18 CFR §16.18

1. (a)This section applies to projects with licenses subject to sections 14 and 15 of the Federal Power Act.
2. (b)The Commission will issue an annual license to an existing licensee under the terms and conditions of the existing license upon expiration of its existing license to allow:
   1. (1)The licensee to continue to operate the project while the Commission reviews any applications for a new license, a nonpower license, an exemption, or a surrender;
   2. (2)The orderly removal of a project, if the United States does not take over a project and no new power or nonpower license or exemption will be issued; or
   3. (3)The orderly transfer of a project to:
      1. (i)The United States, if takeover is elected; or
      2. (ii)A new licensee, if a new power or nonpower license is issued to that licensee.
3. (c)An annual license issued under this section will be considered renewed automatically without further order of the Commission, unless the Commission orders otherwise.
4. (d)In issuing an annual license, the Commission may incorporate additional or revised interim conditions if necessary and practical to limit adverse impacts on the environment.