[Federal Register Volume 61, Number 111 (Friday, June 7, 1996)]
[Notices]
[Pages 29150-29152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-14356]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26526]
Filings Under the Public Utility Holding Company Act of 1935, As
Amended (``Act'')
May 31, 1996.
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 June 24, 1996, 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.
Columbia Gas System, Inc., et al. (70-8471)
Columbia Gas System, Inc. (``Columbia''), 20 Montchanin Road,
Wilmington, Delaware, 19807, a registered holding company; nineteen
wholly-owned subsidiary companies of Columbia,\1\ all of which are
engaged in the natural gas business; twelve subsidiary companies of
TriStar Ventures (``TriStar Ventures Subsidiaries''); \2\ Columbia
Service Partners, Inc. (``Columbia Service''), 121 Hill Pointe Drive,
Suite No. 100, Cannonsburg, Pennsylvania, 15317, a non-utility
subsidiary of Columbia; and TriStar System, Inc. (``TriStar System''),
20 Montchanin Road, Wilmington, Delaware, 19807, a non-utility
[[Page 29151]]
subsidiary of Columbia, have filed a post-effective amendment to the
application-declaration previously filed under Section 6, 7, 9(a), 10,
12(b), 12(c), and 12(f) of the Act and Rules 42, 43, 45, and 46
thereunder.
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\1\ Columbia Gas of Pennsylvania, Inc. (``Columbia
Pennsylvania''), 200 Civic Center Drive, Columbus, Ohio, 43215;
Columbia Gas of Ohio, Inc. (``Columbia Ohio''), 200 Civic Center
Drive, Columbus Ohio, 43215; Columbia Gas of Maryland, Inc.
(``Columbia Maryland''), 200 Civic Center Drive, Columbus, Ohio,
43215; Columbia Gas of Kentucky, Inc. (``Columbia Kentucky''), 200
Civic Center Drive Columbus, Ohio, 43215; Commonwealth Gas Services,
Inc. (``Commonwealth Services''), 200 Civic Center Drive, Columbus,
Ohio, 43215; Columbia Gulf Transmission Co. (``Columbia Gulf''),
1700 MacCorkle Avenue, S.E., Charleston, West Virginia, 25314;
Columbia Gas Development Corp. (``Columbia Development''), One
Riverway, Houston, Texas, 77056; Columbia Natural Resources, Inc.
(``Columbia Resources''), 900 Pennsylvania Avenue, Charleston, West
Virginia, 25302; Columbia Coal Gasification Corp. (``Columbia
Coal''), 900 Pennsylvania Avenue, Charleston, West Virginia, 25302;
Columbia Energy Services Corp. (``Columbia Services''), 121 Hill
Pointe Drive, Suite No. 100, Cannonsburg, Pennsylvania, 15317;
Columbia Gas System Service Corp. (``Service Corporation''), 20
Montchanin Road, Wilmington, Delaware, 19807; Columbia Propane Corp.
(``Columbia Propane''), 800 Moorefield Park Drive, Richmond,
Virginia, 23236; Commonwealth Propane, Inc. (``Commonwealth
Propane''), 800 Moorefield Park Drive, Richmond, Virginia, 23236;
TriStar Ventures Corp. (``TriStar Ventures''), 20 Montchanin Road,
Wilmington, Delaware, 19807; TriStar Capital Corp. (``TriStar
Capital''), 20 Montchanin Road, Wilmington, Delaware, 19807;
Columbia Atlantic Trading Corp (``Columbia Atlantic''), 20
Montchanin Road, Wilmington, Delaware, 19807; Columbia LNG Corp., 20
Montchanin Road, Wilmington, Delaware, 19807; Columbia Gas
Transmission Corp. (``Gas Transmission''), 1700 MacCorkle Avenue,
S.E., Charleston, West Virginia, 25314; and Columbia Energy
Marketing Corp. (``Energy Marketing''), 121 Hill Pointe Drive, Suite
No. 100, Cannonsburg, Pennsylvania, 15317.
