§16454 Exemption authority

Summary

The Commission must, within 90 days after this part takes effect, issue a final rule that says certain entities do not have to follow the federal books-and-records rule in section 16452. That exemption applies to a holding company only for one or more qualifying facilities under the Public Utility Regulatory Policies Act of 1978, and to exempt wholesale generators and to foreign utility companies. The Commission must also exempt a person or a kind of transaction from the same books-and-records rule if, after someone asks or the Commission starts the review, it finds the person’s records or that class of transactions are not relevant to the rates the Commission controls for public utilities or natural gas companies.