Cost-of-Service Filing and Reporting Requirements for Oil Pipelines; Notice of Proposed Rulemaking

DEPARTMENT OF ENERGY

18 CFR Parts 342, 346, 347, 357, and 385

[Docket No. RM94-2-000]

Cost-of-Service Filing and Reporting Requirements for Oil

Pipelines; Notice of Proposed Rulemaking

July 28, 1994.

AGENCY: Federal Energy Regulatory Commission.

ACTION: Notice of proposed rulemaking.

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SUMMARY: The Federal Energy Regulatory Commission is proposing to

revise the information reported by oil pipelines in their Form No. 6,

Annual Report of Oil Pipeline Companies, and to amend its regulations

to adopt filing requirements for cost-of-service rate filings by oil

pipelines.

DATES: Comments are due no later than September 8, 1994.

ADDRESSES: An original and 14 copies of written comments must be filed.

All filings should refer to Docket No. RM94-2-000 and should be

addressed to Office of the Secretary, Federal Energy Regulatory

Commission, 825 North Capitol Street, NE., Washington, DC 20426.

FOR FURTHER INFORMATION CONTACT:

Harris S. Wood, Office of the General Counsel, Federal Energy

Regulatory Commission, 825 North Capitol Street, NE., Washington, DC

20426, (202) 208-0224.

SUPPLEMENTARY INFORMATION: In addition to publishing the full text of

this document in the Federal Register, the Commission also provides all

interested persons an opportunity to inspect or copy the contents of

this document during normal business hours in Room 3104, 941 North

Capitol Street, NE., Washington, DC 20426.

The Commission Issuance Posting System (CIPS), an electronic

bulletin board service, provides access to the texts of formal

documents issued by the Commission. CIPS is available at no charge to

the user and may be accessed using a personal computer with a modem by

dialing (202) 208-1397. To access CIPS, set your communications

software to use 300, 1200, or 2400 bps, full duplex, no parity, 8 data

bits an 1 stop bit. CIPS can also be accessed at 9600 bps by dialing

(202) 208-1781. The full text of this proposed rule will be available

on CIPS for 30 days from the date of issuance. The complete text on

diskette in Wordperfect format may also be purchased from the

Commission's copy contractor, La Dorn Systems Corporation, also located

in Room 3104, 941 North Capitol Street, NE., Washington, DC 20426.

The Federal Energy Regulatory Commission (Commission) proposes to

revise the information reported by oil pipelines in their FERC Form No.

6, Annual Report of Oil Pipeline Companies (Form No. 6), and to

establish filing requirements for cost-of-service rate filings by oil

pipelines. The Commission also proposes to issue rules for oil

pipelines performing depreciation studies. Finally, the Commission

proposes to require oil pipelines to file Form No. 6 on an electronic

medium in addition to a paper filing. All these changes are proposed to

become effective January 1, 1995, concurrently with the new regulations

promulgated by Order No. 561.\1\

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\1\Revisions to Oil Pipeline Regulations Pursuant to Energy

Policy Act, Order No. 561, III FERC Stats. & Regs. 30,985 (1993);

Order on Rehearing, Order No. 561-A, 68 FERC paragraph 61,138

(1994), issued concurrently with this Notice.

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I. Background

In Order No. 561, issued by the Commission on October 22, 1993, the

Commission established an indexing methodology to be used by oil

pipelines as the generally applicable and simplified methodology for

regulating oil pipeline rates on or after January 1, 1995. The indexing

methodology will establish ceilings on oil pipeline rates. The

Commission also recognized that there might be instances where

pipelines using the indexing methodology to establish ceilings on their

rates could substantially underrecover their prudent costs. The

Commission provided the opportunity for pipelines to seek an exception

to indexing in those instances. Further, the Commission provided that

rates for new services could be established either through negotiation

or by use of a cost-of-service methodology.\2\

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\2\18 CFR Sec. 342.2.

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In Order No. 561, as modified by Order No. 561-A, the Commission

has provided a balanced approach to the index ratemaking methodology.

On the one hand, it would allow an oil pipeline to file for rates above

the indexed ceiling when the pipeline can show that there is a

substantial divergence between the costs to be experienced by the

pipeline and the revenues that would be produced by indexed rates. On

the other hand, it would allow challenges to an oil pipeline's proposed

indexed rates based on allegations that the indexed rates would produce

increased revenues substantially in excess of the pipeline's actual

increase in costs.\3\ The Commission also recognized that cost-of-

service rate filing information would be necessary for interested

parties to decide whether to challenge proposed cost-of-service rates,

and that Form No. 6 might need to be revised to enable effective cost-

based challenges to indexed rates.

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\3\As noted in Order No. 561-A, the Commission is requiring that

there be a substantial divergence between actual costs and rates to

allow for efficiency gains that may occur.

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The Commission initiated this proceeding as a companion to Order

No. 561 to inquire into the cost information that oil pipelines should

include with their cost-of-service rate filings and in their annual

Form No. 6 reports. The Commission thus issued a Notice of Inquiry

(NOI)\4\ to solicit comments on the appropriate information to be

included by oil pipelines with their cost-of-service rate filings and

whether it is necessary to revise the information reported by oil

pipelines in Form No. 6. The Commission further solicited comments on

whether and how cost-of-service ratemaking might be streamlined.\5\

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\4\IV FERC Stats. & Regs. 35,528, entitled Cost-of-Service

Filing and Reporting Requirements for Oil Pipelines.

\5\In Docket No. RM94-1-000, Market-Based Ratemaking for Oil

Pipelines, the Commission solicited comments on whether to continue

to permit oil pipelines to seek market based rates and, if so, the

appropriate standards for making a determination that a pipeline

lacks significant market power. This matter is the subject of a

separate notice of proposed rulemaking, issued contemporaneously.

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Comments and/or reply comments were received from six oil

pipelines,\6\ one shipper,\7\ four trade associations representing

either pipelines or shippers,\8\ and the State of Alaska. These

comments indicated a need for revising Form No. 6 in many respects, as

discussed below. While the Commission has not had specific filing

requirements for rate changes since it began regulating oil pipelines

in 1977,\9\ the comments generally supported a specific set of

regulations for cost-of-service rate filings. However, there was no

consensus on what those regulations should contain.

