16 U.S.C. § 825 — Accounts and records

Page 1437 TITLE 16—CONSERVATION § 825 has entered into a contract for the sale of elec- tric energy at wholesale or transmission service subject to the jurisdiction of the Commission has engaged in fraudulent market manipulation activities materially affecting the contract in violation of section 824v of this title. (f) ERCOT utilities This section shall not apply to a transaction for the purchase or sale of wholesale electric en- ergy or transmission services within the area described in section 824k(k)(2)(A) of this title. (June 10, 1920, ch. 285, pt. II, § 220, as added Pub. L. 109–58, title XII, § 1281, Aug. 8, 2005, 119 Stat. 978.) Editorial Notes REFERENCES IN TEXT The Commodity Exchange Act, referred to in subsec. (c)(2), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables. § 824u. Prohibition on filing false information No entity (including an entity described in section 824(f) of this title) shall willfully and knowingly report any information relating to the price of electricity sold at wholesale or the availability of transmission capacity, which in- formation the person or any other entity knew to be false at the time of the reporting, to a Fed- eral agency with intent to fraudulently affect the data being compiled by the Federal agency. (June 10, 1920, ch. 285, pt. II, § 221, as added Pub. L. 109–58, title XII, § 1282, Aug. 8, 2005, 119 Stat. 979.) § 824v. Prohibition of energy market manipula- tion (a) In general It shall be unlawful for any entity (including an entity described in section 824(f) of this title), directly or indirectly, to use or employ, in con- nection with the purchase or sale of electric en- ergy or the purchase or sale of transmission services subject to the jurisdiction of the Com- mission, any manipulative or deceptive device or contrivance (as those terms are used in sec- tion 78j(b) of title 15), in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the pub- lic interest or for the protection of electric rate- payers. (b) No private right of action Nothing in this section shall be construed to create a private right of action. (June 10, 1920, ch. 285, pt. II, § 222, as added Pub. L. 109–58, title XII, § 1283, Aug. 8, 2005, 119 Stat. 979.) § 824w. Joint boards on economic dispatch (a) In general The Commission shall convene joint boards on a regional basis pursuant to section 824h of this title to study the issue of security constrained economic dispatch for the various market re- gions. The Commission shall designate the ap- propriate regions to be covered by each such joint board for purposes of this section. (b) Membership The Commission shall request each State to nominate a representative for the appropriate regional joint board, and shall designate a mem- ber of the Commission to chair and participate as a member of each such board. (c) Powers The sole authority of each joint board con- vened under this section shall be to consider issues relevant to what constitutes ‘‘security constrained economic dispatch’’ and how such a mode of operating an electric energy system af- fects or enhances the reliability and afford- ability of service to customers in the region con- cerned and to make recommendations to the Commission regarding such issues. (d) Report to the Congress Within 1 year after August 8, 2005, the Com- mission shall issue a report and submit such re- port to the Congress regarding the recommenda- tions of the joint boards under this section and the Commission may consolidate the rec- ommendations of more than one such regional joint board, including any consensus rec- ommendations for statutory or regulatory re- form. (June 10, 1920, ch. 285, pt. II, § 223, as added Pub. L. 109–58, title XII, § 1298, Aug. 8, 2005, 119 Stat. 986.) SUBCHAPTER III—LICENSEES AND PUBLIC UTILITIES; PROCEDURAL AND ADMINIS- TRATIVE PROVISIONS § 825. Accounts and records (a) Duty to keep Every licensee and public utility shall make, keep, and preserve for such periods, such ac- counts, records of cost-accounting procedures, correspondence, memoranda, papers, books, and other records as the Commission may by rules and regulations prescribe as necessary or appro- priate for purposes of the administration of this chapter, including accounts, records, and memo- randa of the generation, transmission, distribu- tion, delivery, or sale of electric energy, the fur- nishing of services or facilities in connection therewith, and receipts and expenditures with respect to any of the foregoing: Provided, how- ever, That nothing in this chapter shall relieve any public utility from keeping any accounts, memoranda, or records which such public utility may be required to keep by or under authority of the laws of any State. The Commission may prescribe a system of accounts to be kept by li- censees and public utilities and may classify such licensees and public utilities and prescribe a system of accounts for each class. The Com- mission, after notice and opportunity for hear- ing, may determine by order the accounts in which particular outlays and receipts shall be entered, charged, or credited. The burden of proof to justify every accounting entry ques- tioned by the Commission shall be on the person making, authorizing, or requiring such entry, Page 1438 TITLE 16—CONSERVATION § 825a and the Commission may suspend a charge or credit pending submission of satisfactory proof in support thereof. (b) Access to and examination by the Commis- sion The Commission shall at all times have access to and the right to inspect and examine all ac- counts, records, and memoranda of licensees and public utilities, and it shall be the duty of such licensees and public utilities