[Federal Register Volume 63, Number 69 (Friday, April 10, 1998)]
[Notices]
[Pages 17906-17907]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-9464]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26855]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
April 3, 1998.
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 April 28, 1998, 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.
New Century Energies, Inc., et al. (70-9007)
New Century Energies, Inc. (``NCE''), a registered holding company,
Public Service Company of Colorado (``PSCo''), Cheyenne Light, Fuel and
Power Company (``Cheyenne''), New Century Services, Inc., WestGas
Interstate Inc., NC Enterprises, Inc., New Century International, Inc.,
and its subsidiary companies, e prime, inc. and its subsidiary
companies PS Colorado Credit Corporation (``PSCCC''), Natural Fuels
Corporation, PSR Investments, Inc., Green & Clear Lakes Company, 1480
Welton, Inc., each located at 1225 Seventeenth Street, Denver, Colorado
80202-5534, and Southwestern Public Service Company (``SPS''), Tyler at
Sixth, Amarillo, Texas 79101, and Quixx Corporation and its subsidiary
companies, Amarillo National's Plaza/Two, 500 South Tyler, Suite 1100,
Lobby Box 254, Amarillo, Texas 79101-2442, and Utility Engineering
Corporation and its subsidiary companies, each located at Utility
Engineering Plaza, 5601 I-40 West, Amarillo, Texas 79101-4605
(collectively, ``Applicants''),\1\ have filed a post-effective
amendment under sections 6(a), 7 and 12(b) of the Act and rules 43, 45
and 53 under the Act to their application-declaration under sections
6(a), 7, 9(a), 10, 12(b), 12(c), 32 and 33 of the Act and rules 42, 43,
45 and 53 under the Act.
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\1\ Fuel Resources Development Company was an applicant in the
original filing. Since then it has been dissolved.
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By order dated August 1, 1997 (HCAR No. 26750) (``August 1997
Order''), the Commission authorized, through December 31, 1999:
(1) External financings (``External Financings'') by PSCo, SPS and
Cheyenne (``Utility Subsidiaries''), NCE and certain of its nonutility
subsidiaries; (2) intrasystem financing, including guarantees, among
NCE and its subsidiary companies and among subsidiary companies; (3)
the issuance of types of securities not exempt under rules 45 and 52;
(4) the Utility Subsidiaries to enter into risk management instruments;
(5) NCE's subsidiary companies to alter their capital stock; and (6)
the formation by NCE's subsidiary companies of new financing entities
and the issuance of securities and related guarantees by the new
financing entities and one existing financing entity.
The External Financing authorized in the August 1997 Order include:
(1) The issuance by NCE of common stock, par value $1.00 per share,
(``Common Stock'') for an aggregate offering price of up to $535
million (exclusive of Common Stock issued for benefit plans and divided
reinvestment plans), and (2) short-term debt aggregating not more than
$100 million outstanding at any one time, which limit is to increase by
an additional $125 million in the event that PSCCC, presently a
subsidiary of PSCo, becomes a direct subsidiary of NCE. The intrasystem
financing authorization includes $50 million for guarantee and credit
support arrangements among the subsidiaries of NCE.
Applicants now propose that the August 1997 Order be modified to
increase the amount of: (1) Common Stock issuances by NCE (exclusive of
Common Stock issued for benefit plans and dividend reinvestment plans)
from $535 million to $745 million; (2) short-term debt issuances and
sales from $100 million to $200 million (with the retention of the $125
million increase in
[[Page 17907]]
the event that PSCCC becomes a direct subsidiary of NCE); and (3)
nonexempt guarantees and credit support arrangements among the
subsidiaries of NCE from $50 million to $100 million. In addition,
Applicants propose to use the proceeds from the various financings
authorized by the August 1997 Order, as modified by an order
authorizing this post-effective amendment, to invest in ``energy-
related companies'' within the meaning of rule 58 under the Act,
subject to the limitations of rule 58(a)(1).
American Electric Power Company, Inc. (70-9191)
American Electric Power Company, Inc. (``AEP''), 1 Riverside Plaza,
Columbus, Ohio 43215, a registered holding company, has filed a
declaration under section 12(b) of the Act and rule 45.
American Electric Power Service Corporation (``AEPSC''), AEP's
service company subsidiary, leases office space (``Premises'') for its
employees under an agreement dated as of October 11, 1979 with American
Property Investors IX (``Investors''), as amended to date (``Lease'').
AEPSC agreed in the Lease to pay an initial annual lease amount of
$458,636, through December 31, 2009. It can extend the Lease for four
successive five-year terms. The annual lease amount for each additional
term would be determined by the market, provided that the new annual
payment does not exceed the initial annual lease amount.
On April 1, 1995, Ohio Power Company (``OPCo''), an operating
company subsidiary of AEP and an associate company of AEPSC, occupied
the Premises. Concurrently, AEPSC, OPCo and American Real Estate
Holdings Limited Partnership (``American Real Estate''), as successor
to Investors, entered into an assignment of the Lease (``Assignment''),
dated as of April 1, 1995. Under the terms of the Assignment, AEPSC was
released from, and OPCo assumed, all of the liabilities under the
Lease.
Due to a recent office realignment, AEPSC intends to once again
occupy the Premises and will reassume its obligations under the Lease.
In connection with its assumption of these obligations, AEP now
requests authority to enter into an agreement with American Real Estate
to guarantee AEPSC's obligations under the Lease.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 98-9464 Filed 4-9-98; 8:45 am]
BILLING CODE 8010-01-M
