[Federal Register Volume 84, Number 42 (Monday, March 4, 2019)]
[Rules and Regulations]
[Pages 7274-7283]
[FR Doc No: 2019-03419]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Parts 45 and 46

[Docket No. RM18-15-000; Order No. 856]

Interlocking Officers and Directors; Requirements for Applicants
and Holders

AGENCY: Federal Energy Regulatory Commission, DOE.

ACTION: Final rule.

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SUMMARY: In this final rule, the Federal Energy Regulatory Commission
(Commission) amends its regulations related to interlocking officers
and directors to clarify and update the requirements for both
applicants and holders.

DATES: This rule will become effective May 3, 2019.

FOR FURTHER INFORMATION CONTACT:
    Lindsay Orphanides (Technical Information), Office of Energy Market
Regulation, Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426,<PHONE_NUMBER><EMAIL_ADDRESS>    Mary Ellen Stefanou (Legal Information), Office of the General
Counsel, Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426,<PHONE_NUMBER><EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. Background

    1. On July 19, 2018, the Commission issued a Notice of Proposed
Rulemaking (NOPR),\1\ proposing to revise parts 45 and 46 of the
Commission's regulations related to interlocking officers and directors
to clarify and update the requirements for both applicants and holders.
The Commission proposed to: (1) Update its regulations to reflect
statutory changes to the circumstances in which an applicant who would
otherwise require Commission authorization to hold an interlocking
position need not do so; (2) revise its regulations to clarify its
position on late-filed applications and informational reports; (3)
revise its regulations to clarify that an interlock holder is not
required to file a notice of change when merely changing positions
within a holding company; (4) revise its regulations to state that
applicants do not need to list in their applications public utilities
that do not have officers or directors; (5) revise its regulations with
regard to public utilities owned by a natural person; and (6) update
its regulations to remove Sec.  46.2(b), which contains definitions and
phrases now rendered obsolete.
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    \1\ Revisions to Parts 45 and 46 of the Commission's
Regulations, Notice of Proposed Rulemaking, 83 FR 37450 (Aug. 1,
2018), 164 FERC ] 61,032 (2018) (NOPR).
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    2. Comments were filed by Edison Electric Institute (EEI), NRG
Power Marketing LLC (NRG), Just Energy (U.S.) Corp. (Just Energy),
Electric Power Supply Association (EPSA), National Rural Electric
Cooperative Association (NRECA), National Grid USA (National Grid), and
Golden Spread Electric Cooperative, Inc. (Golden Spread). All comments
were generally supportive of the proposed changes. Some commenters
requested clarification on certain proposed changes, while others
proposed additional changes. We address these issues below.

II. Discussion

A. No Need for Commission Approval of Interlocking Director and Officer
Positions in Certain Circumstances

1. Proposal
    3. Section 45.2 of the Commission's regulations describes the types
of interlocking positions that require Commission authorization,
including those between a public utility and entities authorized by law
to underwrite or participate in the marketing of public utility
securities.\2\ However, in 1999, Congress amended Federal Power Act

(FPA) section 305(b)(2) to provide that an applicant for certain
interlocking positions is no longer required to obtain Commission
authorization to hold such positions.\3\ In the NOPR, the Commission
proposed to revise Sec.  45.2 of its regulations to add that an
applicant for an interlocking position between a public utility and a
``bank, trust company, banking association, or firm that is authorized
by law to underwrite or participate in the marketing of public utility
securities,'' \4\ does not need Commission authorization when:
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    \2\ 18 CFR 45.2(b)(2).
    \3\ See Public Law 106-102, sec. 737, 113 Stat. 1338, 1479
(1999).
    \4\ 18 CFR 45.2(b)(2).
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     The person does not participate in any deliberations or
decisions of the public utility regarding the selection of the bank,
trust company, banking association, or firm to underwrite or
participate in the marketing of securities of the public utility, if
the person serves as an officer or director of a bank, trust company,
banking association, or firm that is under consideration in the
deliberation process;
     the bank, trust company, banking association, or firm of
which the person is an officer or director does not engage in the
underwriting of, or participate in the marketing of, securities of the
public utility of which the person holds the position of officer or
director;
     the public utility for which he/she serves or proposes to
serve as an officer or director selects underwriters by competitive
procedures; or
     the issuance of securities of the public utility for which
the person serves or proposes to serve as an officer or director has
been approved by all Federal and State regulatory agencies having
jurisdiction over the issuance.\5\
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    \5\ NOPR, 164 FERC ] 61,032 at P 6. See also 16 U.S.C.
825d(b)(2).
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2. Comments
    4. EEI, Golden Spread, Just Energy, and NRECA all support the
Commission's proposed revision to Sec.  45.2 of its regulations.
    5. Golden Spread states in its comments that it is unclear from the
NOPR if the Commission will require continued reporting of interlocking
positions between a public utility and a bank, trust company, banking
association, or firm that is authorized by law to underwrite or
participate in the marketing of public utility securities in Form No.
561. If not, Golden Spread states that the Commission may wish to cross
reference to Sec.  45.2 or clarify Sec.  46.5 of its regulations.\6\
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    \6\ Golden Spread Comments at 3.
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3. Commission Determination
    6. We will revise the language in Sec.  45.2 as proposed in the
NOPR, which brings the Commission's regulations into conformance with
the changes made by Congress to FPA section 305(b)(2) in 1999.
    7. In response to Golden Spread's comments, we clarify that the
Commission will continue to require the reporting of interlocking
positions between a public utility and a bank, trust company, banking
association, or firm that is authorized by law to underwrite or
participate in the marketing of public utility securities in Form No.
561 under Sec.  46.5 of the Commission's regulations as the statutory
directive to report such information has not changed.\7\
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    \7\ See 16 U.S.C. 825d(c)(1), (2)(a).
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B. Flexibility To Consider Late-Filed Applications and Informational
Reports

1. Proposal
    8. The Commission proposed in the NOPR to revise Sec.  45.3(a) of
its regulations, which currently states that ``late-filed applications
will be denied'' and Sec.  45.9(b), which currently states that
``[f]ailure to timely file the informational report will constitute a
failure to satisfy this condition and will constitute automatic
denial.'' The Commission stated that it expects its regulations to be
followed but recognizes that good faith errors and oversights may
occasionally result in the inadvertent violation of the timing of FPA
section 305(b)'s filing requirements. In addition, the Commission
stated that it expects applicants to be attentive to their obligation
to timely file for the required authorizations and make every effort to
ensure they act in accordance with the statutory directives in FPA
section 305(b). Further, the Commission stated that, if an error or
oversight occurs, it expects that those errors and oversights will be
expeditiously identified and rectified, and applications to hold
interlocking director positions be promptly filed. Therefore, the
Commission proposed to delete the above-quoted language, and replace it
with language providing for consideration of late-filed applications
for interlocking positions on a case-by-case basis.\8\
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    \8\ NOPR, 164 FERC ] 61,032 at PP 7-9.
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2. Comments
    9. EEI, Golden Spread, Just Energy, National Grid, NRECA, and NRG
all support the Commission's proposed changes to Sec. Sec.  45.3(a) and
45.9(b). EEI takes issue with the Commission's statement in the NOPR
preamble that, ``[i]n cases where occasional errors and oversights
occur, the Commission expects that those errors and oversights will be
expeditiously identified and rectified, and applications to hold
interlocking director positions promptly filed.'' \9\ To avoid
``misinterpretation,'' EEI encourages the Commission to restate the
quoted provision to say: ``When errors and oversights are discovered,
the Commission expects that those errors and oversights will be
expeditiously rectified, and if required applications will be promptly
filed.'' \10\
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    \9\ EEI Comments at 4 (quoting NOPR, 164 FERC ] 61,032 at P 9).
    \10\ Id.
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3. Commission Determination
    10. We adopt the changes to Sec. Sec.  45.3(a) and 45.9(b) of the
Commission's regulations proposed in the NOPR that will allow for
consideration of late-filed applications for interlocking positions on
a case-by-case basis.\11\ We do not think that it is in the public
interest to deny otherwise-qualified applicants' late-filed
applications and informational filings made under these regulations
when the late filing is due solely to good faith errors and oversights,
and the error or oversight is promptly identified and expeditiously
rectified.
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    \11\ We note that the public utilities whose officers and
directors are subject to the statutory directive in section 305(b)
to file, as regulated entities themselves subject to the
requirements of the FPA, and should make every effort to ensure that
their officers and directors, in turn, act in accordance with the
statutory directives in FPA section 305(b).
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    11. We decline to amend our statement in the NOPR preamble to state
that the Commission's expectation is that errors and oversights be
expeditiously rectified ``when errors and oversights are discovered,''
as suggested by EEI. We expect that errors and oversights be both
promptly identified and expeditiously rectified, and we reiterate our
expectation--grounded in the statute \12\--that applicants be attentive
to their obligation to timely file for the required authorizations and
thus make every effort to ensure that they act in accordance with the
statutory directives in FPA section 305(b). The Commission would look
unfavorably on FPA section 305(b) applications where an applicant has
not been properly attentive to his/her obligation to file for the
required authorization.
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    \12\ 16 U.S.C. 825d(b)(1).

