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Federal Register / Vol. 73, No.

83 / Tuesday, April 29, 2008 / Notices 23221

where feasible, and planted with native Any structures located within the public inspection. The Draft EA may
vegetation. WGC will implement BMPs floodplain would be designed in also be viewed on the Commission’s
to minimize adverse environmental accordance with the National Flood Web site at using
impacts during construction of road Insurance Program (NFIP) requirements the ‘‘eLibrary’’ link. Enter the docket
crossings. WGC has prepared and for nonresidential buildings and number (P–1864) excluding the last
submitted a Federal Section 404 structures located in special flood three digits in the docket number field
Authorization permit for water hazard areas. The NFIP regulations to access the document. For assistance,
resources impacts, including wetlands require vulnerable structures to be contact FERC Online Support at
impacts, and a State Section 401 permit constructed above the 100-year flood or toll-
under the Clean Water Act issued by elevation or to be watertight. In free at 1–866–208–3676, or for TTY,
USACE and WVDEP, respectively. DOE accordance with 10 CFR part 1022, DOE (202) 502–8659.
estimated that 0.26 acre of wetlands will will ensure through the cooperative Any comments should be filed by
be potentially impacted at the proposed agreement that WGC implements May 27, 2008, and should be addressed
power plant site by service roads, measures to mitigate the adverse to the Secretary, Federal Energy
stockpile areas, and water supply lines. impacts of actions in a floodplain or Regulatory Commission, 888 First
Under one option a cooling water wetlands, including but not limited to, Street, NE., Room 1–A, Washington, DC
intake structure, pump house, and minimum grading requirements, runoff 20426. Please reference the project name
pipeline would be used to withdraw controls, design and construction and project number (P–1864) on all
water from Meadow River. WGC is constraints. Whenever possible, WGC comments. Comments may be filed
currently looking at the best locations will avoid disturbing floodplains and electronically via Internet in lieu of
for these facilities to minimize wetlands and will minimize impacts to paper. The Commission strongly
disturbance of wetlands and the extent practicable, if avoidance is encourages electronic filings. See 18
floodplains. Prior to construction of a not possible. Impacts to floodplains and CFR 385.2001(a)(1)(iii) and the
permanent intake structure WGC must wetlands will be minimized through the instructions on the Commission’s Web
obtain a Section 404 Authorization implementation of engineering design site under the ‘‘eFiling’’ link. For further
permit from the USACE and Section 401 standards and BMPs (as described above information, contact Monica Maynard at
permit from the WVDEP. The Section under Mitigation, these measures are (202) 502–6013.
404 Authorization permit is required as contained in Appendix M (Volume 2) of Kimberly D. Bose,
a result of water resources impacts, the EIS). In addition, WGC will comply Secretary.
including wetlands impacts. The Water with state and Federal wetlands [FR Doc. E8–9298 Filed 4–28–08; 8:45 am]
Quality 401 Certification is required to permits, which may require additional
ensure that the project will not violate mitigation as well as compensatory
the state’s water quality standards or wetland replacement.
stream designated uses. Depending Issued in Washington, DC, on this 23rd day DEPARTMENT OF ENERGY
upon the final plant design and location of April, 2008.
of the water supply line from the sewage James A. Slutz, Federal Energy Regulatory
treatment plant, up to one additional Acting Principal Deputy Assistant Secretary, Commission
acre of wetlands and 120 linear feet Office of Fossil Energy. [RT01–99–000, RT01–99–001, RT01–99–002
‘‘waters of the U.S.’’ could be impacted. [FR Doc. E8–9329 Filed 4–28–08; 8:45 am] and RT01–99–003; RT01–86–000, RT01–86–
WGC is in the process of consulting BILLING CODE 6450–01–P 001 and RT01–86–002; RT01–95–000, RT01–
with the USACE concerning the wetland 95–001 and RT01–95–002; RT01–2–000,
permitting process to identify wetland RT01–2–001, RT01–2–002 and RT01–2–003;
impacts and methods for avoiding and RT01–98–000; RT02–3–000]
minimizing impacts and developing
suitable forms of wetland mitigation. Federal Energy Regulatory Regional Transmission Organizations;
Bangor Hydro-Electric Company, et al.;
Under all options for the transmission Commission
New York Independent System
line corridor from the proposed WGC
[Project No. 1864–079–MI & WI] Operator, Inc., et al.; PJM
power plant to the Grassy Falls
Interconnection, L.L.C., et al.; PJM
substation, construction activities Upper Peninsula Power Company; Interconnection, L.L.C.; ISO New
would be temporary and localized and Notice of Availability of Environmental England, Inc.; New York Independent
would not result in permanent impacts Assessment System Operator, Inc.; Notice of Filing
to existing 100-year floodplains. Where
the transmission line corridor would April 22, 2008. April 21, 2008.
cross a stream, new power line poles In accordance with the National Take notice that PJM Interconnection,
would be situated at maximum Environmental Policy Act of 1969 and L.L.C., New York Independent System
distances so as to not obstruct flood the Federal Energy Regulatory Operator, Inc. and ISO New England,
flows. Construction and operation of the Commission’s regulations, 18 CFR Part Inc. have posted on their internet Web
transmission line could impact 380 (Order No. 486, 52 FR 47879), the sites information updating their
approximately three acres of wetlands, Office of Energy Projects has reviewed progress on the resolution of RTO
of which 0.38 acres could be the proposed lake level amendment for seams.
permanently impacted as discussed the bond Falls Project, located in the Any person desiring to file comments
above in Biological Resources. Ontonagon River Basin in Ontonagon on this information should file with the
No floodplain or wetland impacts are and Gogebic Counties, Michigan and Federal Energy Regulatory Commission,
sroberts on PROD1PC70 with NOTICES

