Michigan Administrative Code › Department - Licensing and Regulatory Affairs › Public Service Commission › Uniform System of Accounts for Major and Nonmajor Electric Utilities › Section R. 460.9002 - Adoption by reference of federal standards

Current through Vol. 24-12, July 15, 2024
Rule 1.
(1) The
				federal uniform system of accounts for major and nonmajor electric utilities
				promulgated by the United States federal energy regulatory commission and
				codified at 18 CFR Part 101, as amended through April 1, 2010, is adopted by
				reference in these rules as of January 1, 2011. The rules are prescribed for
				the use of all electric utilities under the jurisdiction of the Michigan public
				service commission, subject to the following exceptions and conditions unless
				otherwise ordered by the Michigan public service commission:
(a) All orders and practices of the Michigan
				public service commission in effect as of the effective date of this rule with
				accounting impacts that conflict with provisions of the uniform system of
				accounts for major and nonmajor electric utilities at the request of or
				affecting each specific utility shall remain in effect, and future orders and
				practices with such impacts shall supersede the provisions of the uniform
				system of accounts for major and nonmajor electric utilities for Michigan
				retail jurisdictional purposes.
(b)
				All references to federal statutes, federal regulations, and other federal
				documents are inapplicable where they are not applicable to the jurisdiction
				exercised by the Michigan public service commission.
(c) Nothing in these rules shall affect the
				validity of accounting practices approved in Michigan public service commission
				orders issued prior to the effective date of these rules. Utilities subject to
				any such orders may conform the related accounts to the updated accounts
				adopted by these rules, with notice to the commission.
(d) The Michigan public service commission
				may authorize electric utilities to utilize account numbers not listed in the
				federal energy regulatory commission's uniform system of accounts for major and
				nonmajor electric utilities.
(e)
				The electric utilities under the jurisdiction of the Michigan public service
				commission shall apply to the Michigan public service commission for Michigan
				retail jurisdictional use of the following accounts:
(i) Account 182.1 - Extraordinary property
				losses.
(ii) Account 182.2 -
				Unrecovered plant and regulatory study costs.
(iii) Account 182.3 - Other regulatory
				assets.
(iv) Account 254 - Other
				regulatory liabilities.
(v) Account
				407 - Amortization of property losses, unrecovered plant and regulatory study
				costs.
(vi) Account 407.3 -
				Regulatory debits.
(vii) Account
				407.4 - Regulatory credits.
(f) In addition to the accounts listed in 18
				CFR Part 101 (2010), the following accounts shall be adopted in order to
				maintain consistency with accounts previously required by the Michigan public
				service commission:
(i) Account 246 - Federal
				income taxes accrued for prior years.
(ii) Account 246.1 - State and local taxes
				accrued for prior years.
(iii)
				Account 247 - Federal income taxes accrued for prior years -
				adjustments.
(iv) Account 247.1 -
				State and local taxes accrued for prior years - adjustments.