15 U.S.C. § 717h : US Code - Section 717H: Rates of depreciation

Search 15 U.S.C. § 717h : US Code - Section 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.