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Hearings & Rulemakings > Rulemakings >
Reporting financial transactions among regulated companies and their subsidiaries

The commission has adopted supplemental changes to new financial transaction reporting rules. (Docket No. 021178 For more information, see the "Documents" link at the bottom of this page.)

How does this proposed new rule differ from the rule proposed in Dec. 2004? It would:

    • Remove the "five business days prior to issuance" reporting requirement, returning to statutory language of reporting "before" issuance;
    • Remove the investment grade reporting waiver; and,
    • Repeal the rest of chapter 480-146 WAC and delete cross-references to chapter 480-146 WAC from the rules adopted on Feb.28 at WSR # 05-06-051.

During the course of this rulemaking, the Commission held three stakeholder workshops and provided five opportunities for written comments from stakeholders regarding the financial reporting rules.

The rules affect the following chapters of the Washington Administrative Code (WAC):
    • 480-70 (Solid Waste and/or Refuse Collection Companies),
    • 480-73 (Pipeline Companies),
    • 480-90 (Gas Companies),
    • 480-92 (Low-Level Radioactive Waste),
    • 480-100 (Electric Companies),
    • 480-110 (Water Companies), and
    • 480-120 (Telecommunications Companies) of the Washington Administrative Code (WAC).

The commission began considering these rules in response to increasing volatility in regulated transportation and utility businesses which posed difficult regulatory issues. Timely disclosure of transactions can improve the UTC's ability to regulate public utilities.

UTC Staff proposed rules that would require regulated companies to report certain financial transactions before they take effect, "pre-file" some contracts, and summarize all transactions between a company and its subsidiaries during the preceding year. As a result of input from workshops and written comments, the commission refined the financial reporting rules.

For more information, please contact Fred Ottavelli, Rulemaking Lead (360-664-1297) or Sharyn Bate (360-664-1295).

Posted/updated: 08/12/2005
Document list:
021178   Documents   Schedule   Orders   All
            
            
            
            

 

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