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C. Supplemental Applications or Notices of Change for Positions Pre-
Authorized Under Sec.  45.9

1. Proposal
    12. The Commission proposed in the NOPR to revise Sec. Sec.  45.4
and 45.5 of its regulations to clarify that supplemental applications
and notices of change need not be filed in the case of a person already
authorized to hold interlocks identified in Sec.  45.9(a) who may
assume new or different positions that are still among those identified
by Sec.  45.9(a). The Commission stated that such changes in positions
among related public utilities are already reported in the annual Form
No. 561s, and separate filings under Sec.  45.4 or Sec.  45.5 are
unnecessary. The NOPR specifically stated that the holder of
interlocking officer and director positions must file a notice of
change when he/she no longer holds any interlocking positions within
the scope of the statute and regulations because no longer holding any
interlocking positions would constitute a ``material or substantial
change.'' \13\
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    \13\ NOPR, 164 FERC ] 61,032 at P 10.
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2. Comments
    13. EEI, Golden Spread, Just Energy, National Grid, NRECA, and NRG
all support the Commission's proposed revisions to Sec. Sec.  45.4 and
45.5.
    14. EEI asks the Commission to add two points to its proposal to
revise Sec. Sec.  45.4 and 45.5. First, EEI asks for clarification that
the Commission ``means a notice is required only when the officer or
director resigns or withdraws from all pre-authorized interlocking
officer and director positions, not just from one such position, as
that would comport with the logic of the changes the Commission is
adopting as to subsection 45.5(b).'' \14\ EEI asserts that ``the
Commission should specify that public utility officers and directors
who are pre-approved under the holding company provisions at subsection
45.9(a) do not need to file `notice of change' reports when they
resign, but rather can rely on updates to their annual filings by
removing the companies from which they have resigned during the
previous year.'' \15\
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    \14\ EEI Comments at 7.
    \15\ Id. at 9-10.
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    15. Second, EEI also asks the Commission to specify that Sec.
45.9(c) does not require an additional informational report in the case
of new or different interlocking positions within a holding company
system for an individual that has already filed a Sec.  45.9
informational report.\16\ EEI asserts that existing public utility
officers and directors pre-approved under Sec.  45.9(a) are not
applicants as that term is used in Sec.  45.5; therefore, they are not
required to file applications at the Commission, only informational
reports.\17\
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    \16\ Id. at 7.
    \17\ Id. at 10.
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    16. Golden Spread asks the Commission to consider making an
additional edit to Sec.  45.5(b) to change the requirement for filing a
notice of change (e.g., for a withdrawal, or failure of reelection or
appointment) from a ``within 30 days'' requirement to a ``within 60
days'' requirement, stating that even when good faith efforts are made
to learn of changes from affected officers and directors, it can take
beyond a full month to learn of changes.\18\
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    \18\ Golden Spread Comments at 4.
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    17. Just Energy recommends the Commission adopt a number of
clarifying edits to Sec. Sec.  45.4(c) and 45.9(a)(3) and (b). In Sec.
45.4(c), Just Energy proposes that the Commission describe interlocking
positions that ``qualify for automatic authorization pursuant'' to
Sec.  45.9(a), as opposed to positions that ``are identified'' in Sec.
45.9(a). Just Energy suggests that, in Sec.  45.9(a)(3), the Commission
authorize interlocking positions of an officer or director of more than
one public utility where such officer or director is already authorized
under this part to hold positions as officer or director of those ``or
any other public utilities'' where the interlock involves affiliated
public utilities. Just Energy's proposed amendment to Sec.  45.9(b)
would create a new paragraph (b)(2) that states that a person is
``exempt from filing an informational report pursuant to [section]
45.4.''
    18. Just Energy also states that it supports the proposal that
officers and directors do not need to file a notice of change when they
leave some but not other positions within a corporate family, and
instead report interlock changes among affiliates in the applicable
Form No. 561. Just Energy accordingly recommends additional amendments
to amended Sec.  45.5(b) to state that a notice of change under this
section would not be required if the only change to be reported is ``a
resignation or withdrawal from fewer than all positions held between or
among affiliated public utilities, a reelection or reappointment to a
position that was previously authorized,'' or holding a different or
additional interlocking position ``that would qualify for automatic
authorization pursuant to'' Sec.  45.9(a). Just Energy states that its
proposed amendments address the Commission's clarification regarding
partial resignations and harmonize Sec.  45.5 with the proposed
amendments regarding appointments with affiliated entities.\19\
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    \19\ Just Energy Comments at 6-7.
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3. Commission Determination
    19. We adopt the NOPR's proposed revisions to Sec. Sec.  45.4 and
45.5 of the Commission's regulations to state that supplemental
applications and notices of change need not be filed in the case of a
person already authorized to hold interlocks identified in Sec.
45.9(a) who may assume new or different positions that are still among
those identified by Sec.  45.9(a), with certain clarifications and
amendments discussed below.
    20. In response to EEI, we clarify that the change to Sec.  45.5(b)
adopted in this final rule means that, in the case of interlocking
positions that are identified in Sec.  45.9(a), a notice of change now
need only be filed when the officer or director resigns or withdraws as
an officer or director from all previously held interlocking officer
and director positions. When he/she resigns from only one position out
of several interlocking positions for which he/she received
authorization pursuant to Sec.  45.9, he/she need only include this
information in the annual Form No. 561.
    21. We also clarify in response to EEI that Sec.  45.9(c) does not
require an additional informational report when an officer or director
has a new or different interlocking position within a holding company
system compared to what was reported when he/she originally filed an
informational report under Sec.  45.9. Instead, he/she need only
include the new or different interlocking position(s) in the annual
Form No. 561.
    22. We agree with Golden Spread's proposal to alter the timing of
the notice of change filing requirement from 30 days to within 60 days
of the triggering event. We think this change is reasonable because 30
days may be too short a period to comply with the regulation, and
allowing for 60 days may result in more accurate filings. We therefore
amend Sec.  45.5(b) to state that the filing of a notice of change
shall be made within 60 days.
    23. We adopt Just Energy's proposed amendments to Sec. Sec.
45.4(c), 45.9(a)(3) and (b), and 45.5(b). We find that the amendments
proposed by Just Energy more clearly state the revisions adopted by
this final rule.

