18 CFR § 154.306 - Cash working capital.

---
identifier: "/us/cfr/t18/s154.306"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "18 CFR § 154.306 - Cash working capital."
title_number: 18
title_name: "Conservation of Power and Water Resources"
section_number: "154.306"
section_name: "Cash working capital."
chapter_name: "FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY"
subchapter_number: "E"
subchapter_name: "REGULATIONS UNDER NATURAL GAS ACT"
part_number: "154"
part_name: "RATE SCHEDULES AND TARIFFS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "15 U.S.C. 717-717w; 31 U.S.C. 9701; 42 U.S.C. 7102-7352."
regulatory_source: "Order 582, 60 FR 52996, Oct. 11, 1995, unless otherwise noted."
cfr_part: "154"
---


# 154.306 Cash working capital.

A natural gas company that files a tariff change under this part may not receive a cash working capital adjustment to its rate base unless the company or other participant in a rate proceeding under this part demonstrates, with a fully developed and reliable lead-lag study, a net revenue receipt lag or a net expense payment lag (revenue lead). Any demonstrated net revenue receipt lag will be credited to rate base; and, any demonstrated net expense payment lag will be deducted from rate base.