Issuance of Securities and Other Forms of Indebtedness
NY-ADR
4/28/21 N.Y. St. Reg. PSC-17-21-00008-P
NEW YORK STATE REGISTER
VOLUME XLIII, ISSUE 17
April 28, 2021
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-17-21-00008-P
Issuance of Securities and Other Forms of Indebtedness
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:
Proposed Action:
The Commission is considering a petition filed by Niagara Mohawk Power Corporation d/b/a National Grid requesting multi-year authority to issue up to $3 billion of new long-term debt securities.
Statutory authority:
Public Service Law, section 69
Subject:
Issuance of securities and other forms of indebtedness.
Purpose:
To provide funding for capital needs, including construction, refinancing of maturing debt.
Substance of proposed rule:
The Commission is considering a petition by Niagara Mohawk Power Corporation d/b/a National Grid (Company), filed on March 31, 2021, requesting authority to issue long-term indebtedness pursuant to Public Service Law Section 69.
Specifically, the Company requests authority to issue up to $3 billion in long-term debt securities through June 30, 2024. The proceeds from the sale of such securities would be used to finance the construction of utility plant; refinance maturing and/or redeemed issues of debt; redeem preferred stock, if economical; finance the capital needs of the Company; and other general corporate purposes.
The full text of the petition and the full record of the proceeding may be reviewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may adopt, reject, or modify, in whole or in part, the action proposed and may resolve related matters.
Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:
John Pitucci, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email: [email protected]
Data, views or arguments may be submitted to:
Michelle L. Phillips, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email: [email protected]
Public comment will be received until:
60 days after publication of this notice.
Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement
Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(21-M-0194SP1)
| End of Document |