\2\ TriStar Pedrick Limited Corporation, TriStar Pedrick General
Corporation, TriStar Binghamton Limited Corporation, TriStar
Binghamton General Corporation, TriStar Vineland Limited
Corporation, TriStar Vineland General Corporation, TriStar Rumford
Limited Corporation, TriStar Georgetown General Corporation, TriStar
Georgetown Limited Corporation, TriStar Fuel Cells Corporation, TVC
Nine Corporation, and TVC Ten Corporation, all of 20 Montchanin
Road, Wilmington, Delaware, 19807.
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By Order dated December 22, 1994 (HCAR No. 26201), Columbia, and
fourteen of the subsidiary companies,\3\ were authorized to
recapitalize Columbia Gulf, Columbia Development, and Columbia Coal, to
implement the 1995 and 1996 Long-Term and Short-Term Financing Programs
of the Subsidiaries, and to continue the Intrasystem Money Pool
(``Money Pool'') through 1996.
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\3\ Columbia Pennsylvania, Columbia Ohio, Columbia Maryland,
Columbia Kentucky, Commonwealth Services, Columbia Gulf, Columbia
Development, Columbia Resources, Columbia Coal, Services
Corporation, Columbia Propane, Commonwealth Propane, TriStar
Capital, and Columbia Atlantic.
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By order dated March 14, 1995 (HCAR No. 26251), the TriStar
Ventures Subsidiaries were authorized to invest in, but not to borrow
from, the Money Pool. By order dated November 8, 1995 (HCAR No. 26404),
Gas Transmission and Energy Marketing were authorized to invest in, but
not to borrow from, the Money Pool. By Order dated February 16, 1996
(HCAR No. 26471), Columbia was authorized to revise the cost of money
on all short-term advances from, and the investment rate for money
invested in, the Money Pool.
Columbia now proposes that Columbia Service and TriStar System be
included as potential investors in the Money Pool.\4\ Columbia also
requests authorization, through December 31, 1996, to include in the
Money Pool as potential investors any new direct or indirect
subsidiaries engaged in new lines of business established pursuant to
an order of the Commission or any new direct or indirect subsidiaries
engaged in existing lines of business.
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\4\ Service Partners was formed on March 21, 1996 by Columbia
Services to provide energy-related services to customers of local
distribution companies (``LDCs'') affiliated with Columbia and non-
affiliated LDCs served by Columbia interstate natural gas
transmission companies. TriStar System was formed on September 28,
1995 by TriStar Ventures to engage in natural gas vehicle
activities.
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General Public Utilities Corporation, et al. (70-8829)
General Public Utilities Corporation, 100 Interpace Parkway,
Parsippany, New Jersey 07054, a registered holding company (``GPU''),
and its subsidiaries, Jersey Central Power & Light Company, 300 Madison
Avenue, Morristown, New Jersey 07962 (``JCP&L''), Metropolitan Edison
Company, P.O. Box 16001, Reading, Pennsylvania 19640 (``Met-Ed''),
Pennsylvania Electric Company, P.O. Box 16001, Reading, Pennsylvania
19640 (``Penelec'') and Energy Initiatives, Inc., One Upper Pond Road,
Parsippany, New Jersey 07054 (``EI''); (together with GPU, JCP&L, Met-
Ed and Penelec, the ``EIM Applicants''), and GPU Service Corporation,
100 Interpace Parkway, Parsippany, New Jersey 07054 (``GPUSC''), have
filed an application-declaration pursuant to sections 9(a), 10, 12(b)
and 13(b) of the Act and rules 45, 90 and 91 thereunder.
The EIM Applicants believe that there are business opportunities
that they may wish to pursue which involve energy information and
management (``EIM'') systems. EIM systems employ interactive technology
which, among other things, enables customers to automatically and
remotely control HVAC and other appliance usage in response to variable
energy pricing, thus providing customers with more control over their
electric usage and costs. EIM systems also allow utilities to implement
various demand-side management and load-control programs, and to
remotely read the customers' meters. EIM systems also store customer
load profile data and allow utilities to remotely access such data for
forecasting and marketing purposes. EIM systems may also provide
opportunities for real-time inter-active communications with customers
with respect to a wide variety of information, products and services
that are not exclusively energy-related. Communications may be
effectuated through, but not limited to, fiber optics, radio, paging or
personal communications systems.\5\
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\5\ See The Southern Company, Holding Co. Act Release No. 26221
(January 25, 1995) (Southern was authorized to develop, purchase,
construct, own or operate a prototype energy management
communications network to provide both energy-related and nonenergy-
related services, including fire, intrusion and health alarm
monitoring services).