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\6\ARCO Pipe Line Company, Four Corners Pipeline Company and

ARCO Transportation Alaska, Inc. (collectively, ARCO); Williams Pipe

Line Company (Williams); Marathon Pipe Line Company (Marathon);

CITGO Pipeline Company (CITGO); Badger Pipe Line Company (Badger);

Kaneb P/L Operating Partnership, L.P. (Kaneb); and Lakehead Pipe

Line Company (Lakehead).

\7\Chevron U.S.A. Products Company (Chevron).

\8\Association of Oil Pipe Lines (AOPL) representing pipelines;

and the Petrochemical Energy Group (PEG), the Independent Petroleum

Association of America (IPAA), and the National Counsel of Farmer

Cooperatives (NCFC), representing shippers.

\9\Jurisdiction of oil pipelines was transferred from the

Interstate Commerce Commission to the Commission in 1977. See

Department of Energy Organization Act, 42 U.S.C. 7101 (1988).

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Upon review of the comments, the Commission proposes to revise and

update Form No. 6 so that the information reported by oil pipelines

will enable shippers to analyze oil pipeline cost changes to determine

whether to challenge indexed rate filings, and enable the Commission to

monitor the effectiveness of the index in reflecting cost changes

experienced by pipelines. The Commission also proposes to establish,

through regulations, the specific filing requirements for cost-of-

service filings for oil pipelines to conform to the Opinion No. 154-B

methodology.\10\

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\10\Opinion No. 154-B methodology is derived from the

Commission's opinions in Williams Pipe Line Company, Opinion No.

154-B, 31 FERC 61,377 (1985), on rehearing, Opinion No. 154-C,

Williams Pipeline Company, 33 FERC 61,327 (1985); and ARCO Pipe

Line Company, Opinion No. 351, 52 FERC 61,055 (1990), on rehearing,

Opinion No. 351-A, ARCO Pipe Line Company, 53 FERC 61,398 (1990).

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II. Public Reporting Burden

The Commission estimates the public reporting burden for the

collections of information under the proposed rule will be reduced for

Form No. 6 by approximately 7 percent and will, in effect, remain

unchanged for rate filings, since the Commission proposes to codify the

information to be provided which the Commission's staff has requested

of oil pipelines for cost-of-service rate filings in the past. The

information will be collected on Form No. 6, ``Annual Report of Oil

Pipeline Companies'' and FERC-550, ``Oil Pipeline Rates: Tariff

Filings.''\11\ These estimates include the time for reviewing

instructions, researching existing data sources, gathering and

maintaining the data needed, and completing and reviewing the

collection of information. The current annual reporting burden

associated with these information collection requirements is as

follows:

\11\FERC-550 is the designation covering oil pipeline tariff

filings made to the Commission.

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Form No. 6: 22,200 hours, 148 responses, and 148 respondents; and

FERC-550: 5,350 hours, 535 responses, and 140 respondents.

The proposed rule will reduce the existing reporting burden

associated with Form No. 6 by an estimated 1480 hours annually, or an

average of 10 hours per response based on an estimated 148 responses.

This estimate includes the addition of two new schedules, the

elimination of several schedules, and increasing the reporting

thresholds for which oil pipelines must analyze and report certain

data.

Comments regarding these burden estimates or any other aspect of

these collections of information, including suggestions for reducing

this burden, can be sent to the Federal Energy Regulatory Commission,

941 North Capitol Street, N.E., Washington, DC 20426 [Attention:

Michael Miller, Information Services Division, (202) 208-1415]; and to

the Office of Information and Regulatory Affairs of OMB (Attention:

Desk Officer for Federal Energy Regulatory Commission), FAX: (202) 395-

5167.

III. Overview

Under Sec. 342.4(a) of the regulations as promulgated by Order No.

561-A, a pipeline can make a cost-of-service rate filing to show that

there is a substantial divergence between the actual costs experienced

by the carrier and the revenues which will be realized from ceiling

rates resulting from application of the index.\12\ A shipper may

protest an indexed rate change where it can show a significant

discrepancy between the rate change filed and the change in the

pipeline's costs in the interim since the last rate change.\13\

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\12\18 CFR Sec. 342.4(a).

\13\18 CFR Sec. 343.2(c)(1).

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The NOI requested comments on how standard information might be

collected and made available to provide a minimum adequate basis for

comparing changes in a pipeline's rates and costs, without requiring

unduly burdensome data filings by the pipelines. The goal was to

develop a final rule that would be supported by a consensus of the oil

pipeline industry and its customers. Some pipelines' comments urged

adoption of a stand-alone costing methodology,\14\ while others

indicated that the Commission should continue to use the Opinion No.

154-B methodology.\15\ Shippers and the State of Alaska also urged

retention of the Opinion No. 154-B methodology.\16\ Some conmmenters

also suggested modifications to the data contained in Form No. 6.\17\

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\14\AOPL, Marathon.

\15\Williams, ARCO.

\16\See, PEG and NCFC comments and reply comments.

\17\AOPL, Williams, ARCO, Marathon, PEG, Alaska, and Chevron.

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In view of the lack of a consensus among the parties filing

comments and the absence of any persuasive reasons for changing the

existing cost-based methodology, the Commission will continue to use

the Opinion No. 154-B ratemaking methodology as reflected in the

proposed regulations. The Commission proposed cost-of-service rate

filing requirements that are intended to include all the information

necessary to support a rate filing under Opinion No. 154-B. As for the

historical base data in Form No. 6, the Commission proposes changes

that are intended to permit a first level analysis of the relation of a

proposed change in rates under the indexing methodology to the changes

in cost actually experienced by a pipeline. They also are intended to

provide a basis for a Commission determination of whether a protest has

merit.

IV. The Proposed Rule

A. Revisions to Form No. 6

1. Proposed Changes to Conform With Order No. 561

Form No. 6 should contain information that will permit its use for

a number of purposes: developing initial rates for new service,

reviewing changes in rates made by use of the index, monitoring

existing rages, and analyzing and auditing finances. At present, the

primary focus of Form No. 6 is on financial accounting information that

is gathered based on accounting principles which are different in some

respects from the ratemaking principles used to establish rates for oil

pipelines. To serve as a tool to evaluate the performance of the index

and future changes in oil pipeline rates using the index methodology,

Form No. 6 should be revised to include additional information.

Revisions to Form No. 6 are needed to provide at least a

preliminary basis for shipper assessments of filed rate changes under

Order No. 561. Form No. 6 data should be complete enough to enable an

evaluation of whether a proposed rate change substantially exceeds the

pipeline's changes in costs. As currently structured, Form No. 6 does

not provide sufficient information to do this.

