Proposed Transfers, Financing, Corporate Reorganization, and Lightened Regulation of a Generati...
NY-ADR
2/8/17 N.Y. St. Reg. PSC-06-17-00012-P
NEW YORK STATE REGISTER
VOLUME XXXIX, ISSUE 6
February 08, 2017
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-06-17-00012-P
Proposed Transfers, Financing, Corporate Reorganization, and Lightened Regulation of a Generating Facility
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 for a proposed transfer of ownership interests in TC Ravenswood and TC Services, a proposed financing, a corporate reorganization, and continuation of lightened regulation.
Statutory authority:
Public Service Law, sections 2(13), (22), (23), 5(1)(b), 64, 65, 66, 68, 69, 69-a, 70, 78, 79, 80, 81, 82, 82-a, 83, 105-108 and 110-111
Subject:
Proposed transfers, financing, corporate reorganization, and lightened regulation of a generating facility.
Purpose:
To consider the proposed transfers, financing, corporate reorganization, and lightened regulation of a generating facility.
Substance of proposed rule:
The New York State Public Service Commission is considering a Petition filed by TC Ravenswood, LLC (“TC Ravenswood”), TC Ravenswood Services Corp. (“TC Services”), and Helix Generation, LLC (Helix Generation) (collectively, the “Petitioners”) under Sections 69, 70, 82, and 83 of the Public Service Law (“PSL”). The Petitioners are seeking an order pursuant to PSL § 70 authorizing a proposed transfer of ownership interests in TC Ravenswood, an electric corporation which owns and operates the Ravenswood Generating Station located in Queens, New York, from TransCanada Facility USA, Inc. (“TC Facility”) to Helix Generation. Petitioners also request approval of a proposed transfer of ownership interests in TC Services, a steam corporation, from TC Facility to Helix Generation pursuant to PSL § 83, as well as approval under PSL §§ 69 and 82 of a planned financing in an amount not to exceed $2.5 billion to support the proposed transfers and for other lawful purposes. Petitioners further propose an intra-corporate restructuring, request confirmation that TC Ravenswood will continue to be subject to lightened regulation as a New York electric corporation after the proposed transfers are consummated, and that an affiliate will continue not to be considered an electric or steam corporation subject to Commission regulation under the PSL. The full text of the petition 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 relief 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:
Kathleen H. Burgess, 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:
45 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.
(17-E-0016SP1)
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