D. Public Utilities Within a Holding Company That Do Not Have Directors
and Officers

1. Proposal
    24. In the NOPR, the Commission recognized the growing complexity
of corporate structures. Thus, the Commission proposed to revise Sec.
45.8(c)(1) of its regulations to state that applicants under part 45 do
not need to list in their applications those public utilities that do
not have officers or directors.\20\
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    \20\ NOPR, 164 FERC ] 61,032 at P 11.
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2. Comments
    25. EEI, Golden Spread, and NRG support the Commission's proposed
revision to Sec.  45.8(c)(1). Golden Spread ``agrees that if such
structures exist and do not have officers and directors, such
information would be extraneous.'' \21\ NRECA states that it has no
position on the Commission's proposal; it acknowledges the growing
complexity of corporate structures ``but does not appreciate why that
trend warrants reducing the information in these applications.'' \22\
NRECA requests that the Commission explain in more detail the
regulatory burden that will be relieved and the information that will
be lost by the proposed change.\23\
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    \21\ Golden Spread Comments at 4.
    \22\ NRECA Comments at 2.
    \23\ Id.
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3. Commission Determination
    26. We adopt the NOPR's proposed revisions to Sec.  45.8(c)(1) of
the Commission's regulations to state that applicants under part 45 do
not need to list in their applications those public utilities that do
not have officers or directors. While we are not aware of any
applications that have been filed where a company does not have any
officers or any directors, we understand from EEI that such companies
do exist.\24\
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    \24\ See Edison Electric Institute Comments, Docket No. AD12-6-
002 (Nov. 28, 2016).
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    27. In response to Golden Spread and NRECA, we are not aware that
any material information would be lost by making this change. We expect
the universe of companies that do not have any officers or directors to
be small, as it is still atypical for a company to have neither
officers nor directors. We also note that, under Sec.  45.2(a), the
obligation to make the appropriate filings extends to any person
elected or appointed to perform executive duties or functions similar
to those ordinarily performed by presidents, vice presidents, directors
and others.\25\ This pre-existing requirement, which the Commission has
not proposed to change, should ensure that the change adopted above
will not materially affect the Commission's oversight of jurisdictional
interlocking positions.
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    \25\ 18 CFR 45.2(a).
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E. Corporate Relationships Within the Scope of Automatic Authorizations

1. Proposal
    28. In the NOPR, the Commission proposed to revise Sec.  45.9 of
its regulations to add the word ``person'' when defining the corporate
relationships within the scope of the automatic authorizations
addressed in Sec.  45.9. The Commission recognized that public
utilities can be owned not just by a corporate entity but by a natural
person, and that the regulations should reflect this possibility.\26\
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    \26\ NOPR, 164 FERC ] 61,032 at P 12.
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2. Comments
    29. EEI, Golden Spread, and NRECA support the Commission's proposed
revision to Sec.  45.9. Golden Spread adds that it thinks this proposed
change does not apply to cooperative governance structures.
3. Commission Determination
    30. We adopt the proposed revision to Sec.  45.9 of the
Commission's regulations to add the word ``person'' when defining the
corporate relationships within the scope of the automatic
authorizations addressed in Sec.  45.9. Given that some public
utilities can be and are now owned by natural persons, a change in the
regulations to reflect this development is warranted.\27\
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    \27\ In response to Golden Spread, we do not envision a
cooperative governance structure where a rural electric cooperative
is owned by its customers/ratepayers to fall within the scope of
this rule. See generally Wolverine Power Supply Cooperative, Inc.,
93 FERC ] 61,328, at 62,119 (2000), reh'g denied, 94 FERC ] 61,178,
at 61,616 (2001).
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F. Removal of Sec.  46.2(b)

1. Proposal
    31. The Commission proposed in the NOPR to update its regulations
in part 46 to remove Sec.  46.2(b), because the definitions were
rendered obsolete as a result of the enactment of the Energy Policy Act
of 2005 and the concurrent repeal of the Public Utility Holding Company
Act of 1935 (PUHCA 1935).\28\ The Commission noted in the NOPR that
Sec.  46.2(b) currently references the definition of ``holding company
system'' and ``registered holding company system'' in PUHCA 1935.\29\
However, the Energy Policy Act of 2005 repealed PUHCA 1935.\30\ Thus,
the Commission proposed to remove Sec.  46.2(b). The Commission also
proposed to update part 46 to change ``Rural Electrification
Administration'' to ``Rural Utilities Service'' to reflect the name
change of that organization.\31\
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    \28\ See Public Law 109-58, sec. 1261-77, 119 Stat. 594, 972-78
(2005).
    \29\ 16 U.S.C. 79a et seq.
    \30\ Public Law 109-58, sec.1263, 119 Stat. 594, 974 (2005).
    \31\ NOPR, 164 FERC ] 61,032 at P 13.
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2. Comments
    32. EEI, Golden Spread, and NRECA all support the removal of Sec.
46.2(b) and the update of part 46 to change ``Rural Electrification
Administration'' to ``Rural Utilities Service.''
3. Commission Determination
    33. We adopt the proposed removal of Sec.  46.2(b) from the
Commission's regulations, as it is now outdated, and we update part 46
of the Commission's regulations to change ``Rural Electrification
Administration'' to ``Rural Utilities Service'' to reflect the change
in name of that organization.

G. Additional Issues Raised by Commenters

1. Amending Sec.  45.1(a)(3)
a. Comments
    34. EEI requests that the Commission amend Sec.  45.1(a)(3) of its
regulations by changing the closing phrase ``a public utility'' to
``such public utility,'' as stated in the opening sentence of FPA
section 305(b)(1). EEI asserts that this change to the regulations
would align the regulations with the statute, and it would recognize
that Congress intended to require approval for interlocking director
and officer positions between a utility and an electrical supplier only
when the supplier supplies equipment to the utility involved, not just
to other utilities. EEI also states that this change also would conform
the part 45 regulations with one another.\32\
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    \32\ EEI Comments at 9.
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b. Commission Determination
    35. We adopt EEI's suggested amendment to Sec.  45.1(a)(3) of the
Commission's regulations by changing the closing phrase ``a public
utility'' to ``such public utility.'' We agree with EEI that this
change will better align the regulations with the statute, and
recognize that Congress intended to require approval for interlocking
director and officer positions between a utility and an electrical
supplier only when the supplier supplies electrical equipment to the
utility involved, and not just to any utility.

