§825a Rates of depreciation; notice to State authorities before fixing

Summary

The Commission can, after holding a hearing, require licensees and public utilities to keep proper depreciation accounts and follow the rules and forms the Commission sets. The Commission can decide and fix the right depreciation rates for different kinds of property, and each licensee or utility must use those rates in its accounts. They must not record depreciation for property types or at percentages other than what the Commission sets. They also must not list the same depreciation cost more than once in their expenses. A State commission still may set depreciation rates for its own use when it has authority over a public utility. Before the Commission makes rules about accounts, records, or depreciation rates, it must notify any State commission that has authority over the utility involved, give that State a fair chance to comment, and consider the State’s views.