[Federal Register Volume 59, Number 249 (Thursday, December 29, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-32096]
[[Page Unknown]]
[Federal Register: December 29, 1994]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26199]
Filings Under the Public Utility Holding Company Act of 1935, as
amended (``Act'')
December 22, 1994.
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 January 17, 1995, to the Secretary, Securities and Exchange
Commission, Washington, D.C. 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.
Eastern Utilities Associates et al. (70-7287)
Eastern Utilities Associates (``EUA''), a registered holding
company, its wholly owned subsidiary company, EUA Cogenex Corporation
(``Cogenex''), and Cogenex's wholly owned subsidiary companies, EUA
Cogenex Canada Corporation (``Cogenex Canada''), and Northeast Energy
Management, Inc. (``NEM''), all of P.O. Box 2333, Boston,
Massachusetts, 02107, have filed a post-effective amendment under
section 11(b) of the Act to their application-declaration previously
filed under sections 6(a), 7, 9(a), 10, 12(c), 12(f) and 13(b) of the
Act and rules 42, 45, 87, 90 and 91 thereunder.
By Commission order dated December 19, 1986 (HCAR No. 24273)
(``1986 Order''), the Commission authorized EUA to acquire all of the
issued and outstanding capital stock of Citizens Heat and Power
Corporation, a Massachusetts corporation which provided energy
management services to institutional customers and which became EUA's
wholly owned subsidiary, Cogenex. The 1986 Order further authorized
Cogenex to expand its operations outside of New England provided that,
among other things, the revenues of Cogenex attributable to customers
located outside of New England remain less than the revenues
attributable to customers located within that area (the ``50%
Restriction'').
By Commission order dated September 17, 1992 (HCAR No. 25636)
(``1992 Order''), the Commission authorized Cogenex to include revenues
attributable to customers located in New York as revenues attributable
to New England for purposes of the 50% Restriction. Cogenex has also
been authorized to engage in consulting and to develop qualifying
cogeneration facilities under the Public Utility Regulatory Policies
Act of 1978 and the regulations thereunder. Such activities are not
subject to the 50% Restriction by virtue of the 1992 Order and a
subsequent Commission order dated September 30, 1994 (HCAR No. 26135)
(``1994 Order''). The revenues from NEM and Cogenex Canada are included
in the calculation of the 50% Restriction by order of the Commission
dated January 28, 1994 (HCAR No. 25982) and the 1994 Order,
respectively.
Cogenex management believes that (i) the 50% Restriction has become
an impediment to Cogenex's maximizing its potential opportunities and
(ii) the 50% Restriction is not mandated by the Act or prior Commission
precedent. Accordingly, Cogenex proposes that the Commission authorize
Cogenex to conduct its business activities without regard to the 50%
Restriction.
Energy Initiatives, Inc., et al. (70-8533)
Energy Initiatives, Inc. (``ELI'') and NCP Energy, Inc., each of
One Upper Pond Road, Parsippany, New Jersey 07054, and each a
nonutility subsidiary of General Public Utilities Corporation
(``GPU''), a registered holding company, have filed a declaration under
section 12(c) of the Act and rule 46 thereunder.
By order dated May 17, 1994 (HCAR No. 26053) (``May 1994 Order''),
among other things, EII was authorized to acquire all of the stock of
North Canadian Power Inc. (now known as NCP Energy, Inc.) (``NCP''), a
company engaged exclusively in the business of owning or leasing and
operating qualifying cogeneration facilities (``QFs''), as defined in
the Public Utility Regulatory Policies Act of 1978, as amended, and
developing other QFs and electric wholesale generators (``EWGs''), as
defined in section 32 of the Act.
NCP now proposes to distribute to EII, by way of a dividend, all of
NCP's assets other than certain assets related to its Syracuse
Cogeneration Project. NCP seeks authorization to declare and pay that
dividend out of capital or unearned surplus. The NCP assets to be
distributed to EII consist of all of the outstanding common stock
(``Common Stock'') of each current subsidiary of NCP. Such Common Stock
includes that of several subsidiaries in which NCP has indirect
ownership interests and which own viable QF and/or EWG projects,
including: NCP Commerce Power Incorporated, NCP Ada Power Incorporated,
NCP Dade Power Incorporated, NCP Pasco Incorporated, NCP Lake Power
Incorporated, NCP Gem Incorporated and Umatilla Groves Incorporated.
Such Common Stock also includes that of subsidiaries formed for
development stage QF and/or EWG projects, including: NCP Brooklyn Power
Incorporated, NCP New York Incorporated, NCP Houston Power Incorporated
and NCP Perry Incorporated.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-32096 Filed 12-28-94; 8:45 am]
BILLING CODE 8010-01-M