Only limited additional information would be needed in Form No. 6

to permit adequate preliminary review of a pipeline's cost-of-service

showings, and to permit shipper comparison of indexed rate changes with

changes in costs incurred. A single new schedule is proposed to be

added to Form No. 6, showing basic information needed for a review of

rate filings made within the index cap. The proposed new schedule,

appearing as page 700 of Form No. 6, would require each pipeline

company to report, as of the end of the reporting year and the

immediately preceding year, its Total Annual Cost of Service (as

calculated under the Order No. 154-B methodology), operating revenues,

and throughput in barrels and barrel-miles. This schedule should permit

a shipper to compare proposed changes in rates against the change in

the level of a pipeline's cost of service. It should also permit a

shipper to compare the change in a shipper's individual rate with the

change in the pipeline's average company-wide barrel-mile rate. The

proposed new schedule is set forth as a part of Appendix A to this

NOPR. Underlying calculations of and supporting data for these figures

would not be required to be reported in Form No. 6.

The use of trended original cost to establish a rate base for oil

pipelines, as required by the Opinion No. 154-B methodology, entails

complex calculations to derive annual figures for equity and equity

returns for ratemaking purposes. This calculation will differ from the

book equity figures contained in Form No. 6, which are required for

financial reporting purposes. In the Commission's view, to require the

display of these calculations in Form No. 6 would be cumbersome and not

be of significant benefit in a shipper's determination of whether to

protest a pipeline's indexed rate filing.\18\ In any event, if a

shipper protest results in a cost-of-service justification by the

pipeline, the underlying calculations would be available.

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\18\For a discussion of the differences in the equity and equity

return figures contained in Form No. 6 and the use of those figures

for ratemaking purposes under the Opinion No. 154-B methodology, see

Supplemental Brief of AOPL filed in Docket No. RM93-11-000 on

January 21, 1994, at 11-12.

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The changes proposed to Form No. 6 are proposed to be effective for

reporting year 1995. The 1995 Form No. 6 would be filed on or before

March 31, 1996. The new schedule appearing on page 700 therefore would

not be required for Form No. 6 filings until March 31, 1996, for

reporting year 1995. In the interim, the Commission proposed that a

verified copy of this new schedule for calendar years 1993 and 1994 be

prepared separately and filed concurrently with the first indexed rate

change filing made by a pipeline after January 1, 1995, or by March 31,

1995, whichever is earlier. For index rate change filings made early in

1995, complete data may not be available. In this instance, a 1994

schedule shall be prepared utilizing the most recently available data

annualized for 1994. By March 31, 1995, a new 1994 schedule must be

submitted, using the actual 1994 data.

This would provide shippers with the necessary information for an

analysis of proposed indexed rate changes after January 1, 1995, the

effective date of the regulations in Order No. 561. In addition, as

discussed below, the information on this page would become part of the

Commission's evaluation of the effectiveness of the index. Accordingly,

the Commission proposes to amend Sec. 342.3(b) of the regulations to

require a verified copy of a schedule containing the information

contained on page 700 for calendar years 1993 and 1994 to be filed with

the first indexed rate change filing made after January 1, 1995, or by

March 31, 1995, whichever is earlier.

In Order No. 561, the Commission stated it would monitor the

effectiveness of the index in tracing industry costs. These reviews

will occur every five years, commencing July 1, 2000.\19\ The proposed

page 700, together with other information contained in Form No. 6, will

permit the Commission to use the Form No. 6 data to help fulfill this

commitment. Since the Total Cost of Service, for example, is derived

from all of the components of a pipeline's cost and capital properties,

this figure, when used in conjunction with other Form No. 6

information, will provide details on general trends affecting each

company.

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\19\III FERC Stats. & Regs. 30,985 (1993), at 30,947.

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2. Other Proposed Changes to Form No. 6

Since the regulatory responsibility for oil pipelines was

transferred to this Commission from the Interstate Commerce Commission

in 1977, only cosmetic changes have been made to Form No. 6, other than

the addition of a Statement of Cash Flow. In addition to the changes

that are proposed to conform with Order No. 561, as discussed above,

there are other changes that should make Form No. 6 a more useful

report.

The Commission asked, in the NOI, what existing Form No. 6

reporting requirements (e.g., data or cost elements, schedules, or

instructions) should be eliminated or modified. Alaska recommended that

the Commission eliminate all schedules in Form No. 6 that are unrelated

to a pipeline's cost of service. It suggested that the Commission

require pipeline companies to report information separately for each

pipeline or system for which a cost of service is calculated. Alaska

also suggested that the Commission require pipelines to calculate and

report expense items using their cost-of-service methods in addition to

the method used for financial reporting.\20\ PEG similarly suggested

that the Commission adjust the Form No. 6 filing requirements so that

the data in Form No. 6 conforms to the principles of cost-of-service

ratemaking, and suggested that the Commission require pipelines to

conform their Form No. 6 data to embody the principles set forth in the

initial decision in Southern Pacific Pipe Lines, Inc., 39 FERC 63,018

(1987),\21\ and that the Commission require pipelines to calculate and

report data consistent with that initial decision.\22\

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\20\Alaska comments, pp. 5-8.

\21\Settlement in this case was reached before the Commission's

review of the initial decision.

\22\PEG comments, pp. 3-9.

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AOPL suggested that numerous schedules in Form No. 6 be changed or

eliminated to bring it up to date and to facilitate the Commission's

review of industry cost experience for purposes of the index

mechanism.\23\ ARCO suggested that several schedules, such as those

relating to accounts receivable and accounts payable, the miles of pipe

operated at the end of the year, and statistics of operation, be

eliminated to lessen the reporting burden.\24\ Marathon suggested

extension changes to Form No. 6, such as the establishment of an

electronic spreadsheet and filing capability, use of comparative

information for certain accounts, and consolidation or elimination of

certain schedules.\25\

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\23\AOPL comments, pp. 42-47.

\24\ARCO comments, p. 13, n. 24.

\25\Marathon comments, pp. 7-8.