2. Definition of Electrical Equipment
a. Comments
    36. EEI asks the Commission to modify its current definition of
``electrical equipment.'' EEI asserts that the definition of electrical
equipment has been inappropriately construed too broadly in some cases.
EEI requests that the Commission delete from the current Sec.  46.2(f)
definition the footnoted cross-reference to the Uniform System of
Accounts and clarify that the definition applies to both parts 45 and
46 of the Commission's regulations. EEI asserts that the current
definition found in Sec.  46.2(f) is straightforward,\33\ and that the
cross-reference to the Uniform System of Accounts has resulted in the
term electrical equipment being defined to include common business
equipment such as computers, calculators, and sprinklers.\34\
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    \33\ Id. at 11 (citing 18 CFR 46.2(f)).
    \34\ Id.
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b. Commission Determination
    37. We decline to delete from the current Sec.  46.2(f) definition
of electrical equipment the footnoted cross-reference to the Uniform
System of Accounts. We disagree that the cross-reference to the Uniform
System of Accounts results in a definition of electrical equipment that
is too broad. In this regard, we note that, in establishing the
definition of electrical equipment in Sec.  46.2(f), the Commission
stated that the footnoted reference to the Commission's Uniform System
of Accounts was ``a guide only,'' acknowledging that certain items
found in the accounts listed are clearly not ``electrical equipment''
within the scope of Sec.  46.2(f).\35\ We find that the footnoted
reference to the Uniform System of Accounts continues to provide useful
guidance to aid the industry as well as the Commission in determining
what does and does not constitute electrical equipment under part 46,
and thus should be retained.
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    \35\ Public Utility Filing Requirement and Requirements for
Persons Holding Interlocking Positions; Order Issuing Final
Regulations, 45 FR 23413, at 23415-16 (Apr. 7, 1980), FERC Stats. &
Regs. ] 30,140, at 30,984 (1980).
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    38. We do clarify that, as necessary, the Commission, in evaluating
applications and reporting under part 45, will continue to look to
Sec.  46.2(f) and the footnoted reference to the Uniform System of
Accounts for guidance in determining what constitutes electrical
equipment under part 45.\36\
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    \36\ See, e.g., Barry Lawson Williams, 134 FERC ] 61,183, at P
10 (2011).
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3. Blanket Authorizations for Companies Without Captive Customers
a. Comments
    39. EEI, EPSA, Just Energy, and NRG ask the Commission to create a
blanket authorization for interlock holders at companies within holding
company systems without captive customers.
i. EEI
    40. EEI requests that the Commission revisit the need for
interlocking directorate applications and reporting to cover officers
and directors who hold positions involving, within a holding company
system, multiple companies that do not have captive customers, such as
exempt wholesale generators and qualifying facilities, or positions
involving such companies and their securities underwriters \37\ or
their electrical equipment suppliers.\38\
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    \37\ But see 16 U.S.C. 825d(b)(2).
    \38\ EEI Comments at 10.
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ii. EPSA
    41. EPSA requests that the Commission consider granting a blanket
authorization to public utilities without any captive customers, to
allow individuals to concurrently hold positions as an officer or
director of more than one public utility within the corporate holding
company, or positions of officer or director of a public utility and a
company supplying electrical equipment to a public utility within the
corporate holding company.\39\
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    \39\ EPSA Comments at 2.
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    42. EPSA argues that this category of public utility, which
includes independent power producers that are structured as merchant
sellers of power only, are incapable of and do not pose a danger of
imposing excessive charges or allocating unreasonable costs to
customers, flouting state regulation in any way, or harming customers
through a general lack of economy of management, operation,
inefficiency, or inadequacy of services. EPSA asserts that, with
independent entities, any mismanagement or uneconomic transactions are
not passed on to customers, but are borne exclusively by shareholders.
EPSA proposes that blanket authorizations be granted solely to those
utilities on an intra-holding company basis.\40\
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    \40\ Id. at 3.
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    43. EPSA suggests that, to provide oversight to companies eligible
for its proposed blanket authorization, ``an entity with market-based
rate authority and previously granted a blanket authorization for
interlocking positions within its holding company could declare in its
triennial market-based rate authorization filings that its holding
company structure remains fully independent, and therefore that entity
continues to pose no threat of harm to captive customers as a result of
affiliate abuse concerns and, as such, does not pose a threat to pass
on rate increases driven by affiliate contracts or contracts between
independent companies with a common set of officers or directors.''
\41\ EPSA also compares its requested blanket authorization to blanket
authorizations under FPA section 203.\42\
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    \41\ Id. at 4.
    \42\ Id. at 4-5 (citing Transactions Subject to FPA Section 203,
Order No. 669, 113 FERC ] 61,315, at P 57 (2005), order on reh'g,
Order No. 669-A, 115 FERC ] 61,097, order on reh'g, Order No. 669-B,
116 FERC ] 61,076 (2006)).
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    44. EPSA asserts that granting blanket authorization to intra-
holding company independent power producers and marketers without
captive customers is a logical outgrowth of the NOPR and is consistent
with the NOPR's intent, and would serve to reduce regulatory burdens
and modernize these regulations to better reflect the modern state of
the electricity generation and sales landscape.\43\ EPSA also suggests
that the Commission could issue a supplemental notice in order to
broaden the scope of the NOPR to implement EPSA's proposed changes in
the final rule.\44\
---------------------------------------------------------------------------

    \43\ Id. at 8-9.
    \44\ Id. at 9.
---------------------------------------------------------------------------

iii. Just Energy
    45. Just Energy requests that the Commission grant blanket
authorizations to public utilities that are not franchised utilities
and are not affiliated with a franchised utility. Under Just Energy's
proposal, officers and directors of such public utilities and their
affiliates would not be required to seek prior authorization, but would
disclose all appointments and changes on their annual Form No. 561.\45\
---------------------------------------------------------------------------

    \45\ Just Energy Comments at 5-6.
---------------------------------------------------------------------------

iv. NRG
    46. NRG asks the Commission to issue a ``narrow and discrete''
blanket authorization for individuals holding officer positions in
affiliated entities all under the same holding company structure
without any captive customers, regardless of whether those positions
are with public utilities, electrical equipment supply companies, or
fuel supply companies.\46\ Under this proposal, the individual would be
able to hold positions in such entities

without any filing requirements (either a prior-notice filing or the
annual Form No. 561).\47\
---------------------------------------------------------------------------

    \46\ We note that an interlock involving the latter, i.e., fuel
supply companies, would not be a jurisdictional interlock under FPA
section 305(b) requiring a filing.
    \47\ NRG Comments at 5-6.
---------------------------------------------------------------------------

    47. Like EPSA, NRG compares its requested blanket authorization to
section 203 blanket authorizations.\48\ NRG states that allowing
blanket waivers in the interlock context would still allow the
Commission to rigorously police for the conduct that concerned Congress
in 1935 (that companies under common control were entering into above
market contracts and passing through those costs to retail customers),
meet the plain language of the statute, and reduce the paperwork burden
and regulatory burdens on regulated entities.\49\
---------------------------------------------------------------------------

    \48\ Id. at 6 (citing Blanket Authorization Under FPA Section
203, Order No. 708, 122 FERC ] 61,156 (2008)).
    \49\ Id.
---------------------------------------------------------------------------

    48. Although NRG asserts that the Commission could provide for a
blanket authorization as requested with no further notice because it is
a ``logical outgrowth'' of the NOPR, NRG suggests that the Commission
could also issue, out of an abundance of caution, a supplemental notice
describing the blanket authorization.\50\
---------------------------------------------------------------------------

    \50\ Id. at 6-7.
---------------------------------------------------------------------------

b. Commission Determination
    49. We decline to create a blanket authorization for persons
holding interlocking positions between affiliated companies without any
captive customers. The current requirements impose minimal burdens, and
the commenters have not made a sufficient case for granting their
requested relief of a blanket authorization.
    50. The burden that would be avoided by a blanket authorization for
individuals serving as officers or directors at multiple companies in a
holding company system is minimal. Currently, in such scenarios, each
individual must file only once--and then only a relatively minor
submittal--for authorization (under Sec.  45.9 of the Commission's
regulations), and then each individual needs to file only an annual
report pursuant to FPA section 305(c) each April 30 thereafter,\51\
which describes any changes in his/her positions among the companies in
the holding company system.
---------------------------------------------------------------------------

    \51\ Even if we were to grant the requested relief under FPA
section 305(b), that would not relieve the persons holding such
interlocks from the separate requirement to make an annual filing,
the Form No. 561, under FPA section 305(c).
---------------------------------------------------------------------------

    51. In response to EPSA and NRG's comparison of an interlock
blanket authorization to blanket authorizations in the FPA section 203
context, we note that, although the Commission implemented blanket
authorizations in the section 203 context, it was done in response to
the Energy Policy Act of 2005, which revised FPA section 203 by adding
FPA section 203(a)(5), which required the Commission to adopt
procedures for the expeditious consideration of applications under that
section.\52\ No similar circumstances exist here.
---------------------------------------------------------------------------

    \52\ Public Law 109-58, sec. 1289, 119 Stat. 594, 982 (2005);
Order No. 669, 113 FERC ] 61,315 at PP 55-57.
---------------------------------------------------------------------------

