[Federal Register Volume 64, Number 185 (Friday, September 24, 1999)]
[Notices]
[Pages 51809-51810]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24913]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 35-27076]
Filings Under the Public Utility Holding Company Act of 1935, as
Amended (``Act'')
September 20, 1999.
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 under the Act. All interested persons are referred to the
application(s) and/or declaration(s) for complete statements of the
proposed transactions(s) summarized below. The application(s) and/or
declarations(s) and any amendments is/are available for public
inspection through the Commission's Branch of Public Reference.
Interested persons wishing to comment or request a hearing on the
applications(s) and/or declaration(s) should submit their views in
writing by October 12, 1999, to the Secretary, Securities and Exchange
Commission, Washington, D.C. 20549-0609, 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 should identify specifically the issues of facts 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 October 12, 1999, the application(s) and/or
declaration(s), as filed or as amended, may be granted and/or permitted
to become effective.
Columbia Energy Group, et.al. (70-9491)
Columbia Energy Group (``Columbia''), 13880 Dulles Corner Lane,
Herndon, Virginia 20171-4600, a registered holding company, and its
nonutility subsidiary companies, Columbia Energy Group Service
Corporation (``CES''), Columbia LNG Corporation, CLNG Corporation, Cove
Point LNG Limited Partnership, Columbia Atlantic Trading Corporation,
Columbia Energy Services Corporation, Columbia Energy Retail
Corporation (``CRC''), Columbia Energy Power Marketing Corporation
(``CPM''), Columbia Energy Marketing Corporation (``CEM''), Energy.Com
Corporation (``Energy.Com''), Columbia Service Partners, Inc.
(``CSP''), Columbia Assurance Agency, Inc. (``CAA''), Columbia Energy
Group Capital Corporation, Columbia Transmission Communications
Corporation, Tristar Gas Technologies, Inc., Enertek Partners, L.P.,
Columbia Pipeline Corporation, Columbia Deep Water Services
Corporation, Columbia Finance Corporation, Columbia Accounts Receivable
Corporation, Columbia Electric Corporation, Columbia Electric Pedrick
Limited Corporation, Columbia Electric Pedrick General Corporation,
Columbia Electric Binghamton Limited Corporation, Columbia Electric
Binghamton General Corporation, Columbia Electric Vineland Limited
Corporation, Columbia Electric Vineland General Corporation, Columbia
Electric Rumford Limited Corporation, Columbia Electric Limited
Holdings Corporation, Columbia Electric Liberty Corporation, Columbia
Electric Gregory Remington Corporation, and Columbia Electric Gregory
General Corporation, all located at 13880 Dulles Corner Lane, Herndon,
Virginia 20171-4600; Columbia Energy Resources, Inc., Columbia Natural
Resources, Inc., Alamco-Delaware, Inc., Hawg Hauling & Disposal, Inc.,
Phoenix-Alamco Ventures, L.L.C., and Columbia Natural Resources Canada,
Ltd., all
[[Page 51810]]
located c/o 900 Pennsylvania Avenue, Charleston, West Virginia 25302;
Columbia Gas Transmission Corporation and Millennium Pipeline, L.P.,
both located at 12801 Fair Lakes Parkway, Fairfax, Virginia 22030-0146;
Columbia Gulf Transmission Company, Trailblazer Pipeline Company, and
CGT Trailblazer, L.L.C., all located at 2603 Augusta, Suite 125,
Houston, Texas 77057; Columbia Network Services Corporation, CNS
Microwave, Inc., and Energynet, L.L.C., all located at 1600 Dublin
Road, Columbus, Ohio 43215-1082; Columbia Propane Corporation and
Atlantic Energy, Inc., both located at 9200 Arboretum Parkway, Suite
140, Richmond, Virginia 23236; and Columbia Insurance Corporation,
Ltd., Craig Appin House, 8 Wesley Street, Hamilton HM EX, Bermuda, have
filed an application-declaration under sections 6(a), 7, 9(a), 10 and
12(c) of the Act and rules 42, 43, 45, and 54 under the Act.