expected as a result of the fuel recovery Vilas County, Wisconsin, and has 888 First Street, NE., Washington, DC
efforts that would occur at the Anjean, prepared a Draft Environmental 20426, in accordance with Rules 211
Donegan, Green Valley, and Joe Knob Assessment (Draft EA). and 214 of the Commission’s Rules of
coal refuse sites to be used for fuel A copy of the Draft EA is on file with Practice and Procedure (18 CFR 385.211
supply to the project. the Commission and is available for and 385.214). All such comments

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23222 Federal Register / Vol. 73, No. 83 / Tuesday, April 29, 2008 / Notices

should be filed on or before the The Commission encourages in the oil pipeline proxy group. These
comment date. Comments may be filed electronic submission of protests and trends have made the MLP issue one of
electronically via the Internet in lieu of interventions in lieu of paper using the particular concern to the Commission
paper; see 18 CFR 385.2001(a)(1)(iii) ‘‘eFiling’’ link at and are the reason that the Commission
and the instructions on the Persons unable to file electronically issued the Proposed Policy Statement.2
Commission’s Web site under the ‘‘e- should submit an original and 14 copies 2. After review of an extensive record
Filing’’ link. The Commission strongly of the protest or intervention to the developed in this proceeding, the
encourages electronic filings. Federal Energy Regulatory Commission, Commission concludes: (1) MLPs
Comment Date: May 13, 2008. 888 First Street, NE., Washington, DC should be included in the ROE proxy
Kimberly D. Bose,
20426. group for both oil and gas pipelines; (2)
This filing is accessible on-line at there should be no cap on the level of
Secretary., using the distributions included in the
[FR Doc. E8–9300 Filed 4–28–08; 8:45 am] ‘‘eLibrary’’ link and is available for Commission’s current DCF
BILLING CODE 6717–01–P review in the Commission’s Public methodology; (3) the Institutional
Reference Room in Washington, DC. Brokers Estimated System (IBES)
There is an ‘‘eSubscription’’ link on the forecasts should remain the basis for the
DEPARTMENT OF ENERGY web site that enables subscribers to short-term growth forecast used in the
Federal Energy Regulatory receive e-mail notification when a DCF calculation; (4) there should be an
Commission document is added to a subscribed adjustment to the long-term growth rate
docket(s). For assistance with any FERC used to calculate the equity cost of
[Docket No. EL08–56–000] Online service, please e-mail capital for an MLP; and (5) there should, or call be no modification to the current
New Brunswick Power Transmission (866) 208–3676 (toll free). For TTY, call respective two-thirds and one-third
Corp., New Brunswick System (202) 502–8659. weightings of the short- and long-term
Operator, Northern Maine Independent Comment Date: 5 p.m. Eastern Time growth factors. Moreover, the
System Administrator, Inc., on May 8, 2008. Commission will not explore other
Complainants v. ISO New England, methods for determining a pipeline’s
Inc., Respondent; Notice of Complaint Kimberly D. Bose,
equity cost of capital at this time. The
Secretary. Commission also concludes that this
April 21, 2008.
[FR Doc. E8–9301 Filed 4–28–08; 8:45 am] Policy Statement should govern all gas
Take notice that on April 18, 2008,
New Brunswick Power Transmission BILLING CODE 6717–01–P and oil rate proceedings involving the
Corporation, New Brunswick System establishment of ROE that are now
Operator, and Northern Maine pending before the Commission,
DEPARTMENT OF ENERGY whether at hearing or in a decisional
Independent System Administrator, Inc.
