Acquisition of Common Stock of a New York Electric Corporation
NY-ADR
9/24/14 N.Y. St. Reg. PSC-38-14-00015-P
NEW YORK STATE REGISTER
VOLUME XXXVI, ISSUE 38
September 24, 2014
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
PROPOSED RULE MAKING
NO HEARING(S) SCHEDULED
I.D No. PSC-38-14-00015-P
Acquisition of Common Stock of a New York Electric Corporation
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 of T. Rowe Price Associates, Inc. for authorization to acquire up to 20 percent of the common stock of FirstEnergy Corp. and other related relief.
Statutory authority:
Public Service Law, sections 65, 66 and 70
Subject:
Acquisition of common stock of a New York electric corporation.
Purpose:
Consideration of a proposed acquisition of stock of FirstEnergy Corp. and other relief related to such acquisition.
Substance of proposed rule:
The Public Service Commission is considering whether to approve, modify or reject, in whole or in part, a petition of T. Rowe Price Associates, Inc. (TRP) for authorization to allow it to acquire up to 20 percent of the common stock of FirstEnergy Corp. TRP also requests that the Commission declare that TRP will not be deemed an “electric corporation” under New York law as a result of such acquisition. TRP also requests other relief related to the proposed acquisition such as the waiver of certain portions of Part 39 of the Commission’s regulations requiring financial disclosure, including §§ 39.1(a), 39.1(c) and 39.1(d) for the reasons stated in its petition.
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:
Deborah Swatling, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2659, 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.
(14-E-0384SP1)
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