4. Online Submission Process/Database for Interlock Filings
a. Comments
    52. Golden Spread and NRECA filed comments requesting the creation
of an online submission process/database for interlock filings. Golden
Spread requests that the Commission consider moving the interlocking
directorate application, updating/supplementing, termination process,
and annual Form No. 561 to an online submission process. Golden Spread
argues that the current system is paper intensive and an online system
could streamline compliance associated with parts 45 and 46 and would
create an opportunity for more robust relational databases wherein the
Commission would be better able to track compliance with its
interlocking directorate program.\53\ Golden Spread and NRECA state
that an online submission process/database would reduce regulatory
burdens.\54\
---------------------------------------------------------------------------

    \53\ Golden Spread Comments at 5.
    \54\ Id.; NRECA Comments at 3.
---------------------------------------------------------------------------

b. Commission Determination
    53. We support modernizing our systems and processes. However, we
will not propose a new submission process or database in this
proceeding, but may consider the creation of an online process/database
in the future.
5. Temporary Appointments
a. Comments
    54. Just Energy states that it is not uncommon for market
participants to have to appoint, remove, or reappoint personnel to
officer positions to accommodate routine business needs that are not
always foreseeable or permanent. For example, Just Energy states that a
company may need to make a person an officer in order to have signature
authority for a transaction, or when someone is on medical leave. Just
Energy requests that these administrative, ministerial, or temporary
appointments not require any Commission approval or reporting, arguing
that they do not pose the kinds of threats contemplated by Congress
when it adopted section FPA 305(b), and are burdensome to both the
Commission and to public utilities.\55\
---------------------------------------------------------------------------

    \55\ Just Energy Comments at 6.
---------------------------------------------------------------------------

b. Commission Determination
    55. We acknowledge that an exemption from the filing requirements
for certain temporary appointments to interlocking positions reflects
the reality of the world, where a position may be unexpectedly left
vacant due to death, illness, etc. and a company must quickly appoint
someone to temporarily fill the now-vacant position on an ``acting''
basis. We therefore find that a person seeking to hold an interlocking
position covered by Sec.  45.2 that would otherwise require an
automatic authorization filing under Sec.  45.9 may be appointed to
fill the vacant position temporarily, for 90 days or less, without the
necessity of seeking Commission approval or of reporting in, for
example, Form No. 561. To implement this change, we add a new paragraph
(c) to Sec.  45.1, as well as additional language to Sec.  45.9(b) that
exempts a person holding a temporary interlocking position pursuant to
the new Sec.  45.1(c) from the requirement to submit an informational
report.
    56. We note that this temporary appointment exemption would, in
practice, apply only in a narrow set of circumstances--where a person
who has never held any interlock before is temporarily appointed to a
position at an affiliate company. For example, a person serving as an
officer of Utility A could be temporarily appointed as an officer of
affiliated Utility B, which is part of the same holding company as
Utility A, without the necessity of Commission approval or a reporting
requirement such as the annual Form No. 561. In this example, if this
person had previously been authorized to hold a non-temporary interlock
between two or more affiliated utilities, this exemption for temporary
positions would not be necessary; the person would already have been
required to have made an initial automatic authorization filing under
Sec.  45.9, and would only need to include this new appointment in his/
her annual Form No. 561.
    57. Finally, we note that a person cannot be re-appointed for
multiple 90-day periods to the same interlocking position and still
consider it a temporary position that continues to be exempt from the
automatic authorization requirements. Under such circumstances, the
individual who seeks to hold a position for more than 90 days

must seek the necessary authorization pursuant to the Commission's
regulations.
6. Cost Estimates for Informational Filings and Notices of Change
a. Comments
    58. Just Energy, in asserting that it is costly and burdensome for
individuals, and in many cases their employers, to comply with the
rules as written, states that the Commission's estimates that
informational filings cost $632.00 each, and that notices of change
cost $19.25, are too low. In support, Just Energy asserts that: (1)
Each filing must be customized to the individual; (2) the officer or
director must verify the reportable positions; (3) a notary may be
required for the attestation; (4) a corporate secretary may have to
pull information on positions held to verify the submission; (5)
corporate structure information may need to be pulled to verify that
the ownership chain qualifies for an informational filing; (6) someone
reviews the materials; (7) someone makes revisions to the filing; (8)
someone collects signatures; and (9) someone makes the filing.\56\
---------------------------------------------------------------------------

    \56\ Id. at 3, n.4.
---------------------------------------------------------------------------

b. Commission Determination
    59. We disagree that we have underestimated the costs of
informational filings and notices of change. We note that the cost
estimates stated in the NOPR and in this final rule are estimates of
average costs. While the costs of some informational filings and
notices of change will be higher than the stated averages, some will
also be less than the stated averages.

III. Information Collection Statement

    60. The collection of information contained in this final rule is
subject to review by the Office of Management and Budget (OMB) under
section 3507(d) of the Paperwork Reduction Act (PRA).\57\ The PRA
requires each federal agency to seek and obtain OMB approval before
undertaking a collection of information directed to 10 or more persons
or contained in a rule of general applicability. OMB's regulations \58\
require approval of certain information collection requirements imposed
by agency rules. Upon approval of a collection of information, OMB will
assign an OMB control number and an expiration date. Respondents
subject to the filing requirements of an agency rule will not be
penalized for failing to respond to the collection of information
unless the collection of information displays a valid OMB control
number.
---------------------------------------------------------------------------

    \57\ 44 U.S.C. 3507(d).
    \58\ 5 CFR part 1320.
---------------------------------------------------------------------------

    61. The revisions enacted by this final rule would clarify and
update the requirements \59\ for those seeking and holding interlocking
positions. The Commission anticipates that the revisions, once
effective, would reduce regulatory burdens. The Commission will submit
the reporting requirements to OMB for its review and approval under
section 3507(d) of the Paperwork Reduction Act.\60\
---------------------------------------------------------------------------

    \59\ 18 CFR parts 45, 46.
    \60\ 44 U.S.C. 3507(d).
---------------------------------------------------------------------------

    62. While the Commission expects that the regulatory revisions
herein will reduce the burdens on affected entities, the Commission
nonetheless solicits public comments regarding the accuracy of the
burden and cost estimates below.
    63. Burden Estimate: \61\ The estimated burden and cost for the
requirements contained in this final rule follow.
---------------------------------------------------------------------------

    \61\ ``Burden'' is the total time, effort, or financial
resources expended by persons to generate, maintain, retain, or
disclose or provide information to or for a Federal agency. For
further explanation of what is included in the information
collection burden, refer to 5 CFR 1320.3.
    \62\ The Commission staff thinks that the average respondent for
this collection is similarly situated to the Commission, in terms of
salary plus benefits. Based upon FERC's 2018 annual average (for
salary plus benefits) of $164,820, the average hourly cost is $79/
hour.

