§ 717h. — Rates of depreciation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC717h]
TITLE 15--COMMERCE AND TRADE
CHAPTER 15B--NATURAL GAS
Sec. 717h. Rates of depreciation
(a) Depreciation and amortization
The Commission may, after hearing, require natural-gas companies to
carry proper and adequate depreciation and amortization accounts in
accordance with such rules, regulations, and forms of account as the
Commission may prescribe. The Commission may from time to time ascertain
and determine, and by order fix, the proper and adequate rates of
depreciation and amortization of the several classes of property of each
natural-gas company used or useful in the production, transportation, or
sale of natural gas. Each natural-gas company shall conform its
depreciation and amortization accounts to the rates so ascertained,
determined, and fixed. No natural-gas company subject to the
jurisdiction of the Commission shall charge to operating expenses any
depreciation or amortization charges on classes of property other than
those prescribed by the Commission, or charge with respect to any class
of property a percentage of depreciation or amortization other than that
prescribed therefor by the Commission. No such natural-gas company shall
in any case include in any form under its operating or other expenses
any depreciation, amortization, or other charge or expenditure included
elsewhere as a depreciation or amortization charge or otherwise under
its operating or other expenses. Nothing in this section shall limit the
power of a State commission to determine in the exercise of its
jurisdiction, with respect to any natural-gas company, the percentage
rates of depreciation or amortization to be allowed, as to any class of
property of such natural-gas company, or the composite depreciation or
amortization rate, for the purpose of determining rates or charges.
(b) Rules
The Commission, before prescribing any rules or requirements as to
accounts, records, or memoranda, or as to depreciation or amortization
rates, shall notify each State commission having jurisdiction with
respect to any natural-gas company involved and shall give reasonable
opportunity to each such commission to present its views and shall
receive and consider such views and recommendations.
(June 21, 1938, ch. 556, Sec. 9, 52 Stat. 826.)
Transfer of Functions
Federal Power Commission terminated and functions, personnel,
property, funds, etc., transferred to Secretary of Energy (except for
certain functions transferred to Federal Energy Regulatory Commission)
by sections 7151(b), 7171(a), 7172(a), 7291, and 7293 of Title 42, The
Public Health and Welfare.
For transfer of functions of Federal Power Commission, with certain
reservations, to Chairman of such Commission, see Reorg. Plan No. 9 of
1950, Secs. 1, 2, eff. May 24, 1950, 15 F.R. 3175, 64 Stat. 1265, set
out in the Appendix to Title 5, Government Organization and Employees.
Section Referred to in Other Sections
This section is referred to in title 42 section 7172.
