The statement reads:
“On March 15, 2018, FERC issued a Notice of Proposed Rulemaking (NOPR) and revised policy statement to address the treatment of income taxes for ratemaking purposes. There are two separate avenues for these changes to be addressed: the first is a NOPR, which focuses on evaluating and addressing impacts to pipeline tariffs in regards to income tax rate changes enacted through the tax cuts and Jobs Act of 2017 (US tax reform); and the second is a revision to FERC's long-standing income tax allowance policy to no longer permit master limited partnerships (MLPs) to recover an income tax allowance in their cost of service rates.