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Based on the comments and review of the current schedules in Form

No. 6, the Commission proposes several changes to the annual report for

oil pipelines. To simplify the Form No. 6 data, the Commission proposes

to delete information not relevant to the Commission's regulatory

responsibilities under the ICA. The Commission also proposes to modify

certain Form No. 6 financial statements to a comparative format by

requiring two years of data to enhance their usefulness and to conform

the Form No. 6 data formats to the formats of FERC Nos. 1\26\ and 2\27\

(Form Nos. 1 and 2) for electric utilities and natural gas pipeline

companies, respectively.

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\26\Annual Report of Major Electric Utilities, Licensees, and

Others.

\27\Annual Report of Natural Gas Companies.

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The Commission proposes to change the format of several schedules

to accommodate electronic filing and reporting requirements for Form

No. 6 similar to that used for Form No. 1. The Commission proposes to

require electronic filing beginning with reports filed for the 1995

reporting year (i.e, reports due on or before March 31, 1996).

Electronic filing of Form No. 6 information, similar to that for Form

No. 1, should reduce the reporting burden for both large and small

pipelines. Financial information reported electronically should also

aid the Commission in conducting reviews of the pipeline companies and

the rates charged.

The Commission also proposes to eliminate unneeded schedules or

individual data elements, and to modify certain schedules so they will

contain more useful and relevant data. A sample copy of the pages in

Form No. 6 as proposed to be modified are attached as Appendix A.

The specific changes the Commission proposes are:

Corporate Control Over Respondent--Page 102

Some format modifications are proposed for electronic reporting

purposes to better report vertical control of respondent from the

immediate parent to ultimate controlling parent company.

Companies Controlled by Respondent--Page 103

This is a new schedule proposed to be added a new page 103, similar

to the schedules currently in Forms Nos. 1 and 2, to report all

subsidiaries directly controlled by a respondent.

Principal General Officers--Page 104

The Commission proposes that ``Office Address'' be replaced by

``Salary,'' to make the format the same as Form Nos. 1 and 2.

Directors--Page 105

The Commission proposes to modify this schedule to delete the

instructions at the top of the page and information required at lines

21 through 23. The Commission proposes to replace the deleted material

with similar instructions at the top of the schedule and to insert

``Title'' in addition to ``Name of Director'' in column (a). This will

make the format the same as Form Nos. 1 and 2.

Voting Powers of Security Holders--Pages 106 and 107

The Commission proposes to delete this schedule because it is not

needed for Commission regulatory purposes.

Important Changes During the Year--Pages 108 and 109

The Commission proposes that the current format be replaced with

instructions similar to Form Nos. 1 and 2.

Comparative Balance Sheet Statement--Pages 110, 111 and 113

Income Statement--Page 114

Appropriated Retained Income--Page 118

Unappropriated Retained Income Statement--Page 119

Statement of Cash Flows--Pages 120 and 121

The Commission proposes to modify these financial statements to

require that data be presented on a comparative basis (i.e., for two

years) to enhance the usefulness of these financial statements. The

Commission proposes to delete from page 119 the schedule showing

Dividend Appropriations of Retained Income, because it is not needed

for Commission regulatory purposes.

Working Capital--Page 117

The Commission proposes to delete this schedule because it is not

needed for Commission regulatory purposes.

Notes to Financial Statements--Pages 122 and 123

The Commission proposes to add new instructions which would require

statements of a company's accounting practices and policies (with

specific reference to such matters as income taxes, pensions and post-

retirement benefits); and significant matters concerning acquisitions

and sales, significant contingencies and liabilities existing at the

end of the year, and other matters that will materially affect company

operations.

Receivables From Affiliated Companies--Page 200

The reporting thresholds in Instruction No. 2 are proposed to be

raised from $100,000 to $500,000.

General Instructions Concerning Schedules 202 Through 205--Page 201

The Commission proposes to modify these instructions to conform

with Form Nos. 1 and 2 by deleting the subclassifications presently

required.

Other Investments--Pages 206 and 207

Securities, Advances and Other Intangibles Owned or Controlled Through

Nonreporting Carrier and Noncarrier Subsidiaries--Pages 208 and 209

The Commission proposes to delete these schedules because they are

not needed for Commission regulatory purposes.

Instructions for Schedule 212-213--Page 211

The Commission proposes to modify the footnote to Instruction No. 3

to require that a respondent identify the original cost of property

purchased or sold. This information is useful in the analysis of

carrier property transactions between oil pipeline companies. In

addition, the reporting thresholds in Instruction Nos. 3 and 5 are

proposed to be raised from $50,000 and $100,000 to $250,000 and

$500,000, respectively.

Amortization Base and Reserve--Pages 218 and 219

The reporting thresholds in Instruction No. 4 are proposed to be

raised from $10,000 to $100,000.

Noncarrier Property--Page 220

The reporting thresholds in Instruction No. 2 are proposed to be

raised from $100,000 to $250,000.

Other Deferred Charges--Page 221

The reporting thresholds in the instruction are proposed to be

raised from $100,000 to $250,000.

Payables to Affiliated Companies--Page 225

The reporting thresholds in Instruction Nos. 2 and 3 are proposed

to be raised from $100,000 to $250,000.

Analysis of Federal Income and Other Taxes Deferred--230 and 231

The Commission proposes to replace the current reporting format

with instructions that require an analysis of the respondent's current

and deferred income tax liability.

Capital Stock--Pages 250 and 251

The Commission proposes that the current schedules be replaced with

schedules and instructions similar to Form No. 2.

Operating Expense Accounts--Pages 302 Through 304

The Commission proposes to delete ``Operating Ratio'' at line 23

because it is not needed for Commission regulatory purposes.

Interest and Dividend Income--Page 336

The Commission proposes to delete the reference to Schedule pages

206 to 207 at line 2 because these pages are proposed to be eliminated.

Miscellaneous Items in Income and Retained Income Accounts for the

Year--Page 337

The reporting thresholds in Instruction No. 2 are proposed to be

raised from $100,000 to $250,000.

Employees and Their Compensation--Page 350

The Commission proposes to replace the present number of classes on

this schedule with only four work classes.

Payments for Services Rendered by Other Than Employees--Page 351

The reporting thresholds in Instruction No. 1 are proposed to be

raised from $30,000 to $100,000.

Finally, since the Commission proposes to require oil pipelines to

file Form No. 6 on an electronic medium, in addition to paper filing,

commencing with reporting year 1995 (reports due March 31, 1996),

Sec. 385.2011 of Part 385 of the Code of Federal Regulations is

proposed to be changed. The formats for electronic filing and the paper

copy would be obtainable at the Federal Energy Regulatory Commission,

Division of Public Information, 825 North Capitol Street, N.E.,

Washington, D.C. 20426. It is anticipated that the electronic formats

would be established by January 1, 1996, after consideration of the

views of all interested parties.