                                                                    FERC Form No. 520
                                         [Application for authority to hold interlocking directorate positions]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                      Annual number                                              Total annual burden
                                        Number of     of responses    Total number of    Average burden & cost   hours (total annual        Cost per
                                       respondents   per respondent      responses         per response \62\            cost)            respondent ($)
                                                (1)             (2)    (1) * (2) = (3)  (4)...................  (3) * (4) = (5)......          (5) / (1)
--------------------------------------------------------------------------------------------------------------------------------------------------------
Full...............................              16               1                 16  50 hrs.; $3,950.......  800 hrs.; $63,200....              3,950
Informational......................             500               1                500  8 hrs.; $632..........  4,000 hrs.; $316,000.                632
Notice of Change...................             100               1                100  0.25 hrs.; $19.75.....  25 hrs.; $1,975......              19.75
                                    ---------------------------------------------------                                               ------------------
    Total..........................  ..............  ..............  .................  ......................  4,825 hrs.; $381,175.
--------------------------------------------------------------------------------------------------------------------------------------------------------

    Title: FERC-520 (Application for Authority to Hold Interlocking
Directorate Positions).
    OMB Control No.: 1902-0083.
    Abstract: The FPA, as amended, mandates federal oversight and
approval of certain electric corporate activities to ensure that
neither public nor private interests are adversely affected.
Accordingly, the Commission's regulations prescribe related information
filing requirements to achieve this goal. Such filing requirements are
found in 18 CFR parts 45 and 46.
    Overview of the Data Collection. FERC-520 provides information
related to complex electric corporate activities, in particular, the
holding of interlocking positions, and thereby serves to safeguard
public and private interests, as the FPA requires.
    FERC-520 is divided into two types of applications: full and
informational. The full application, as specified in 18 CFR 45.8,
implements the FPA requirement under section 305(b) that it is unlawful
for any person to concurrently hold the positions of officer or
director of more than one public utility; or a public utility and a
financial institution that is authorized to underwrite or participate
in the marketing of public utility securities; or a public utility and
an electrical equipment supplier to such public utility, unless
authorized by the Commission. In order to obtain authorization, an
applicant must demonstrate that neither public nor private interests
will be adversely affected by the holding of the positions. The full
application provides the Commission with information about any
interlocking position for which the applicant seeks authorization
including, but not limited to, a description of

duties and the estimated time devoted to the position.
    An informational (abbreviated) application, as specified in 18 CFR
45.9, allows an applicant to receive automatic authorization for an
interlocked position upon receipt of the filing by the Commission. The
informational application applies only to those individuals who seek
authorization as: (1) An officer or director of two or more public
utilities where the same holding company owns, directly or indirectly,
that percentage of each utility's stock (of whatever class or classes)
which is required by each utility's by-laws to elect directors; (2) an
officer or director of two public utilities, if one utility is owned,
wholly or in part, by the other and, as its primary business, owns or
operates transmission or generation facilities to provide transmission
service or electric power for sale to its owners; or (3) an officer or
director of more than one public utility, if such person is already
authorized under part 45 to hold different positions as officer or
director of those utilities where the interlock involves affiliated
public utilities.
    FERC-520 also includes the requirement to file a notice of change
if there are new positions or changes to the positions held. The
Commission is revising its requirements and, among other things, will
no longer require a notice of change when a person is merely changing
positions within a holding company system. This change is expected to
reduce the number of filed notices of change by 50 percent annually
(from 200 filings to 100 filings) and to reduce the corresponding total
burden.
    Type of Respondents: Individuals who plan to concurrently become or
concurrently are officers or directors of public utilities and of
certain other entities must request authorization to hold such
interlocking positions by submitting a FERC-520.
    Internal Review: The Commission has reviewed the information
collection requirements and has determined that certain changes are
needed and that the remaining requirements are necessary. These
requirements conform to the Commission's need for efficient information
collection, communication, and management within the energy industry.
The Commission has specific, objective support for the burden estimates
associated with the information collection requirements. Interested
persons may obtain information on the reporting requirements by
contacting the following: Federal Energy Regulatory Commission, 888
First Street NE, Washington, DC 20426 [Attention: Ellen Brown, Office
of the Executive Director], email<EMAIL_ADDRESS>Phone: (202)
502-8663, fax:<PHONE_NUMBER>. Comments concerning the collection of
information and the associated burden estimate(s) may also be sent to
the Office of Information and Regulatory Affairs, Office of Management
and Budget, 725 17th Street NW, Washington, DC 20503 [Attention: Desk
Officer for the Federal Energy Regulatory Commission]. Due to security
concerns, comments should be sent electronically to the following email
address<EMAIL_ADDRESS>Please refer to FERC-520, OMB
Control No. 1902-0083 in your submission.

IV. Environmental Analysis

    64. 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 human environment.\63\ We
conclude that neither an Environmental Assessment nor an Environmental
Impact Statement is required for this final rule under Sec.  380.4(a)
of the Commission's regulations, which provides a categorical exemption
for actions under section 305 of the FPA relating to interlocking
directorates.\64\
---------------------------------------------------------------------------

    \63\ Regulations Implementing the National Environmental Policy
Act of 1969, Order No. 486, 52 FR 47897 (Dec. 17, 1987), FERC Stats.
& Regs. ] 30,783 (1987).
    \64\ 18 CFR 380.4(a)(16).
---------------------------------------------------------------------------

V. Regulatory Flexibility Act

    65. The Regulatory Flexibility Act of 1980 (RFA) \65\ generally
requires a description and analysis of final rules that will have
significant economic impact on a substantial number of small entities.
The Small Business Administration's (SBA) Office of Size Standards
develops the numerical definition of a small entity.\66\ These
standards are provided in the SBA regulations at 13 CFR 121.201.\67\
---------------------------------------------------------------------------

    \65\ 5 U.S.C. 601-612.
    \66\ 13 CFR 121.101.
    \67\ 13 CFR 121.201. See also U.S. Small Business
Administration, Table of Small Business Size Standards Matched to
North American Industry Classification System Codes (effective Feb.
26, 2016), https://www.sba.gov/sites/default/files/files/Size_Standards_Table.pdf.
---------------------------------------------------------------------------

    66. This final rule will apply to those individuals seeking to hold
and those currently holding interlocking positions. In order to obtain
authorization, an applicant must demonstrate that neither public nor
private interests will be adversely affected by the holding of the
interlocking positions.
    67. There are an estimated 16 respondents who could file full
applications over the course of a year, who would provide one response
annually with an estimated time commitment of 50 hours per response,
and a resulting estimated cost of $3,950.00 per respondent. There are
an estimated 500 respondents who could file informational applications
over the course of a year, who would provide one response annually with
an estimated time commitment of 8 hours per response, and a resulting
estimated cost of $632.00 per respondent. In addition, there are an
estimated 100 respondents who could file a notice of change annually
with an estimated time commitment of 0.25 hours, and a resulting cost
of $19.75 per respondent. Therefore the average annual cost for each of
the 616 respondents is $618.79. That cost is not significant. More
importantly, this final rule reduces industry cost by eliminating the
need for the filing of some notices of change.
    68. The Commission certifies that this final rule will not have a
significant economic impact on a substantial number of small entities.

VI. Document Availability

    69. 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 5:00 p.m. Eastern time) at 888 First Street NE, Room 2A,
Washington, DC 20426.
    70. 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.
    71. 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 email at
<EMAIL_ADDRESS>or the Public Reference Room at (202) 502-
8371, TTY<PHONE_NUMBER>. Email the Public Reference Room at
<EMAIL_ADDRESS>
VII. Effective Date and Congressional Notification

    72. These regulations are effective May 3, 2019. The Commission has
determined that this rule is not a ``major rule'' as defined in section
351 of the

Small Business Regulatory Enforcement Fairness Act of 1996.

List of Subjects

18 CFR Part 45

    Electric utilities, Reporting and recordkeeping requirements.

18 CFR Part 46

    Antitrust, Electric utilities, Holding companies, Reporting and
recordkeeping requirements.

    By the Commission.

    Issued: February 21, 2019.
Nathaniel J. Davis, Sr.,
Deputy Secretary.

    In consideration of the foregoing, the Commission amends parts 45
and 46, chapter I, title 18, Code of Federal Regulations, as follows:

PART 45--APPLICATION FOR AUTHORITY TO HOLD INTERLOCKING POSITIONS

0
1. The authority citation for part 45 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; 3 CFR 142.

0
2. Amend Sec.  45.1 by revising paragraph (a)(3) and adding paragraph
(c) to read as follows:

Sec.  45.1  Applicability; who must file.

