For those of us that are affected by the repeal of the 1935 Public
Utility Holding Act and the record keeping requirement put forth under
17CFR257; the 2005 PUHCA final rule was published today in the Federal
Register.  Introductory paragraph 12.4, is of particular interest and is
as follows:

(4) Unless otherwise exempted by Commission rule or order, all 
holding companies and service companies must maintain and make 
available to the Commission their books and records. In addition, all 
holding companies and all service companies that do not currently 
follow the Commission's record-retention requirements in Parts 125 and 
225 of the Commission's regulations, as applicable, will be required to 
transition to the Commission's requirements by January 1, 2007. Holding 
companies registered under PUHCA 1935 that currently follow the SEC's 
record-retention rules in 17 CFR Part 257, and their service companies, 
have the option to follow either the Commission's or the SEC's record-
retention rules, as they exist on the day before the effective date of 
PUHCA 2005, for calendar year 2006, but these entities must transition 
to the Commission's record-retention rules by January 1, 2007. And, as 
noted above, holding companies, unlike traditional, centralized service 
companies, will not be required to comply with the Commission's Uniform 
System of Accounts.

Michael Levey
SCANA Corp.

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