to furnish to the Commission, within such reasonable time as the Commission may order, any information with respect thereto which the Commission may by order require, including copies of maps, con- tracts, reports of engineers, and other data, records, and papers, and to grant to all agents of the Commission free access to its property and its accounts, records, and memoranda when re- quested so to do. No member, officer, or em- ployee of the Commission shall divulge any fact or information which may come to his knowl- edge during the course of examination of books or other accounts, as hereinbefore provided, ex- cept insofar as he may be directed by the Com- mission or by a court. (c) Controlling individual The books, accounts, memoranda, and records of any person who controls, directly or indi- rectly, a licensee or public utility subject to the jurisdiction of the Commission, and of any other company controlled by such person, insofar as they relate to transactions with or the business of such licensee or public utility, shall be sub- ject to examination on the order of the Commis- sion. (June 10, 1920, ch. 285, pt. III, § 301, as added Aug. 26, 1935, ch. 687, title II, § 213, 49 Stat. 854.) § 825a. Rates of depreciation; notice to State au- thorities before fixing (a) The Commission may, after hearing, re- quire licensees and public utilities to carry a proper and adequate depreciation account in ac- cordance with such rules, regulations, and forms of account as the Commission may prescribe. The Commission may, from time to time, ascer- tain and determine, and by order fix, the proper and adequate rates of depreciation of the several classes of property of each licensee and public utility. Each licensee and public utility shall conform its depreciation accounts to the rates so ascertained, determined, and fixed. The li- censees and public utilities subject to the juris- diction of the Commission shall not charge to operating expenses any depreciation charges on classes of property other than those prescribed by the Commission, or charge with respect to any class of property a percentage of deprecia- tion other than that prescribed therefor by the Commission. No such licensee or public utility shall in any case include in any form under its operating or other expenses any depreciation or other charge or expenditure included elsewhere as a depreciation charge or otherwise under its operating or other expenses. Nothing in this sec- tion shall limit the power of a State commission to determine in the exercise of its jurisdiction, with respect to any public utility, the percent- age rate of depreciation to be allowed, as to any class of property of such public utility, or the composite depreciation rate, for the purpose of determining rates or charges. (b) The Commission, before prescribing any rules or requirements as to accounts, records, or memoranda, or as to depreciation rates, shall notify each State commission having jurisdic- tion with respect to any public utility involved, and shall give reasonable opportunity to each such commission to present its views, and shall receive and consider such views and rec- ommendations. (June 10, 1920, ch. 285, pt. III, § 302, as added Aug. 26, 1935, ch. 687, title II, § 213, 49 Stat. 855.) § 825b. Requirements applicable to agencies of United States All agencies of the United States engaged in the generation and sale of electric energy for ul- timate distribution to the public shall be sub- ject, as to all facilities used for such generation and sale, and as to the electric energy sold by such agency, to the provisions of sections 825 and 825a of this title, so far as may be prac- ticable, and shall comply with the provisions of such sections and with the rules and regulations of the Commission thereunder to the same ex- tent as may be required in the case of a public utility. (June 10, 1920, ch. 285, pt. III, § 303, as added Aug. 26, 1935, ch. 687, title II, § 213, 49 Stat. 855.) § 825c. Periodic and special reports; obstructing filing reports or keeping accounts, etc. (a) Every licensee and every public utility shall file with the Commission such annual and other periodic or special reports as the Commis- sion may by rules and regulations or order pre- scribe as necessary or appropriate to assist the Commission in the proper administration of this chapter. The Commission may prescribe the manner and form in which such reports shall be made, and require from such persons specific an- swers to all questions upon which the Commis- sion may need information. The Commission may require that such reports shall include, among other things, full information as to as- sets and liabilities, capitalization, net invest- ment, and reduction thereof, gross receipts, in- terest due and paid, depreciation, and other re- serves, cost of project and other facilities, cost of maintenance and operation of the project and other facilities, cost of renewals and replace- ment of the project works and other facilities, depreciation, generation, transmission, distribu- tion, delivery, use, and sale of electric energy. The Commission may require any such person to make adequate provision for currently deter- mining such costs and other facts. Such reports shall be made under oath unless the Commission otherwise specifies. (b) It shall be unlawful for any person willfully to hinder, delay, or obstruct the making, filing, or keeping of any information, document, re- port, memorandum, record, or account required to be made, filed, or kept under this chapter or any rule, regulation, or order thereunder. (June 10, 1920, ch. 285, pt. III, § 304, as added Aug. 26, 1935, ch. 687, title II, § 213, 49 Stat. 855.)