[Code of Federal Regulations]
[Title 18, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 18CFR35.19a]

[Page 278-279]
 
           TITLE 18--CONSERVATION OF POWER AND WATER RESOURCES
 
  CHAPTER I--FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY
 
PART 35_FILING OF RATE SCHEDULES AND TARIFFS--Table of Contents
 
                   Subpart C_Other Filing Requirements
 
Sec. 35.19a  Refund requirements under suspension orders.

    (a) Refunds. (1) The public utility whose proposed increased rates 
or charges were suspended shall refund at such time in such amounts and 
in such manner as required by final order of the Commission the portion 
of any increased rates or charges found by the Commission in that 
suspension proceeding not to be justified, together with interest as 
required in paragraph (a)(2) of this section.
    (2) Interest shall be computed from the date of collection until the 
date refunds are made as follows:
    (i) At a rate of seven percent simple interest per annum on all 
excessive rates or charges held prior to October 10, 1974;
    (ii) At a rate of nine percent simple interest per annum on all 
excessive rates or charges held between October 10, 1974, and September 
30, 1979; and
    (iii)(A) At an average prime rate for each calendar quarter on all 
excessive rates or charges held (including all interest applicable to 
such rates or charges) on or after October 1, 1979. The applicable 
average prime rate for each calendar quarter shall be the arithmetic 
mean, to the nearest one-hundredth of one percent, of the prime rate 
values published in the Federal Reserve Bulletin, or in the Federal 
Reserve's ``Selected Interest Rates'' (Statistical Release G. 13), for 
the fourth, third, and second months preceeding the first month of the 
calendar quarter.
    (B) The interest required to be paid under clause (iii)(A) shall be 
compounded quarterly.
    (3) Any public utility required to make refunds pursuant to this 
section shall bear all costs of such refunding.
    (b) Reports. Any public utility whose proposed increased rates or 
charges were suspended and have gone into effect pending final order of 
the Commission pursuant to section 205(e) of the Federal Power Act shall 
keep accurate account of all amounts received under the increased rates 
or charges which became effective after the suspension period, for each 
billing period,

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specifiying by whom and in whose behalf such amounts are paid.

[44 FR 53503, Sept. 14, 1979, as amended at 45 FR 3889, Jan. 21, 1980; 
Order 545, 57 FR 53990, Nov. 16, 1992]