(collectively, Complainants), pursuant Federal Energy Regulatory phase at the Commission.
to sections 206 and 306 of the Federal Commission I. Background
Power Act, 16 U.S.C. 824e, 825e, and
Rule 206 of Practice and Procedures of [Docket No: PL07–2–000] A. The DCF Model
the Commission’s regulations, 18 CFR 3. The Supreme Court has stated that
Composition of Proxy Groups for
385.206, hereby file this complaint ‘‘the return to the equity owner should
Determining Gas and Oil Pipeline
against ISO New England, Inc. (ISO– be commensurate with the return on
Return on Equity; Policy Statement
NE). Complainants state that this investments in other enterprises having
complaint is in response to the ISO–NE Issued April 17, 2008. corresponding risks. That return,
unilateral decision to arbitrarily limit Before Commissioners: Joseph T. Kelliher, moreover, should be sufficient to assure
the transfer capabilities at the New Chairman; Suedeen G. Kelly, Marc Spitzer, confidence in the financial integrity of
Brunswick/New England external Philip D. Moeller, and Jon Wellinghoff. the enterprise, so as to maintain its
interface, which, for the reasons set 1. On July 19, 2007, the Commission credit and to attract capital.’’ 3 Since the
forth in the complaint, is unjust, issued a proposed policy statement 1980s, the Commission has used the
unreasonable and unduly concerning the composition of the proxy DCF model to develop a range of returns
discriminatory. groups used to determine gas and oil earned on investments in companies
Any person desiring to intervene or to with corresponding risks for purposes of
pipelines’ return on equity (ROE) under
protest this filing must file in determining the ROE to be awarded
the Discounted Cash Flow (DCF)
accordance with Rules 211 and 214 of natural gas and oil pipelines.
model.1 Historically, in determining the
the Commission’s Rules of Practice and 4. The DCF model was originally
proxy group, the Commission required
Procedure (18 CFR 385.211, 385.214). developed as a method for investors to
that pipeline operations constitute a
Protests will be considered by the estimate the value of securities,
high proportion of the business of any
Commission in determining the including common stocks. It is based on
firm included in the proxy group.
appropriate action to be taken, but will
However, in recent years, there have
not serve to make protestants parties to 2 After an initial round of comments and reply
been fewer gas pipeline corporations
the proceeding. Any person wishing to comments, the Commission concluded that it
that meet that standard, in part because required additional comment on the issue of the
become a party must file a notice of
of the greater trend toward Master growth rates of MLPs. After notice to this effect and
intervention or motion to intervene, as the receipt of a round of initial and reply
Limited Partnerships (MLPs) in the gas
appropriate. The Respondent’s answer
sroberts on PROD1PC70 with NOTICES

comments, staff held a technical conference

pipeline industry. Additionally, there
and all interventions, or protests must involving an eight member panel on January 23,
are no oil corporations available for use 2008 that was transcribed for the record. Comments
be filed on or before the comment date.
and reply comments were filed thereafter.
The Respondent’s answer, motions to 1 Composition of Proxy Groups for Determining 3 FPC v. Hope Natural Gas Co., 320 U.S. 591
intervene, and protests must be served Gas and Oil Pipeline Return on Equity, 120 FERC (1944). Bluefield Water Works & Improvement Co.
on the Complainants. ¶ 61,068 (2007) (Proposed Policy Statement). v. Public Service Comm’n, 262 U.S. 679 (1923).

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