[Federal Register Volume 62, Number 18 (Tuesday, January 28, 1997)]
[Notices]
[Pages 4087-4088]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1956]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26649]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
Janaury 21, 1997.
Notice is hereby given that the following filing(s) has/have been
made with the Commission pursuant to provisions of the Act and rules
promulgated thereunder. All interested persons are referred to the
application(s) and/or declaration(s) for complete statements of the
proposed transaction(s) summarized below. The application(s) and/or
declaration(s) and any amendments thereto is/are available for public
inspection through the Commission's Office of Public Reference.
Interested persons wishing to comment or request a hearing on the
application(s) and/or declaration(s) should submit their views in
writing by February 17, 1997, to the Secretary, Securities and Exchange
Commission, Washington, DC 20549, and serve a copy on the relevant
applicant(s) and/or declarant(s) at the address(es) specified below.
Proof of service (by affidavit or, in case of an attorney at law, by
certificate) should be filed with the request. Any request for hearing
shall identify specifically the issues of fact or law that are
disputed. A person who so requests will be notified of any hearing, if
ordered, and will receive a copy of any notice or order issued in the
matter. After said date, the application(s) and/or declaration(s), as
filed or as amended, may be granted and/or permitted to become
effective.
Public Service Company of Colorado (70-8985)
Public Service Company of Colorado (``PSCo''), a public-utility
holding company exempt from regulation pursuant to rule 2 under section
3(a)(2) of the Act, has filed an application under section 3(b) of the
Act in connection with its proposed acquisition of a public utility
company operating exclusively outside of the United States (``Foreign
Utility'').
PSCo states that neither Foreign Utility nor any of its subsidiary
companies (1) Is a public-utility company operating in the United
States or, (2) following the proposed acquisition, will serve any
customers in the Untied States. PSCo further states that Foreign
Utility does not derive any income from United States operations or
sources within the United States.
PSCo states that due to tax, legal and regulatory considerations,
it may be advisable to structure the acquisition
[[Page 4088]]
using one or more intermediate special purpose subsidiaries
(collectively, ``PSCo Subs''). As special purpose subsidiaries to be
formed for the primary purpose of acquiring an interest in Foreign
Utility, PSCo Subs will derive no income from United States operations
and will not be public-utility company operating in the United States.
PSCo Subs will not engage in any business other than the acquisition of
Foreign Utility, supervision of PSCo's investments in Foreign Utility
and the participation in the management and operations of Foreign
Utility.
PSCo states that it will not seek recovery through higher rates to
its customers or the customers of its public-utility subsidiary,
Cheyenne Light, Fuel and Power Company (``CLF&P''), to compensate it
for any possible loss that it might sustain by reason of the proposed
Foreign Utility investment or for any inadequate returns on such
investment. PSCo has further undertaken to apply to the Colorado Public
Utilities Commission and CLF&P has undertaken to apply to the Wyoming
Public Service Commission, which have jurisdiction over the respective
companies' retail electric and gas rates, for certification that each
commission has the authority and resources to protect ratepayers
subject to its jurisdiction and that it intends to exercise its
authority in connection with the proposed Foreign Utility investment.
PSCo represents that its domestic utility operations will be fully
separated from its foreign operations.
As a result of the proposed acquisition, Foreign Utility will be a
public-utility subsidiary of PSCo within the meaning of section 2(a)(8)
of the Act. PSCo requests an unqualified order under section 3(b) of
the Act exempting Foreign Utility from all provisions of the Act
applicable to it as a subsidiary company of PSCo. The application
states that, if an unqualified exemption under section 3(b) is granted,
the PSCo Subs will rely upon the exemption provided by rule 10(a)(1)
under the Act with respect to Foreign Utility, and PSCo will rely upon
rule 11(b)(1) to provide an exemption from the approval requirements of
sections 9(a)(2) and 10 to which it would otherwise be subject.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-1956 Filed 1-27-97; 8:45 am]
BILLING CODE 8010-01-M
