§717h Rates of Depreciation

Summary

The Commission can order natural gas companies, after a hearing, to keep proper depreciation and amortization accounts and to follow rules and forms the Commission sets. The Commission can decide and fix the proper depreciation and amortization rates for each kind of property used in producing, transporting, or selling natural gas. Companies must use those rates, must not charge depreciation for property types the Commission did not approve, and must not use different percentage rates than the Commission set. They also must not list the same depreciation cost more than once. A State commission can still decide what depreciation rates to allow for rate-making for companies under its own jurisdiction. Before making rules about accounts, records, or depreciation rates, the Commission must tell each State commission that has jurisdiction over any affected natural gas company, give them a fair chance to speak, and consider their views.