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One or more of the EIM Applicants have been engaged in discussions
with nonassociate EIM system companies (each, an ``EIMCo'') which
design, manufacture, fabricate, integrate, market and distribute EIM
system and components, or the enabling technology for EIM systems,
which are in various stages of development, testing and deployment.
These discussions, to date, have addressed two different approaches to
possible involvement with EIM systems. First, JCP&L, Met-Ed and Penelec
have discussed limited deployment of EIM systems to their respective
electric utility customers within their respective service territories
as part of a pilot program, looking towards possible broad-based
deployment among their respective electric utility customers.\6\ In
addition, one or more of the EIM Applicants may acquire an interest in
the business of designing, manufacturing, fabricating, integrating,
marketing and distributing EIM systems to non-customers both within and
beyond the boundaries of the service territories of JCP&L, Met-Ed and
Penelec (collectively, the ``EIM Business''), either directly, through
the acquisition of securities of an EIMCo, or, alternatively, through
new wholly-owned or partly-owned subsidiary compan(ies), to be formed
(each, an ``EIM Subsidiary''), or through a joint venture involving any
of the foregoing and an EIMCo or an EIMCo affiliate (each, and ``EIM
JV'').\7\ Notwithstanding the foregoing, GPU will not acquire a direct
interest in the EIM Business other than through the acquisition of
securities of an EIMCo.
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\6\ See Leidy Hub, Inc., Holding Co. Act Release No. 26048 (May
6, 1994) (National Fuel Gas Company was authorized to make a series
of equity investments in Leidy Hub, Inc., which was developing and
commercializing an automatic remote meter reading system).
\7\ See Eastern Utilities Assoc. et al., Holding Co. Act Release
No. 26232 (February 15, 1995) (EUA was permitted to expand its
energy management services business beyond its service territory and
without regard to the 50% revenue limitation previously imposed by
the Commission in similar matters).
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The EIM Applicants therefore propose to: (1) Engage in the EIM
Business; and (2) acquire the securities of an EIMCo or one or more EIM
Subsidiaries or, directly or indirectly, one or more EIM JVs. It is
also requested that the Commission authorized the provision of goods
and services relating to the EIM Business: (1) To JCP&L, Met-Ed and
Penelec by EI or any EIM Subsidiaries or EIM JVs; and (2) to any EIM
Subsidiaries and EIM JVs by GPUSC, all of which goods and services will
be provided at cost in compliance with Rules 90 and 91 under the Act.
For this purpose, each EIM Applicant, EIM Subsidiary and EIM JV will
maintain separate financial records relating to the EIM Business. The
aggregate amount of the EIM Applicants' investment in the EIM Business
will not exceed $50 million through December 31, 1998.
The EIM Applicants or any EIM Subsidiaries or EIM JVs may provide
financing to utility customers within the respective service
territories of JCP&L, Met-Ed or Penelec through direct loan and
operating or finance lease arrangements in connection with, for
example, a customer's purchase of EIM systems either from an EIM
Applicant, affiliate or a third party. The ability to make such loans
would include participation in or facilitating customer
[[Page 29152]]
access to government energy-related loan programs. Interest on loans
and imputed interest on lease payments will range from zero percent to
the then prevailing market rate. The obligations may either be secured
or unsecured, will generally be evidenced by promissory notes and will
have maturities not exceeding five years. The aggregate amount of such
outstanding obligations at any one time will not exceed $20 million.
The authorization requested with respect to the acquisition of
securities of an EIMCo or any EIM Subsidiaries or EIM JVs shall expire
upon the first to occur of: (1) December 31, 1998; and (2) the adoption
by the Commission of proposed rule 58 (HCAR No. 26313, June 20, 1995)
or such other rule, regulation or order as shall exempt the
transactions as proposed from section 9(a) of the Act. The
authorization requested with respect to financing transaction shall,
upon the enactment of Rule 58, extend to any energy-related company, as
defined in Rule 58, which is a subsidiary company of GPU and engaged in
the EIM Business.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-14356 Filed 6-6-96; 8:45 am]
BILLING CODE 8010-01-M