B. Cost-of-Service Filing Requirements

1. Summary

In the NOI in this docket, the Commission asked whether there are

ways to simplify and streamline the Commission's current cost-of-

service methodology to aid review of a pipeline's over-all revenue

requirement. As discussed earlier, a number of comments were received

on the methodology, but no consensus could be ascertained from the

comments. Therefore, the Commission will continue to require the use of

the Opinion No. 154-B cost-of-service methodology. The proposed filing

requirements are designed to implement this requirement.

As with present rate filings, and as required by Order No. 561, a

pipeline seeking to change rates is required to file a transmittal

letter containing the previous rate for the same movement or service,

the applicable ceiling rate for the movement in question, and the new

proposed tariff.\28\ This is all that is required to be filed for a

rate change within the index.

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\28\18 CFR 342.3(b).

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The Commission proposes to require a pipeline to file additional

information if it is filing for a cost-of-service rate above the

indexed rate change, or as support for an initial rate. This

information should permit a pipeline to establish an initial case for

cost-of-service rates. The additional filing requirements should

provide sufficient information for a preliminary cost-of-service

showing and will include an up-to-date overall cost of service for the

pipeline, calculated in accordance with Opinion No. 154-B methodology.

If the Commission institutes an investigation into a pipeline's rates,

additional information may be required of the pipeline. The new filing

requirements are set forth in proposed Part 346.

Part 346 also contains the Commission's proposed definition of the

terms ``base period'' and ``test period.'' The definitions of these

terms are consistent with the principles contained in the definitions

of similar terms in Section 154.63 of the Regulations under the Natural

Gas Act,\29\ applicable to natural gas pipeline companies.

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\29\18 CFR Sec. 154.63(e)(2)(i) (1993).

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2. The Supporting Statements

The oil pipeline must file the following statements and supporting

work papers to support either an initial rate developed on a cost-of-

service basis or a change in rates using the cost-of-service

methodology. Such filing is proposed to be in both electronic and paper

formats.

Statement A--Total Cost of Service

This statement would show the calculation of the Total Cost of

Service for a pipeline.

Statement B--Operation and Maintenance

This statement would report the operation, maintenance,

administrative and general expenses, and depreciation and amortization

expenses.

Statement C--Overall Return on Rate Base

This statement would show the derivation of the return on rate base

consisting of deferred earnings, equity and debt ratios, weighted cost

of capital, and costs of debt and equity.

Statement D--Income Taxes

This statement would show the calculation of the Income Tax

Allowance.

Statement E--Rate Base

This statement would show the calculation of the return rate base

required by Opinion No. 154-B methodology to derive the cost of

service.

Statement F--Allowance for Funds Used During Construction

This statement would show the calculation of the Allowance for

Funds Used During Construction (AFUDC).

Details of the various statements and supporting schedules are

found in the proposed regulations.

C. Other Proposed Changes

Depreciation Studies

In Order No. 561, the Commission stated that it would be the

pipelines' responsibility in the future to perform depreciation studies

to establish revised depreciation rates for oil pipelines. The

Commission further stated that the specific requirements for such

studies would be developed in this proceeding.\30\

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\30\III FERC Stats. & Regs, 30,985 (1993), at 30,967-8.

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In new Part 347 of the Commission's regulations, the Commission

proposes to require the following information to justify a request for

either new or changed carrier account depreciation rates:

a. A brief summary of the general principles on which the proposed

depreciation rates are based (e.g., why the economic life of the

pipeline section is less than the physical life).

b. An explanation of the organization, ownership, and operation of

the pipeline.

c. A table of the proposed depreciation rates by primary carrier

account.

d. An explanation of the average remaining life on a physical basis

and on an economic basis.

e. The following specific background data would be submitted

concurrently with any request for new or changed property account

depreciation rates for oil pipelines:\31\

---------------------------------------------------------------------------

\31\All of the information listed here may not be appropriate

and thus could be omitted from the filing. For example, if the

pipeline carries only crude oil, information requested concerning

petroleum products would not be needed.

---------------------------------------------------------------------------

(1) Up-to-date engineering maps of the pipeline including the

location of all gathering facilities, trunkline facilities, terminals,

interconnections with other pipeline systems, and interconnections with

refineries/plants. These maps must indicate the direction of flow.

(2) A brief description of the pipeline's operations and an

estimate of any major near-term additions or retirements including the

estimated costs, location, reason, and probable year of transaction.

(3) The present depreciation rates being used, by account.

(4) For the most current year available and for the two prior

years, a breakdown of the throughput (by type of product, if

applicable) received from each source (e.g., name of well, pipeline

company) at each receipt point and throughput delivered at each

delivery point.

(5) The daily average throughput (in barrels per day) and the

actual average capacity (in barrels per day) for the most current year,

by line section.

(6) A list of shippers and their associated receipt points,

delivery points, and volumes (in barrels) by type of product (where

applicable) for the most current year.

(7) For each primary carrier account, the latest month's book

balances for gross plant and accumulated reserve for depreciation.

(8) An estimate of the remaining life of the system (both gathering

and trunk lines) including the basis for the estimate.

(9) For crude oil, a list of the fields or areas from which crude

oil is obtained and the most recent estimated reserves, actual

production for the previous three years, and five years of estimated

future production.

(10) If the proposed depreciation rate adjustment is based on the

remaining physical life of the properties, the Service Life Data Form

(FERC Form No. 73) through the most current year. This may only require

an updating from the last year for which information was filed with the

Commission.

(11) Estimated salvage value of properties by primary carrier

account.

An oil pipeline company would be required to provide this, and any

other information it deems pertinent, in sufficient detail to fully

explain and justify its proposed rates. Any modifications, additions,

and deletions to these data elements should be made to reflect the

individual circumstances of the pipeline's properties and operations,

and should be accompanied by a full explanation of why the

modifications, additions, or deletions are being made.

V. Environmental Analysis

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.\32\ The Commission

has categorically excluded certain actions from these requirements as

not having a significant effect on the human environment.\33\ The

action proposed here is procedural in nature and therefore falls within

the categorical exclusions provided in the Commission's

regulations.\34\ Therefore, neither an environmental impact statement

nor an environmental assessment is necessary and will not be prepared

in this rulemaking.

