[Federal Register Volume 61, Number 134 (Thursday, July 11, 1996)]
[Notices]
[Pages 36589-36590]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17663]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26540]
Filings Under the Public Utility Holding Company Act of 1935, as
amended (``Act'')
July 5, 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 July 29, 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.
American Electric Power Company, Inc. (70-5943)
American Electric Power Company, Inc. (``AEP''), 1 Riverside Plaza,
Columbus, Ohio 43215, a registered holding company, has filed a post-
effective amendment to its declaration under sections 6(a), 7, 32 and
33 of the Act and rules 53 and 54 thereunder.
By orders dated January 3, 1986 (HCAR No. 23980), December 18, 1987
(HCAR No. 24534), December 27, 1990 (HCAR No. 25233) and December 1,
1993 (HCAR No. 25936), the Commission authorized AEP to issue and sell,
through December 31, 1996, up to 44 million shares of its authorized
but unissued shares of common stock, $6.50 par value (``Common
Stock''), pursuant to its Dividend Reinvestment and Stock Purchase Plan
(``Plan''). Through May 15, 1996, a total of 43,416,621 shares of
Common Stock had been issued and sold, leaving a balance of 583,379
shares of Common Stock (``Remaining Shares'').
By order dated May 10, 1996 (HCAR No. 26516), the Commission
authorized, among other things, the use of proceeds of the issuance and
sale of up to ten million shares of Common Stock, including Common
Stock issued under the Plan, for the acquisition of interests in exempt
wholesale generators (``EWGs'') and foreign utility companies
(``FUCOS''), subject to a limitation on such investments to an amount
equal to 50% of AEP's consolidated retained
[[Page 36590]]
earnings, in accordance with rule 53 under the Act.
AEP now proposes to extend the time period during which it may
issue and sell the Remaining Shares, and issue and sell an additional
ten million shares of Common Stock, pursuant to the Plan, through
December 31, 2000. As a result thereof, AEP will have total
authorization under the Plan to issue and sell up to 54 million shares
of Common Stock.
The proceeds of the issuance and sale of the additional shares of
Common Stock will be used: (1) To pay, at maturity, unsecured debt of
AEP; (2) to make additional investments in the common stock equities of
AEP's subsidiaries; and (3) for other general corporate purposes,
including the acquisition of interests in EWGs and FUCOs.
Entergy Corporation, et al. (70-8861).
Entergy Corporation (``Entergy''), 639 Loyola Avenue, New Orleans,
Louisiana 70113, a registered holding company, and two of its wholly-
owned subsidiaries, Entergy Operations, Inc. (``Entergy Operations''),
Echelon One, 1340 Echelon Parkway, Jackson, Mississippi 29213 and
Entergy Services, Inc. (``Entergy Services'' and together with Entergy
and Entergy Operations, ``Applicants''), 639 Loyola Avenue, New
Orleans, Louisiana 70113, have filed an application-declaration under
sections 6(a), 7, 9(a), 10 and 13 of the Act and rules 45, 86, 87, 90
and 91.
Appicants requests authority for Entergy to establish a new
subsidiary named Entergy Nuclear, Inc. (``Entergy Nuclear''), to serve
as a holding company for one or more wholly-owned special purpose
companies (``Subsidairies''). Entergy Nuclear will, directly or through
the subsidiaries, provide nuclear plant operations, management and
other nuclear-related services and products to domestic and foreign
nonassociate companies. All such nuclear-related services and any
related products would be provided to nonassociates at market prices.
Entergy Services provides certain administrative, financial, and
support services to associates in the Entergy system. To support the
sale by Entergy Nuclear of services to nonassociates, Applicants
propose that Entergy Services enter into a service agreement with
Entergy Nuclear. Under this agreement, Entergy Services may provide to
Entergy Nuclear certain administrative and support services that will
enable Entergy Nuclear to provide such services to nonassociates.
Entergy Nuclear will reimburse Entergy Services for these services at
cost, in accordance with rules 90 and 91 under the Act. Additionally,
each of Entergy Nuclear and Entergy Services may provide to the other
intellectual property it has developed or otherwise acquired.
Entergy Operations currently operates and manages the five nuclear
power generating plants in the Entergy system, which are owned by
certain Entergy subsidiaries (``System Nuclear Owners''). To support
the sale by Entergy Nuclear of services to nonassociates, Applicants
propose that Entergy Operations enter into an agreement with Entergy
Nuclear. Under this agreement, Entergy Operations will provide to
Entergy Nuclear certain services and products related to nuclear
business operations, including the sharing and/or loaning of personnel,
that will enable Entergy Nuclear to provide such services to
nonassociates.
Under the agreement between Entergy Operations and Entergy Nuclear,
Entergy Nuclear may also provide certain services and products related
to nuclear business operations, including the sharing and/or loaning of
personnel, to Entergy Operations. Each of Entergy Operations and
Entergy Nuclear will reimburse the other for services rendered under
the agreement at cost, in accordance with rules 90 and 91.
The agreement between Entergy Nuclear and Entergy Operations will
also provide that each may provide to the other intellectual property
it has developed or otherwise acquired. Under the agreement, Entergy
Nuclear may sell to nonassociates rights to intellectual property
obtained under the agreement from Entergy Operations, provided that no
such sale would prohibit or restrict the continued use of such property
by Entergy Operations or the System Nuclear Owners.
Applicants additionally propose that Entergy Nuclear provide
certain nuclear-related services and products and administrative and
support services to each of the Subsidiaries pursuant to a separate
agreement with each such Subsidiary. Each such agreement will also
provide for the provision of services related to nuclear business
operations by the Subsidiary to Entergy Nuclear.
Services provided by either Entergy Nuclear or the Subsidiary under
such an agreement may involve the sharing and/or loaning of personnel
from time to time. These services will be provided in accordance with
rules 90 and 91. Additionally, each of Entergy Nuclear and a Subsidiary
may, under a service agreement between the two, provide to the other
certain intellectual property it has developed or otherwise acquired.
Entergy requests authority to make investments in Entergy Nuclear,
at one time or from time to time, up to an aggregate amount of $10
million outstanding at any one time through December 31, 2001. Such
investments may take the form of (1) purchase of common stock, (2)
capital contributions and open accounts, (3) loans, (4) guarantees of
securities or other obligations, or (5) any combination thereof.
Further, Entergy Nuclear proposes, through December 31, 2001, to lend
to, or act as co-surety or indemnitor with respect to the securities or
other obligations of, the Subsidiaries for amounts aggregating up to
$10 million.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-17663 Filed 7-10-96; 8:45 am]
BILLING CODE 8010-01-M
