[Federal Register Volume 61, Number 145 (Friday, July 26, 1996)]
[Notices]
[Pages 39165-39166]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18993]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-26545]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
July 19, 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 August 12, 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 premitted to become
effective.
Applachian Power Company (70-8873)
Appalachian Power Company (``APCo''), 40 Franklin Road, Roanoke,
Virginia 24022, a wholly-owned electric utility subsidiary of American
Electric Power Company, Inc. (``AEP''), a registered holding company,
has filed an application under sections 9 and 10 of the Act and rules
53 and 54 thereunder.
APCo's central machine shop, located in South Charleston, West
Virginia (``Shop''), renovated, rebuilds and modifies major pieces of
power plant equipment, such as turbine shells and rotors, pump rotors,
motors and similar equipment used by AEP system companies in their
power plant generation operations. APCo requests authorization for the
Shop to perform work for nonaffiliates of the same type it currently
performs for AEP system companies for an initial period through
December 31, 2001.
APCo expects that the current annual level of power plant equipment
maintenance required by AEP system companies will remain constant in
the future. Due to the increasingly cyclical nature of power plant
maintenance, APCo proposes to perform work for nonaffiliates during
Shop's reduced workload periods, thereby avoiding layoffs of
experienced personnel, promoting more efficient use of assets and labor
and lowering the average cost of work to user AEP system companies.
APCo intends to charge nonaffiliates a price that will include a profit
component. Revenues derived from work performed for nonaffiliates would
be used to reduce Shop overheads, thereby lowering the cost of
maintenance services to AEP system companies.
CSW International, Inc., et al. (70-8885)
Centeral and South West Corporation (``CSW''), a registered holding
company, 1616 Woodall Rodgers Freeway, Dallas, Texas 75202, and its
nonutility subsidiaries, CSW International, Inc. (``CSWI'') and CSW
Energy, Inc. (``Energy''), both of 1616 Woodall Rodgers Freeway,
Dallas, Texas 75202, have filed an application-declaration under
sections 6(a), 7 and 12(b) of the Act and rule 45 thereunder.
Since 1990, CSW, directly or through its wholly-owned subsidiary,
Energy, has engaged in development activities involving, among other
types of facilities, exempt wholesale generators (``EWGs''), as defined
in section 32 of the Act. Since 1994, CSW, directly or through its
wholly-owned subsidiary, CSWI, has engaged in development and
investment activities relating to EWGs and foreign utility companies
(``FUCOs''), as defined in section 33 of the Act. By orders of the
Commission,\1\ CSW is authorized to finance the operations of Energy,
CSWI and their respective subsidiaries through acquisitions of
securities, capital contributions, open account advances, loans,
guarantees and other forms of credit support. In respect of Energy, CSW
is authorized, among other things, to make loans, capital contributions
and
[[Page 39166]]
open account advances (collectively, the ``Advances'') through December
31, 2000, in an aggregate amount not to exceed $250 million.
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\1\ See HCAR Nos. 26417 (Nov. 28, 1995); 26416 (Nov. 28, 1995);
and 26383 (Sept. 27, 1995).
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Energy intends to issue up to $500 million aggregate principal
amount of debt securities from time to time through December 31, 2006
(the ``Securities'') to third parties.\2\ The applicants state that the
third parties will have no recourse to CSW or any of its domestic
public utility subsidiaries in respect of the Securities. From time to
time, Energy will loan all or a portion of the proceeds of the sale of
the Securities to CSWI,\3\ which will use the proceeds to invest in
EWGs and FUCOs. From time to time, Energy will use all or portion of
the proceeds of the sale of the Securities to invest in EWGs.
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\2\ Applicants state that the Securities will be issued pursuant
to the exemption afforded by rule 52.
\3\ Applicants state that the loans will also be exempt pursuant
to rule 52.
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CSWI requests authorization, during the period ending five years
after issuance of the Commission's order in this matter, the guarantee
Energy's performance obligations under the Securities. No fees or
interest will be paid to CSWI by Energy or any other associate company
in connection with the guaranty. In addition, CSW will not seek
reimbursement of the Advances until the maturity of the Securities. The
applicants state that any funds separately provided by CSW to Energy or
CSWI, in the form of intercompany loans, capital contributions and open
account advances, will not be used by Energy or CSWI, as the case may
be, towards their respective obligations under the Securities.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 96-18993 Filed 7-25-96; 8:45 am]
BILLING CODE 8010-01-M