---------------------------------------------------------------------------

\32\Order No. 486, Regulations Implementing the National

Environmental Policy Act, 52 FR 47897 (Dec. 17, 1987), FERC Statutes

and Regulations, Regulations Preambles 1986-1990 30,783 (1987).

\33\18 CFR 380.4.

\34\See 18 CFR Sec. 380.4(a)(2)(ii).

---------------------------------------------------------------------------

VI. Regulatory Flexibility Act Certification

The Regulatory Flexibility Act (RFA)\35\ generally requires the

Commission to describe the impact that a proposed rule would have on

small entities or to certify that the rule will not have a significant

economic impact on a substantial number of small entities. An analysis

is not required if a proposed rule will not have such an impact.\36\

Most oil pipelines to whom the proposed rule would apply do not fall

within the definition of small entity.\37\ In fact, the reporting

thresholds for numerous of the revised schedules in FERC Form No. 6 are

proposed to be raised, which may exclude certain small entities from

completing those schedules. Consequently, pursuant to section 605(b) of

the RFA, the Commission certifies that the proposed regulations, if

promulgated, will not have a significant adverse impact on a

substantial number of small entities.

---------------------------------------------------------------------------

\35\5 U.S.C. Secs. 601-612 (1988)

\36\Section 605(b)

\37\Section 601(c) of the RFA defines a ``small entity'' as a

small business, a small not-for-profit enterprise, or a small

governmental jurisdiction. A ``small business'' is defined by

reference to section 3 of the Small Business Act as an enterprise

which is ``independently owned and operated and which is not

dominant in its field of operation.'' 15 U.S.C. Sec. 632(a).

---------------------------------------------------------------------------

VII. Information Collection Requirements

The Office of Management and Budget's (OMB) regulations at 5 C.F.R.

Sec. 1320.13 (footnote) require that OMB approve certain information

and recordkeeping requirements imposed by an agency. The information

collection requirements in this proposed rule are contained in FERC-6

``Annual Report of Oil Pipeline Companies'' (1902-0022) and FERC-550

``Oil Pipeline Rates: Tariff Filings'' (1902-0089).

The Commission uses the data collected in these information

requirements to carry out its regulatory responsibilities pursuant to

the Interstate Commerce Act (ICA), the Act of 1992, and delegations to

the Commission from the Secretary of Energy. The Commission's Office of

Pipeline Regulation uses the data for the analysis of all rates, fares,

or charges demanded, charged, or collected by any common carriers in

connection with the transportation of petroleum and petroleum products

and also as a basis for determining just and reasonable rates that

should be charged by the regulated pipeline company.

The Office of Economic Policy and the Office of General Counsel use

the data in their functions relating to the administration of the ICA

and the Act of 1992. The Commission's Office of Chief Accountant uses

the data collected in Form No. 6 to carry out its compliance audits and

for continuous review of the financial conditions of regulated

companies.

Because of the proposed revisions to both FERC-550 and Form No. 6,

and the expected reduction in public reporting burden of the latter,

the Commission is submitting a copy of the proposed rule to OMB for its

review and approval. Interested persons may obtain information on these

reporting requirements by contracting the Federal Energy Regulatory

Commission, 941 North Capitol Street, NE, Washington, DC 20426

[Attention: Michael Miller, Information Services Division, (202) 208-

1415]. Comments on the requirements of this rule can be sent to the

Office of Information and Regulatory Affairs of OMB (Attention: Desk

Officer for Federal Energy Regulatory Commission), Washington, DC

20503, FAX: (202) 395-5167.

VIII. Comment Procedures

Copies of this notice of proposed rulemaking can be obtained from

the Office of Public Information, Room 3104, 941 North Capitol Street,

NE., Washington, DC 20426. Any person desiring to file comments should

submit an original and fourteen (14) copies of such comments to the

Federal Energy Regulatory Commission, 825 North Capitol Street, NE.,

Washington, DC 20426 not later than 30 days after the date of

publication of this notice of proposed rulemaking in the Federal

Register.

The full text of this notice of proposed rulemaking, excluding the

revised Form No. 6 schedules, also is available through the Commission

Issuance Posting System (CIPS), an electronic bulletin board service,

which provides access to the text of formal documents issued by the

Commission. CIPS is available at no charge to the user and may be

accessed using a personal computer with a modem by dialing (202) 208-

1397. To access CIPS, communications software should be set to use 300,

1200, or 2400 bps, full duplex, no parity, 8 data bits, and 1 stop bit.

CIPS can also be accessed at 9600 bps by dialing (202) 208-1781. The

full text of this notice will be available on CIPS for 30 days from the

date of issuance. Paper copies of the Appendix may be obtained from the

Office of Public Information. The complete text, excluding the revised

Form No. 6 schedules, on diskette in WordPerfect format may also be

purchased from the Commission's copy contractor, La Dorn Systems

Corporation, also located in Room 3104, 941 North Capitol Street, NE.,

Washington, DC 20426.

List of Subjects in 18 CFR Parts 342, 346, 347, and 357

Pipelines, Reporting and recordkeeping requirements.

List of Subjects in 18 CFR Part 385

Reporting and recordkeeping requirements.

In consideration of the foregoing, the Commission gives notice of

its proposal to amend Parts 342, 357, and 385, and to add parts 346 and

347, chapter I, title 18, Code of Federal Regulations, as set forth

below.

By direction of the Commission.

Lois D. Cashell,

Secretary.

PART 342--OIL PIPELINE RATE METHODOLOGIES AND PROCEDURES

1. The authority citation for Part 342 continues to read as

follows:

Authority: 5 U.S.C. 571-83; 42 U.S.C. 7101-7532; 49 App. U.S.C.

1-85; 42 U.S.C. 7172 note.

2. Sections 342.2(a), 342.3(b) and 342.4(a) are proposed to be

revised as follows:

Sec. 342.2 Establishing initial rates.

* * * * *

(a) Filing cost, revenue, and throughput data supporting such rate

as required by part 346; or

* * * * *

Sec. 342.3 Indexing.

* * * * *

(b) Information required to be filed with rate changes. The carrier

must comply with part 341 of this chapter.

(1) Carriers must specify in their letters of transmittal required

in Sec. 341.2(c) of this chapter the rate schedule to be changed, the

proposed new rate, the prior rate, and the applicable ceiling level for

the movement. No other rate information is required to accompany the

proposed rate change.

