Rates for Refunds
Posted Date: 2009-10-22T04:00Z

[Federal Register: October 22, 2009 (Volume 74, Number 203)]
[Rules and Regulations]               
[Page 54462-54463]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22oc09-6]                         

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Part 35

[Docket No. RM09-24-000; Order No. 727]

 
Interest Rates for Refunds

Issued October 15, 2009.
AGENCY: Federal Energy Regulatory Commission, DOE.

ACTION: Final rule.

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SUMMARY: The Commission is revising its regulations governing the 
interest rates used in calculating refunds. Because the Federal Reserve 
no longer publishes Statistical Release G. 13, which was previously 
referenced in the Commission's regulations, and Statistical Release G. 
13 has been superseded by Statistical Release H. 15, this Final Rule 
revises the Commission's regulations to now reference the Federal 
Reserve's Statistical Release H. 15.

DATES: Effective Date: This rule is effective October 22, 2009.

FOR FURTHER INFORMATION CONTACT:

Rachel Spiker (Technical Information), Federal Energy Regulatory 
Commission, 888 First Street, NE., Washington, DC 20426, (202) 502-
8801, rachel.spiker@ferc.gov.
Moon Athwal (Legal Information), Federal Energy Regulatory Commission, 
888 First Street, NE., Washington, DC 20426, (202) 502-6272, 
moon.athwal@ferc.gov.

SUPPLEMENTARY INFORMATION:

Before Commissioners: Jon Wellinghoff, Chairman; Suedeen G. Kelly, 
Marc Spitzer, and Philip D. Moeller.

I. Discussion

    1. The Commission is revising its regulations governing the 
interest rates used in calculating refunds to reflect a change in the 
Federal Reserve's publications. Currently, the regulations reference 
the Federal Reserve's Statistical Release G. 13 for the calculation of 
the average prime rate for each calendar quarter used in determining 
refunds.\1\ The Federal Reserve no longer publishes Statistical Release 
G. 13, and Statistical Release G. 13 has been superseded by Statistical 
Release H. 15.\2\ Accordingly, this Final Rule revises the Commission's 
regulations to now refer to the Federal Reserve's Statistical Release 
H. 15. The methods for calculating refunds or for determining the 
applicable interest rates are not being altered in any way.
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    \1\ 18 CFR 35.19a(a)(2)(iii)(A)(2009).
    \2\ Federal Reserve, Discontinuance of the G.13 (Sept. 4, 2001), 
http://www.federalreserve.gov/releases/g13/g13note.htm.
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II. Information Collection Statement

    2. The Office of Management and Budget's (OMB) regulations require 
that OMB approve certain information collection requirements imposed by 
agency rule.\3\ This Final Rule does not contain information collection 
requirements and is not subject to OMB approval.
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    \3\ 5 CFR part 1320.
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III. Environmental Analysis

    3. The Commission is required to prepare an Environmental 
Assessment or an Environmental Impact Statement for any action that may 
have a significant adverse effect on the quality of the human 
environment.\4\ Issuance of this Final Rule does not represent a major 
federal action having a significant adverse effect on the quality of 
the human environment under the Commission's regulations implementing 
the National Environmental Policy Act of 1969. Part 380 of the 
Commission's regulations lists exemptions to the requirement to draft 
an Environmental Analysis or Environmental Impact Statement. Included 
is an exemption for

[[Page 54463]]

procedural, ministerial or internal administrative actions and 
management.\5\ This rulemaking is exempt under that provision.
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    \4\ Regulations Implementing the National Environmental Policy 
Act, Order No. 486, 52 FR 47897 (Dec. 17, 1987), FERC Stats. & Regs. 
] 30,783 (1987).
    \5\ 18 CFR 380.4(1).
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IV. Regulatory Flexibility Act

    4. The Regulatory Flexibility Act of 1980 (RFA) \6\ generally 
requires a description and analysis of final rules that will have 
significant economic impact on a substantial number of small entities. 
This final rule makes a ministerial correction to the regulations, 
correcting the reference to a Federal Reserve Statistical Release. The 
Commission certifies that it will not have a significant economic 
impact on a substantial number of small entities. An analysis under the 
RFA is not required.
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    \6\ 5 U.S.C. 601-12.
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V. Document Availability

    5. In addition to publishing the full text of this document in the 
Federal Register, the Commission provides all interested persons an 
opportunity to view and/or print the contents of this document via the 
Internet through the Commission's Home Page (http://www.ferc.gov) and 
in the Commission's Public Reference Room during normal business hours 
(8:30 a.m. to 5 p.m. Eastern time) at 888 First Street, NE., Room 2A, 
Washington, DC 20426.
    6. From the Commission's Home Page on the Internet, this 
information is available on eLibrary. The full text of this document is 
available on eLibrary in PDF and Microsoft Word format for viewing, 
printing, and/or downloading. To access this document in eLibrary, type 
the docket number excluding the last three digits of this document in 
the docket number field.
    7. User assistance is available for eLibrary and the Commission's 
website during normal business hours from FERC Online Support at 202-
502-6652 (toll free at 1-866-208-3676) or e-mail at 
ferconlinesupport@ferc.gov, or the Public Reference Room at (202) 502-
8371, TTY (202)502-8659. E-mail the Public Reference Room at 
public.referenceroom@ferc.gov.

VI. Effective Date

    8. These regulations are effective October 22, 2009. In accordance 
with 5 U.S.C. 553(d)(3), the Commission finds that good cause exists to 
make this Final Rule effective immediately. It corrects an out-of-date 
reference in the Commission's regulations to reflect a change in the 
Federal Reserve's Statistical Releases. It will not significantly and 
adversely affect persons appearing before the Commission. There is 
therefore no reason to make this rule effective at a later time.
    9. The Commission is issuing this rule as a Final Rule without a 
period for public comment. Under 5 U.S.C. 553(b), notice and comment 
procedures are unnecessary where a rulemaking concerns only agency 
procedure and practice, or where the agency finds that notice and 
comment are unnecessary.\7\ The Commission finds that notice and 
comment are unnecessary because the Commission is merely correcting a 
reference to a no longer published Federal Reserve Statistical Release. 
No new burden or regulatory requirement is imposed on regulated 
entities or the general public. Instead, this Final Rule merely updates 
an out-of-date reference in the Commission's regulations to reflect a 
change in the Federal Reserve's Statistical Releases.
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    \7\ We similarly find that this rule does not substantially 
affect the rights or obligations of parties to Commission 
proceedings, since it merely corrects a reference to a no longer 
published Federal Reserve Statistical Release, and otherwise does 
not change the methods for calculating refunds or for determining 
the applicable interest rates. See 5 U.S.C. 804(3)(C).
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List of Subjects in 18 CFR Part 35

    Electric power rates, Electric utilities, Reporting requirements.

By the Commission.
Kimberly D. Bose,
Secretary.

0
In consideration of the foregoing, the Commission amends part 35, 
Chapter I, Title 18, Code of Federal Regulations, as follows:

PART 35--FILING OF RATE SCHEDULES AND TARIFFS

0
1. The authority citation for part 35 continues to read as follows:

    Authority: 16 U.S.C. 791a-825r, 2601-2645; 31 U.S.C. 9701; 42 
U.S.C. 7101-7352.

Sec.  35.19  [Amended]

0
2. In Sec.  35.19a, paragraph (a)(2)(iii)(A) is amended to remove the 
phrase ``Statistical Release G. 13'' and to add the phrase 
``Statistical Release H. 15'' in its place.

[FR Doc. E9-25253 Filed 10-21-09; 8:45 am]

BILLING CODE 6717-01-P