    (a) * * *
    (3) Officer or director of a public utility and of any company
supplying electrical equipment to such public utility.
* * * * *
    (c) Notwithstanding paragraphs (a) and (b) of this section, any
person may temporarily hold an interlocking position described in Sec.
45.2 for no more than 90 days within a twelve-month period without
applying for Commission authorization under Sec.  45.8 and without
complying with the requirements for authorization under Sec.  45.9.

0
3. Amend Sec.  45.2 by adding paragraph (d) to read as follows:

Sec.  45.2  Positions requiring authorization.

* * * * *
    (d) A person that holds or proposes to hold an interlocking
position as officer or director of a public utility and of a
corporation described by paragraph (b)(2) of this section shall not
require authorization to hold such positions in the following
circumstances--
    (1) The person does not participate in any deliberations or
decisions of the public utility regarding the selection of the bank,
trust company, banking association, or firm to underwrite or
participate in the marketing of securities of the public utility, if
the person serves as an officer or director of a bank, trust company,
banking association, or firm that is under consideration in the
deliberation process;
    (2) The bank, trust company, banking association, or firm of which
the person is an officer or director does not engage in the
underwriting of, or participate in the marketing of, securities of the
public utility of which the person holds the position of officer or
director;
    (3) The public utility for which the person serves or proposes to
serve as an officer or director selects underwriters by competitive
procedures; or
    (4) The issuance of securities of the public utility for which the
person serves or proposes to serve as an officer or director has been
approved by all Federal and State regulatory agencies having
jurisdiction over the issuance.

0
4. Revise Sec.  45.3(a) to read as follows:

Sec.  45.3  Timing of filing application.

    (a) The holding of positions within the purview of section 305(b)
of the Act shall be unlawful unless the holding shall have been
authorized by order of the Commission. Nothing in this part shall be
construed as authorizing the holding of positions within the purview of
section 305(b) of the Act prior to order of the Commission on
application therefor. Applications must be filed and authorization must
be granted prior to holding any interlocking positions within the
purview of section 305(b) of the Act; the Commission will consider
late-filed applications on a case-by-case basis. The term ``holding,''
as used in this part, shall mean acting as, serving as, voting as, or
otherwise performing or assuming the duties and responsibilities of
officer or director within the purview of section 305(b) of the Act.
* * * * *

0
5. Amend Sec.  45.4 by adding paragraph (c) to read as follows:

Sec.  45.4  Supplemental applications.

* * * * *
    (c) Changes in interlocking positions within the scope of Sec.
45.9. Notwithstanding paragraphs (a) and (b) of this section, in the
case of interlocking positions that qualify for automatic authorization
pursuant to Sec.  45.9(a), a filing under this section will not be
required if the only changes to be reported are holding different or
additional interlocking positions that would qualify for automatic
authorization pursuant to Sec.  45.9(a).

0
6. Revise Sec.  45.5(b) to read as follows:

Sec.  45.5  Supplemental information.

* * * * *
    (b) Notice of changes. In the event of the applicant's resignation,
withdrawal, or failure of reelection or appointment in respect to any
of the positions for which authorization has been granted by the
Commission, or in the event of any other material or substantial change
therein, the applicant shall, within 60 days after any such change
occurs, give notice thereof to the Commission setting forth the
position, corporation, and date of termination therewith, or other
material or substantial change. In the case of interlocking positions
that qualify for automatic authorization pursuant to Sec.  45.9(a), a
notice of change under this section will not be required if the only
change to be reported is a resignation or withdrawal from fewer than
all positions held between or among affiliated public utilities, a
reelection or reappointment to a position that was previously
authorized, or holding a different or additional interlocking position
that would qualify for automatic authorization pursuant to Sec.
45.9(a).
* * * * *

0
7. Revise Sec.  45.8(c)(1) to read as follows:

Sec.  45.8  Contents of application.

* * * * *
    (c) * * *
    (1) Name of utility, unless said utility does not have officers or
directors.
* * * * *

0
8. Revise Sec.  45.9(a)(1) and (3) and (b) to read as follows:

Sec.  45.9  Automatic authorization of certain interlocking positions.

    (a) * * *
    (1) Officer or director of one or more other public utilities if
the same holding company or person owns, directly or indirectly, that
percentage of each utility's stock (of whatever class or classes) which
is required by each utility's by-laws to elect directors;
* * * * *
    (3) Officer or director of more than one public utility, if such
officer or director is already authorized under this part to hold
positions as officer or director of those or any other public utilities
where the interlock involves affiliated public utilities.
    (b) Conditions of authorization. (1) As a condition of
authorization, any person eligible to seek authorization to hold
interlocking positions under this section must submit, prior to
performing or assuming the duties and responsibilities of the position,
an informational report

in accordance with paragraph (c) of this section, unless that person:
    (i) Is already authorized to hold interlocking positions of the
type governed by this section;
    (ii) Is exempt from filing an informational report pursuant to
Sec.  45.4; or
    (iii) Will hold a temporary interlocking position pursuant to Sec.
45.1(c).
    (2) The Commission will consider failures to timely file the
informational report on a case-by-case basis.
* * * * *

PART 46--PUBLIC UTILITY FILING REQUIREMENTS AND FILING REQUIREMENTS
FOR PERSONS HOLDING INTERLOCKING POSITIONS

0
9. The authority citation for part 46 continues to read as follows:

    Authority: 16 U.S.C. 792-828c; 16 U.S.C. 2601-2645; 42 U.S.C.
7101-7352; E.O. 12009, 3 CFR 142.

0
10. Amend Sec.  46.2 by revising paragraph (a), removing and reserving
paragraph (b), and revising paragraphs (c) and (e) to read as follows:

Sec.  46.2  Definitions.

* * * * *
    (a) Public utility has the same meaning as in section 201(e) of the
Federal Power Act. Such term does not include any rural electric
cooperative which is regulated by the Rural Utilities Service of the
Department of Agriculture or any other entities covered in section
201(f) of the Federal Power Act.
* * * * *
    (c) Purchaser means any individual or corporation within the
meaning of section 3 of the Federal Power Act who purchases electric
energy from a public utility. Such term does not include the United
States or any agency or instrumentality of the United States or any
rural electric cooperative which is regulated by the Rural Utilities
Service of the Department of Agriculture.
* * * * *
    (e) Entity means any firm, company, or organization including any
corporation, joint-stock company, partnership, association, business
trust, organized group of persons, whether incorporated or not, or a
receiver or receivers, trustee or trustees of any of the foregoing.
Such term does not include municipality as defined in section 3 of the
Federal Power Act and does not include any Federal, State, or local
government agencies or any rural electric cooperative which is
regulated by the Rural Utilities Service of the Department of
Agriculture.
* * * * *
[FR Doc. 2019-03419 Filed 3-1-19; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 86, Number 223 (Tuesday, November 23, 2021)]
[Notices]
[Page 66546]
[FR Doc No: 2021-25547]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER22-416-000]

Indra Power Business NJ, LLC; Supplemental Notice That Initial
Market-Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced proceeding of
Indra Power Business NJ, LLC's application for market-based rate
authority, with an accompanying rate tariff, noting that such
application includes a request for blanket authorization, under 18 CFR
part 34, of future issuances of securities and assumptions of
liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is December 7, 2021.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically may mail similar pleadings to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. Hand delivered submissions in docketed
proceedings should be delivered to Health and Human Services, 12225
Wilkins Avenue, Rockville, Maryland 20852.
    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) using
the ``eLibrary'' link. Enter the docket number excluding the last three
digits in the docket number field to access the document. At this time,
the Commission has suspended access to the Commission's Public
Reference Room, due to the proclamation declaring a National Emergency
concerning the Novel Coronavirus Disease (COVID-19), issued by the
President on March 13, 2020. For assistance, contact the Federal Energy
Regulatory Commission at [email protected] or call toll-free,
(886) 208-3676 or TYY,<PHONE_NUMBER>.