(2) Carriers must file a verified copy of a schedule for calendar

years 1993 and 1994 containing the information required by page 700 of

the 1995 edition of FERC Form No. 6 concurrently with the first indexed

rate change filing made by a carrier on or after January 1, 1995, or by

March 31, 1995, whichever occurs first. If actual data are not

available for calendar year 1994 when the rate change filing is made,

the information for calendar year 1994 must be comprised of the most

recently available actual data annualized for the year 1994. A schedule

containing the information comprised of actual data for calendar year

1994 must be filed not later than March 31, 1995.

* * * * *

Sec. 342.4 Other rate changing methodologies.

(a) Cost-of-service rates. A carrier may change a rate pursuant to

this section if it shows that there is a substantial divergence between

the actual costs experienced by the carrier and the rate resulting from

application of the index such that the rate at the ceiling level would

preclude the carrier from being able to charge a just and reasonable

rate within the meaning of the Interstate Commerce Act. A carrier must

substantiate the cost incurred by filing the data required by part 346.

A carrier that makes such a showing may change the rate in question,

based upon the cost of providing the service covered by the rate,

without regard to the applicable ceiling level under Sec. 342.3.

* * * * *

3. In subchapter P, chapter I, title 18, Code of Federal

Regulations, part 346 is proposed to be added to read as follows:

PART 346--OIL PIPELINE COST-OF-SERVICE FILING REQUIREMENTS

Sec.

346.1 Content of Filing for Cost-of-Service Rates.

346.2 Material in support of initial rates or change in rates.

Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27.

Sec. 346.1 Content of filing for cost-of-service rates.

(a) If a carrier seeks to establish rates pursuant to

Sec. 342.2(a), of this chapter, or if a carrier seeks to change rates

pursuant to Sec. 342.4(a), of this chapter, it must file and provide

supporting justification as set forth in this part.

(b) The carrier must file a letter of transmittal which conforms to

Secs. 341.2(c) and 342.4(a) of this chapter; the proposed tariff; and

the statements and supporting workpapers required in Sec. 346.2.

Sec. 346.2 Material in support of initial rates or change in rates.

A carrier which files for rates in accordance with Sec. 342.2(a) or

Sec. 342.4(a) of this Chapter must file the following statements,

schedules, and all supporting workpapers. The statements, schedules,

and workpapers must be based upon an appropriate test period.

(a) Base and test periods defined.

(1) For a carrier which has been in operation for at least twelve

months:

(i) A base period must consist of 12 consecutive months of actual

experience. The 12 months of experience must be adjusted to eliminate

nonrecurring items (except minor accounts). The filing carrier may

include appropriate normalizing adjustments in lieu of nonrecurring

items.

(ii) A test period must consist of a base period adjusted for

changes in revenues and costs which are known and are measurable with

reasonable accuracy at the time of filing and which will become

effective within nine months after the last month of available actual

experience utilized in the filing. For good cause shown, the Commission

may allow reasonable deviation from the prescribed test period.

(2) For a carrier which has less than 12 months' experience, the

test period may consist of 12 consecutive months ending not more than

one year from the filing date. For good cause shown, the Commission may

allow reasonable deviation from the prescribed test period.

(3) For a carrier which is establishing rates for new service, the

test period will be based on a 12-month projection of costs and

revenues.

(b) Cost-of-service summary schedule. This schedule must contain

the following information:

(1) Total carrier cost of service for the test period.

(2) Throughput for the test period in both barrels and barrels-

miles.

(3) For filings in accordance with Sec. 342.4(a) of this chapter,

the schedule must include the proposed rates and the rates which would

be permitted under Sec. 342.3 of this chapter, and the revenues to be

realized from both sets of rates.

(c) Content of statements. Any cost-of-service rate filing must

include supporting statements containing the following information for

the test period.

(1) Statement A--total cost of service. This statement must

summarize the total cost of service for a carrier (operating and

maintenance expense, depreciation and amortization, return, and taxes)

developed from the supporting statements described below.

(2) Statement B--operation and maintenance expense. This statement

must set forth the operation, maintenance, administration and general,

and depreciation expenses for the test period. Items used in the

computations or derived on this statement must include operations,

including salaries and wages, supplies and expenses, outside services,

operating fuel and power, and oil losses and shortages; maintenance,

including salaries and wages, supplies and expenses, outside services,

and maintenance and materials; administrative and general, including

salaries and wages, supplies and expenses, outside services, rentals,

pensions and benefits, insurance, casualty and other losses, and

pipeline taxes; and depreciation and amortization.

(3) Statement C--overall return on rate base. This statement must

set forth the rate base for return purposes from Statement E and must

also state the claimed rate of return and the application of the

claimed rate of return to the overall rate base. The claimed rate of

return must consist of a weighted cost of capital, combining the rate

of return on debt capital and the real rate of return on equity

capital. Items used in the computations or derived on this statement

must include deferred earnings, equity ratio, debt ratio, weighted cost

of capital, and costs of debt and equity.

(4) Statement D--income taxes. This statement must set forth the

income tax computation. Items used in the computations or derived on

this statement must show: return allowance, interest expense, return on

equity rate base, accrued annual amortization or deferred earnings,

depreciation on equity AFUDC, under/over-funded ADIT amortization

amount, taxable income, tax factor, and income tax allowance.

(5) Statement E--rate base. This statement must set forth the

return rate base. Items used in the computations or derived on this

statement must include beginning balances of the rate base at December

31, 1983, working capital (including materials and supplies,

prepayments, and oil inventory), accrued depreciation on carrier plant,

accrued depreciation on rights of way, and accumulated deferred income

taxes; and adjustments and end balances for original cost of

retirements, interest during construction, AFUDC adjustments, original

cost of net additions and retirements from land, original cost of net

additions and retirements from rights of way, original cost of plant

additions, original cost accruals for depreciation, AFUDC accrued

depreciation adjustment, original cost depreciation accruals added to

rights of way, net charge for retirements from accrued depreciation,

accumulated deferred income taxes, changes in working capital

(including materials and supplies, prepayments, and oil inventory),

accrued deferred earnings, annual amortization of accrued deferred

earnings, and amortization of starting rate base write-up.

(6) Statement F--allowance for funds used during construction. This

statement must set forth the computation of allowances for funds used

during construction (AFUDC) including the AFUDC for each year

commencing in 1984 and a summary of AFUDC and AFUDC depreciation for

the years 1984 through the test year.

