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Commission Information Collection Activities (FERC-552); Comment Request; Extension

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AGENCY:

Federal Energy Regulatory Commission.

ACTION:

Notice of information collection and request for comments.

SUMMARY:

In compliance with the requirements of the Paperwork Reduction Act of 1995, 44 U.S.C. 3506(c)(2)(A), the Federal Energy Regulatory Commission is soliciting public comment on the currently approved information collection, FERC-552, Annual Report of Natural Gas Transactions.

DATES:

Comments on the collection of information are due May 29, 2012.

ADDRESSES:

You may submit comments (identified by Docket No. IC12-9-000) by either of the following methods:

Instructions: All submissions must be formatted and filed in accordance with submission guidelines at: http://www.ferc.gov/​help/​submission-guide.asp. For user assistance contact FERC Online Support by email at ferconlinesupport@ferc.gov, or by phone at: (866) 208-3676 (toll-free), or (202) 502-8659 for TTY.

Docket: Users interested in receiving automatic notification of activity in this docket or in viewing/downloading comments and issuances in this docket may do so at http://www.ferc.gov/​docs-filing/​docs-filing.asp.

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FOR FURTHER INFORMATION CONTACT:

Ellen Brown may be reached by email at DataClearance@FERC.gov, telephone at (202) 502-8663, and fax at (202) 273-0873.

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SUPPLEMENTARY INFORMATION:

Title: FERC-552, Annual Report of Natural Gas Transactions.

OMB Control No.: 1902-0242.

Type of Request: Three-year extension of the FERC-552 information collection requirements with no changes to the current reporting requirements.

Abstract: The Commission uses the information collected within the FERC-552 to provide greater transparency concerning the use of indices to price natural gas and how well index prices reflect market forces. The collection also includes transactions that contribute to, or may contribute to natural gas price indices. Many market participants rely on indices as a way to reference market prices without taking on the risks of active trading.

FERC-552 had its genesis in the Energy Policy Act of 2005,[1] which added section 23 of the Natural Gas Act (NGA). Section 23 of the NGA, among other things, directs the Commission “to facilitate price transparency in markets for the sale or transportation of physical natural gas in interstate commerce, having due regard for the public interest, the integrity of those markets, and the protection of consumers.” [2]

Type of Respondents: Wholesale natural gas market participants.

Estimate of Annual Burden: [3] The Commission estimates the total Public Reporting Burden for this information collection as:

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FERC-552 (IC12-9-000)—Annual Report of Natural Gas Transactions

Number of respondentsNumber of responses per respondentTotal number of responsesAverage burden hours per responseEstimated total annual burden
(A)(B)(A) × (B) = C(D)(C) × (D)
Wholesale natural market participants6911691106,910

The total estimated annual cost burden to respondents is $476,857 [6,910 hours ÷ 2,080 [4] hours/year = 3.32212 * $143,540/year [5] = $476,857].

The estimated annual cost of filing the FERC-552 per response is $690 [$476,857 ÷ 691 responses = $690/response].

Comments: Comments are invited on: (1) Whether the collection of information is necessary for the proper performance of the functions of the Commission, including whether the information will have practical utility; (2) the accuracy of the agency's estimate of the burden and cost of the collection of information, including the validity of the methodology and assumptions used; (3) ways to enhance the quality, utility and clarity of the information collection; and (4) ways to minimize the burden of the collection of information on those who are to respond, including the use of automated collection techniques or other forms of information technology.

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Dated: March 22, 2012.

Kimberly D. Bose,

Secretary.

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Footnotes

3.  Burden is defined as the total time, effort, or financial resources expended by persons to generate, maintain, retain, or disclose or provide information to or for a Federal agency. For further explanation of what is included in the information collection burden, reference 5 Code of Federal Regulations 1320.3(b)(1).

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4.  2,080 hours = 40 hours/week * 52 weeks (1 year).

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5.  Average annual salary per employee in 2012.

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[FR Doc. 2012-7507 Filed 3-28-12; 8:45 am]

BILLING CODE 6717-01-P