    Dated: November 17, 2021.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2021-25547 Filed 11-22-21; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)]
[Notices]
[Pages 88000-88001]
[FR Doc No: 2016-29145]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Noise Exposure Map Notice for Lehigh Valley International
Airport, Allentown, Pennsylvania

AGENCY: Federal Aviation Administration, DOT

ACTION: Notice.

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SUMMARY: The Federal Aviation Administration (FAA) announces its
determination that the noise exposure maps submitted by the Lehigh-
Northampton Airport Authority for Lehigh Valley International Airport
under the provisions of 49 U.S.C. 47501 et. seq (Aviation Safety and
Noise Abatement Act) and 14 CFR part 150 are in compliance with
applicable requirements.

DATES: Effective Date: The effective date of the FAA's determination on
the noise exposure maps is November 28, 2016.

FOR FURTHER INFORMATION CONTACT: Harrisburg Airports District Office
(HAR ADO), Susan L. McDonald, Environmental Protection Specialist,
Federal Aviation Administration, HAR ADO, 3905 Hartzdale Drive, Suite
508, Camp Hill, PA 17011, Telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: This notice announces that the FAA finds
that the noise exposure maps submitted for Lehigh Valley International
Airport are in compliance with applicable requirements of 14 CFR 150
(part 150), effective January 13, 2004. Under 49 U.S.C. Section 47503
of the Aviation Safety and Noise Abatement Act (hereinafter referred to
as ``the Act''), an airport operator may submit to the FAA noise
exposure maps which meet applicable regulations and which depict non-
compatible land uses as of the date of submission of such maps; a
description of estimated aircraft operations during a forecast period
that is at least five (5) years in the future; and the ways in which
such operations will affect such maps. The Act requires such maps to be
developed in consultation with interested and affected parties in the
local community, government agencies, planning authorities, and persons
using the airport. An airport operator that has submitted noise
exposure maps that are found by FAA to be in compliance with the
requirements of Federal Aviation Regulations (FAR) Part 150,
promulgated pursuant to the Act, may submit a noise compatibility
program for FAA approval, which sets forth the measures the operator
has taken or proposes to take to reduce existing non-compatible uses
and prevent the introduction of additional non-compatible uses.
    The FAA has completed its review of the noise exposure maps and
accompanying documentation submitted by Lehigh-Northampton Airport
Authority. The documentation that constitutes the ``Noise Exposure
Maps'' (NEM) as defined in Section 150.7 of Part 150 includes 2015 Base
Year NEM, Figure 4-5; and 2020 Future Year NEM, Figure 5-1. The Noise
Exposure Maps contain current and forecast information, including the
depiction of the airport and its

boundaries; the runway configurations; land uses such as residential,
open space, commercial/retail, community facilities, libraries,
churches, and warehouses; and those areas within the Day Night Average
Sound Level (DNL) 65, 70 and 75 noise contours. Estimates for the area
within these contours for the 2015 Base Year are shown in Table 4-8 and
Table 4-9, and in Chapter 4 of the NEM. Estimates of the residential
population within the 2020 Future Year noise contours are shown in
Table 5-5, and in Chapter 5 of the NEM. Figure 3-1, in Chapter 3,
displays the location of noise monitoring sites. Flight tracks are
found in Chapter 4, and detailed in Appedix C. The type and frequency
of aircraft operations (including nighttime operations) are found in
Chapter 4, Tables 4-5 and 4-6. The FAA has determined that these noise
exposure maps and accompanying documentation are in compliance with
applicable requirements. This determination is effective on November
28, 2016.
    FAA's determination on an airport operator's noise exposure maps is
limited to a finding that the maps were developed in accordance with
the procedures contained in Appendix A of FAR Part 150. Such
determination does not constitute approval of the applicant's data,
information or plans, or a commitment to approve a noise compatibility
program or to fund the implementation of that program. If questions
arise concerning the precise relationship of specific properties to
noise exposure contours depicted on a noise exposure map submitted
under Section 47503 of the Act, it should be noted that the FAA is not
involved in any way in determining the relative locations of specific
properties with regard to the depicted noise contours, or in
interpreting the noise exposure maps to resolve questions concerning,
for example, which properties should be covered by the provisions of
Section 47506 of the Act. These functions are inseparable from the
ultimate land use control and planning responsibilities of local
government. These local responsibilities are not changed in any way
under Part 150 or through the FAA's review of noise exposure maps.
Therefore, the responsibility for the detailed overlaying of noise
exposure contours onto the map depicting properties on the surface
rests exclusively with the airport operator that submitted those maps,
or with those public agencies and planning agencies with which
consultation is required under Section 47503 of the Act. The FAA has
relied on the certification by the airport operator, under Section
150.21 of FAR Part 150, that the statutorily required consultation has
been accomplished.
    Copies of the full noise exposure map documentation and of the
FAA's evaluation of the maps are available for examination at the
following locations:

Federal Aviation Administration, Eastern Region, Airports Division,
AEA-600, 1 Aviation Plaza, Jamaica, New York 11434.
Federal Aviation Administration, Harrisburg Airports District Office,
3905 Hartzdale Drive, Suite 508, Camp Hill, PA 17011.
Charles R. Everett, Executive Director, Lehigh Valley International
Airport, Lehigh Northamption Aiport Authority, 3311 Airport Road,
Allentown, PA 18109-3040.

FOR FURTHER INFORMATION CONTACT: Harrisburg Airports District Office
(HAR ADO), Susan L. McDonald, Environmental Protection Specialist,
Federal Aviation Administration, HAR ADO, 3905 Hartzdale Drive, Suite
508, Camp Hill, PA 17011, Telephone:<PHONE_NUMBER>.

    Issued in Camp Hill, PA on November 21, 2016.
Lori K. Pagnanelli,
Manager, Harrisburg Airports District Office, Eastern Region.
[FR Doc. 2016-29145 Filed 12-5-16; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register: September 16, 2008 (Volume 73, Number 180)]
[Notices]
[Page 53469]
[DOCID:fr16se08-96]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58445A; File No. SR-BSE-2008-43]

Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Regarding Transfer of Ownership of MX US 2, Inc.; Correction

September 10, 2008.
    In FR Doc. No. E8-20869, for Tuesday, September 9, 2008, beginning
on page 52434, make the following correction. On page 52436, first
column, the first full paragraph is revised to read as follows:
    A proposed rule change filed under Rule 19b-4(f)(6) normally may
not become operative prior to 30 days after the date of filing.\17\
However, Rule 19b-4(f)(6)(iii) permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest.\18\ The Exchange has requested that
the Commission waive the 30-day operative delay.\19\ The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest because BSE has
represented that the Instruments of Accession will be executed on
August 29, 2008, and there is no reason to delay implementation of the
changes to the BOX LLC Agreement pursuant to the Instruments of
Accession. For these reasons, the Commission designates the proposal to
be operative upon filing with the Commission.\20\
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    \17\ 17 CFR 240.19b-4(f)(6)(iii). In addition, Rule 19b-
4(f)(6)(iii) requires the self-regulatory organization to give the
Commission notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. The Commission has determined to waive the five-day
prefiling period in this case.
    \18\ 17 CFR 240.19b-4(f)(6)(iii).
    \19\ See E-mail from Lisa J. Fall, General Counsel and Corporate
Secretary, BOX, to Molly Kim, Special Counsel, Division of Trading
and Markets, Commission, on August 29, 2008.
    \20\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. 15 U.S.C. 78c(f).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21485 Filed 9-15-08; 8:45 am]

BILLING CODE 8010-01-P