Transfer of Ownership Interests, Proposed Financing and the Continuation of Lightened Regulatio...

NY-ADR

1/3/18 N.Y. St. Reg. PSC-40-17-00008-A
NEW YORK STATE REGISTER
VOLUME XL, ISSUE 1
January 03, 2018
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
NOTICE OF ADOPTION
 
I.D No. PSC-40-17-00008-A
Filing Date. Dec. 15, 2017
Effective Date. Dec. 15, 2017
Transfer of Ownership Interests, Proposed Financing and the Continuation of Lightened Regulation
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 12/14/17, the PSC adopted an order approving Danskammer Holdings LLC, et al.'s (Danskammer) petition for a transfer of ownership interests in Danskammer Energy, proposed financing and the continuation of the lightened regulatory regime.
Statutory authority:
Public Service Law, sections 2(12), (13), 5(1)(b), 5-b, 64, 65, 66, 69 and 70
Subject:
Transfer of ownership interests, proposed financing and the continuation of lightened regulation.
Purpose:
To approve Danskammer's petition for a transfer of ownership interests, proposed financing and continuing lightened regulation.
Substance of final rule:
The Commission, on December 14, 2017, adopted an order approving Danskammer Holdings LLC (Danskammer Holdings), Danskammer Energy, LLC (Danskammer Energy), Mercuria Energy America, Inc. (MEAI), and Mercuria Investments US, Inc.’s (MIUS), petition for Danskammer Holdings to acquire controlling interests in Danskammer Energy, the direct owner of an approximately 500 MW electric generating facility located in Newburgh, New York, from MEAI and MIUS. Danskammer Holdings is also approved to issue long-term debt relative to the proposed transfer, up to a maximum amount of $66 million and the existing lightened regulatory regime applied to Danskammer Energy should be continued after the proposed ownership transfer is consummated. Also, the applicable filing requirements of 16 NYCRR Parts 31.1, 37.1, and 39.1, which specify the contents of petitions for authority under PSL §§ 69 and 70, are waived, subject to the terms and conditions set forth in the order.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
John Pitucci, Public Service Commission, Three Empire State Plaza, Albany, New York, 12223, (518) 486-2655, email: [email protected] An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(17-E-0551SA1)
End of Document