18 C.F.R. § 366.22 Accounts and records of service companies.
Title 18 - Conservation of Power and Water Resources
(a) Record-retention requirements.—(1) General. Unless otherwise exempted or granted a waiver by Commission rule or order pursuant to §§366.3 and 366.4, beginning January 1, 2007, every service company shall maintain and make available to the Commission such books, accounts, memoranda, and other records in such manner, and preserve them for such periods as the Commission prescribes in parts 125 and 225 of this chapter, in sufficient detail to permit examination, audit, and verification, as necessary and appropriate for the protection of utility customers with respect to jurisdictional rates. (2) Transition period. Until December 31, 2006, service companies in holding company systems registered under the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a et seq.) may follow either the Commission's record-retention requirements in parts 125 and 225 of this chapter or the Securities and Exchange Commission's record-retention rules in 17 CFR part 257. (3) Nothing in this section shall relieve any service company subject thereto from compliance with requirements as to record-retention that may be prescribed by any other regulatory agency. (b) Accounting requirements.—(1) General. Unless otherwise exempted or granted a waiver by Commission rule or order pursuant to §§366.3 and 366.4, beginning January 1, 2007, every service company that is not a special-purpose company (e.g., a fuel supply company or a construction company) shall maintain and make available to the Commission such books, accounts, memoranda, and other records as the Commission prescribes in parts 101 and 201 of this chapter, in sufficient detail to permit examination, audit, and verification, as necessary and appropriate for the protection of utility customers with respect to jurisdictional rates. Every such service company shall maintain and make available such books, accounts, memoranda, and other records in such manner as are prescribed in parts 101 and 201 of this chapter, and shall keep no other records with respect to the same subject matter except: (i) Records other than accounts; (ii) Records required by federal or state law; (iii) Subaccounts or supporting accounts which are not inconsistent with the accounts required either by the Uniform System of Accounts in parts 101 and 201 of this chapter; and (iv) Such other accounts as may be authorized by the Commission. (2) Transition period. Until December 31, 2006, service companies in holding company systems registered under the Public Utility Holding Company Act of 1935 (15 U.S.C. 79a et seq.), as described in paragraph (b)(1) of this section, may follow either the Commission's Uniform System of Accounts in parts 101 and 201 of this chapter or the Securities and Exchange Commission's Uniform System of Accounts in 17 CFR part 256. (3) Nothing in this section shall relieve any service company subject thereto from compliance with requirements as to accounting that may be prescribed by any other regulatory agency.
Title 18: Conservation of Power and Water Resources
PART 366—PUBLIC UTILITY HOLDING COMPANY ACT OF 2005
Subpart B—PUHCA 2005 Accounting and Recordkeeping
§ 366.22 Accounts and records of service companies.
