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OMB Control No: 1902-0098	ICR Reference No: 201604-1902-004
Status: Historical Active	Previous ICR Reference No: 201312-1902-003
Agency/Subagency: FERC	Agency Tracking No: FERC-555
Title: FERC-555, (Final Policy Statement in PL15-3) Preservation of Records for Public Utilities and Licensees, Natural Gas and Oil Pipeline Companies.
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/16/2016
	Date Received in OIRA: 05/26/2016
Terms of Clearance: In accordance with 5 CFR 1320, the information collection is approved for 3 years.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2019	36 Months From Approved	05/31/2017
Responses	509	0	509
Time Burden (Hours)	2,656,034	0	2,655,962
Cost Burden (Dollars)	78,242,971	0	78,242,971

Abstract: FERC's records retention regulations cover records maintained by public utilities and licensees, natural gas and oil pipeline companies. These records serve as the basis for required rate filings and reports submitted to FERC. The records are retained in order to be reviewed by FERC staff during compliance reviews, audits, special analyses performed as deemed necessary by FERC, and serve as a basis in complaint proceedings. FERC issues this Policy Statement (in Docket PL15-3) to provide guidance regarding future implementation of hold harmless commitments offered by applicants as ratepayer protection mechanisms to mitigate adverse effects on rates that may result from transactions that are subject to section 203 of the Federal Power Act (FPA).

Authorizing Statute(s): US Code: 15 USC 717-717w, Sec. 8, 10, 16 Name of Law: Natural Gas Act
   US Code: 49 USC 60502 Name of Law: Interstate Commerce Act
   US Code: 16 USC 792-828o, Sec. 301, 304, 309 Name of Law: Federal Power Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 4231	01/27/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 33502	05/26/2016
Did the Agency receive public comments on this ICR? No

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
FERC-555, Preservation of Records for Public Utilities and Licensees, Natural Gas and Oil Pipeline Companies.

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	509	509	0
Annual Time Burden (Hours)	2,656,034	2,655,962	72
Annual Cost Burden (Dollars)	78,242,971	78,242,971	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Commission adopts the following policies regarding future implementation of hold harmless commitments offered by applicants as ratepayer protection mechanisms to mitigate adverse effects on rates that may result from transactions subject to section 203 of the Federal Power Act (FPA). First, the Commission clarifies the scope and definition of the costs that should be subject to hold harmless commitments. Second, the Commission adopts the proposal that applicants offering hold harmless commitments should implement controls and procedures to track the costs from which customers will be held harmless. The Commission identifies the types of controls and procedures that applicants offering hold harmless commitments should implement. Third, the Commission declines to adopt its proposal to no longer accept hold harmless commitments that are limited in duration. Fourth, the Commission clarifies that, in connection with certain types of FPA section 203 transactions, an applicant may be able to demonstrate that the transaction will not have an adverse effect on rates without the need to make any hold harmless commitment. The majority of the current estimated OMB-approved burdens for FERC-516, -519, and -555 are not affected by the Policy Statement in PL15-3.FERC-555. We estimate an additional 4 hours of burden per year related to FERC-555 records retention requirements for 18 of the respondents. The number of responses and respondents are not changing.

Annual Cost to Federal Government: $10,765,411

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

Agency Contact: Eric Olesh 202 502-6524 eric.olesh@ferc.gov

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