Change NFG's Tariff No. 9 and Associated Accounting Issues Related to the 2017 Tax Act
NY-ADR
6/27/18 N.Y. St. Reg. PSC-26-18-00010-P
NEW YORK STATE REGISTER
VOLUME XL, ISSUE 26
June 27, 2018
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-26-18-00010-P
Change NFG's Tariff No. 9 and Associated Accounting Issues Related to the 2017 Tax Act
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Commission is considering a petition filed by National Fuel Gas Distribution Corporation (NFG) proposing to provide a customer refund and reduce rates, effective on October 1, 2018, resulting from the 2017 Federal Tax Cuts and Job Act.
Statutory authority:
Public Service Law, section 66
Subject:
Change NFG's Tariff No. 9 and associated accounting issues related to the 2017 Tax Act.
Purpose:
Determine if NFG's proposal to provide a refund net of an equity ratio adjustment is appropriate.
Substance of proposed rule:
The Public Service Commission (Commission) is considering a petition filed by the National Fuel Gas Distribution Corporation (the Company) on June 4, 2018. Due to the Tax Cuts and Jobs Act of 2017, the Company requests authorization to implement a customer refund program to return to customers the net effect of the recent federal income tax rate reduction, amend Tariff Section 0, Leaf 150 to permit the implementation of the customer refund program, and allow for the recovery of the improvements to the Company’s equity ratio directly related to the federal tax law change. The Company is requesting the Commission grant the relief requested on an expedited basis in order to institute the customer refund program before the onset of the 2018-2019 winter heating season. The Company’s proposed tariff amendment has an effective date October 1, 2018. The Commission is generically considering similar issues for all applicable utilities in Case 17-M-0815. The full text of the petition and the full record of the proceeding may be reviewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may adopt, reject, or modify, in whole or in part, the action proposed and may resolve related matters.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:
John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Kathleen H. Burgess, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
60 days after publication of this notice.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(18-G-0337SP1)
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