(7) Statement G--revenues. This statement must set forth the gross

revenues for the actual 12 months of experience as computed under both

the presently effective rates and the proposed rates. If the presently

effective rates are not at the maximum ceiling rate established under

Sec. 342.4(a) of this chapter, then gross revenues must also be

computed and set forth as if the ceiling rates were effective for the

12 month period.

4. In subchapter P, chapter I, title 18, Code of Federal

Regulations, Part 347 is proposed to be added to read as follows:

PART 347--OIL PIPELINE DEPRECIATION STUDIES

Sec.

347.1 Material to support request for newly established or changed

property account depreciation studies.

Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27.

Sec. 347.1 Material to support request for newly established or

changed property account depreciation studies.

(a) Means of filing. Filing of a request for new or changed

property account depreciation rates must be made with the Secretary of

the Commission. Filings made by mail must be addressed to the Federal

Energy Regulatory Commission with the envelope clearly marked as

containing ``Oil Pipeline Depreciation Rates.''

(b) Number of copies. Carriers must file three paper copies of each

request with attendant information identified below.

(c) Transmittal letter. Letters of transmittal must give a general

description of the change in depreciation rates being proposed in the

filing. Letters of transmittal must also certify that the letter of

transmittal (not including the information to be provided, as

identified below) has been sent to each shipper and to each subscriber.

If there are no subscribers, letters of transmittal must so state.

Carriers requesting acknowledgement of the receipt of a filing by mail

must submit a duplicate copy of the letter of transmittal marked

``Receipt requested.'' The request must include a postage paid, self-

addressed return envelope.

(d) Effectiveness of property account depreciation rates.

(1) The proposed depreciation rates being established in the first

instance must be used until they are either accepted or modified by the

Commission. Rates in effect at the time of the proposed revision must

continue to be used until the proposed revised rates are approved or

modified by the Commission.

(2) When filing for approval of either new or changed property

account depreciation rates, a carrier must provide information in

sufficient detail to fully explain and justify its proposed rates.

(e) Information to be provided. The items delineated below are the

data to be provided as justification for depreciation changes.

Modifications, additions, and deletions to these data elements should

be made to reflect the individual circumstances of the carrier's

properties and operations.

(1) A brief summary relating the general principles on which the

proposed depreciation rates are based (e.g., why the economic life of

the pipeline section is less then the physical life).

(2) An explanation of the organization, ownership, and operation of

the pipeline.

(3) A table of the proposed depreciation rates by account.

(4) An explanation of the average remaining life on a physical

basis and on an economic basis.

(5) The following specific background data must be submitted at the

time of and concurrently with any request for the establishment of, or

modification to, depreciation rates for carriers. If the information

listed is not applicable, it may be omitted from the filing:

(i) Up-to-date engineering maps of the pipeline including the

location of all gathering facilities, trunkline facilities, terminals,

interconnections with the other pipeline systems, and interconnections

with refineries/plants. Maps must indicate the direction of flow.

(ii) A brief description of the carrier's operations and an

estimate of any major near-term additions or retirements including the

estimated costs, location, reason, and probable year of transaction.

(iii) The present depreciation rates being used by account.

(iv) For the most current year available and for the two prior

years, a breakdown of the throughput (by type of product, if

applicable) received with source (e.g. name of well, pipeline company)

at each receipt point and throughput delivered at each delivery point.

(v) The daily average capacity (in barrels per day) and the actual

average capacity (in barrels per day) for the most current year, by

line section.

(vi) A list of shippers and their associated receipt points,

delivery points, and volumes (in barrels) by type of product (where

applicable) for the most current year.

(vii) For each primary carrier account, the latest month's book

balances for gross plant and for accumulated reserve for depreciation.

(viii) An estimate of the remaining life of the system (both

gathering and trunk lines) including the basis for the estimate.

(ix) For crude oil, a list of the fields or areas from which crude

oil is obtained and the most recent estimated reserves, actual

production for the previous three years, and five years of estimated

future production.

(x) If the proposed depreciation rate adjustment is based on the

remaining physical life of the properties, a complete, or updated, if

applicable, Service Life Date Form (FERC Form No. 73) through the most

current year.

(xi) Estimated salvage value of properties by account.

PART 357--ANNUAL SPECIAL OR PERIODIC REPORTS: CARRIERS SUBJECT TO

PART I OF THE INTERSTATE COMMERCE ACT

5. The authority citation for Part 357 is proposed to be revised to

read as follows:

Authority: 42 U.S.C. 7101-7352; 49 U.S.C. 1-27 (1976).

6. Section 357.2 is revised to read as follows:

Sec. 357.2 FERC Form No. 6, Annual Report of Oil Pipeline Companies.

Every carrier pipeline subject to the provisions of section 20 of

the Interstate Commerce Act must file with the Commission FERC Form No.

6, ``Annual Report of Oil Pipeline Companies,'' in the manner

prescribed in Sec. 385.2011 of this chapter and as indicated in the

general instructions set out in this report form. This report must be

filed on or before March 31st of each year for the previous calendar

year, and must be properly completed and verified.

PART 385--RULES OF PRACTICE AND PROCEDURE

7. The authority citation for Part 385 continues to read as

follows:

Authority: 5 U.S.C. 551-557; 15 U.S.C. 717-717w, 3301-3432; 16

U.S.C. 792-825r, 2601-2605; 31 U.S.C. 9701; 42 U.S.C. 7101-7352; 49

U.S.C. 1-27.

8. Section 385.2011, paragraph (a), is proposed to be amended by

redesignating paragraphs (a)(3) through (a)(5) as paragraphs (a)(4)

through (a)(6), and adding a new paragraph (a)(3) as follows:

Sec. 385.2011 Procedures for filing on electronic media.

(a) * * *

(3) FERC Form No. 6, Annual Report of Oil Pipeline Companies.

* * * * *

Appendix to the Proposed Rule

Note: This appendix is not being published in full in the

Federal Register, but is available from the Commission's Public

Reference Room.

Appendix A--Revised Sheets for Form No. 6: Annual Report of Oil

Pipeline Companies

This Appendix A contains the pages from Form No. 6 which are

proposed to be revised in the Commission's Notice Of Proposed

Rulemaking, Docket No. RM94-2-000.

[FR Doc. 94-18871 Filed 8-8-94; 8:45 am]

BILLING CODE 6717-01-M