16 U.S.C. § 825a : US Code - Section 825A: Rates of depreciation; notice to State authorities before fixing

Search 16 U.S.C. § 825a : US Code - Section 825A: Rates of depreciation; notice to State authorities before fixing

(a) The Commission may, after hearing, require licensees and
public utilities to carry a proper and adequate depreciation
account 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 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 licensees and public
utilities subject to the jurisdiction 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 depreciation
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
section shall limit the power of a State commission to determine in
the exercise of its jurisdiction, with respect to any public
utility, the percentage 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 jurisdiction 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 recommendations.