In summary, applicants seek increased flexibility to restructure
Columbia's nonutility holdings from time to time as may be necessary or
appropriate in the furtherance of its authorized nonutility activities.
The restructuring could involve the formation of one or more new
special-purpose subsidiaries to hold direct or indirect interests in
any or all of the Columbia system's existing or future authorized
nonutility businesses. The restructuring could also involve the
transfer of existing subsidiaries, or portions of existing businesses,
among Columbia associates and/or the reincorporation of existing
subsidiaries in a different state.\1\ This flexibility would enable the
Columbia system to consolidate similar businesses and to participate
effectively in authorized nonutility activities, without the need to
apply for or receive additional Commission approval.
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\1\ This reincorporation could take place by merging an existing
subsidiary with a new successor incorporated in the desired state.
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These direct or indirect subsidiaries might be corporations,
partnerships, limited liability companies or other entities in which
Columbia, directly or indirectly, might have a 100% interest, a
majority equity or debt position, or a minority debt or equity
position. These subsidiaries would engage only in businesses to the
extent the Columbia system is authorized, whether by statute, rule
regulation or order.
As an example, Columbia intends to restructure the interests held
by its wholly-owned gas marketing subsidiary, CES. Currently, CES has
several subsidiaries engaged in various nonutility businesses. These
subsidiaries include CEM, CPM,\2\ CRC, CSP, CAA, and Energy.Com. CEM is
engaged in the marketing of gas produced by its associate company
Columbia Energy Resources, Inc. (formerly named Columbia Natural
Resources, Inc.). CPM is an energy products company that markets and
brokers various forms of energy, including electric energy, natural
gas, manufactured gas, propane, natural gas liquids, oil, refined
petroleum and petroleum products, coal and/or wood products and
emissions allowances. CRC is engaged in retail electric and gas
marketing activities within the United States. CSP provides energy-
related services to industrial commercial and residential customers
nationwide. CAA, a wholly-owned subsidiary of CSP, was formed to comply
with the requirements of state law in connection with bill insurance
activities. Energy.Com is an exempt telecommunications company that
provides energy consumers access to information on products of
affiliated and non-affiliated companies offering energy and energy
related products and services, as well as educational information on
the energy industry in general.
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\2\ Columbia announced its intention to sell its wholesale gas
and electric trading operations in an August 30, 1999 press release.
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Specifically, Columbia would reorganize CES and its subsidiaries
under a new, first-tier subsidiary (``CES Holdings''). Applicants
currently contemplate that CES Holding will own all of the outstanding
voting securities of CES, CEM, CPM, CRC, CSP, CAA, and through CES,
Energy.COM. Applicants state that each of CES Holdings' subsidiaries
will continue to engage in their current activities. CAA will serve as
a licensed broker in connection with authorized bill insurance
activities.
The proposed restructuring would be accomplished by CEG
contributing the stock of CES to a newly-formed, special-purpose
subsidiary, CES Holdings, followed by the sale by CES of all the
outstanding stock of its subsidiaries, other than Energy.Com, to CES
Holdings.\3\ However Columbia may, under the proposed authority, adopt
a different structure or employ a different method of reorganization,
to accomplish the reorganization of CES' nonutility interests.
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\3\ Columbia also intends, under the requested authority, to
reincorporate CES in the state of Delaware.
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Columbia will obtain funds for initial and subsequent investments
in its new subsidiaries from internally generated funds and/or the
proceeds of otherwise authorized financing transactions. Should
Columbia provide funds to its new subsidiaries which are then applied
to investments in exempt wholesale generators, foreign utility
companies, or companies formed in accordance with rule 58, the amount
of such funds will be included in the investment limitations imposed by
rule 53 or rule 58, as applicable.
For the Commission by the Division of Investment Management,
under delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-24913 Filed 9-23-99; 8:45 am]
BILLING CODE 8010-01-M
