FERC proposes to amend Part 33 of its
regulations to grant a blanket authorization under section
203(a)(2) of the Federal Power Act (FPA), as well as a parallel
blanket authorization under section 203(a)(1), for acquisitions of
10 percent or more, but less than 20 percent, of the outstanding
voting securities of a public utility or holding company, where the
acquiring company files a statement certifying that such securities
were not acquired and are not held for the purpose or with the
effect of changing or influencing the control of the public utility
and such acquiring company complies with certain conditions
designed to limit its ability to exercise control (as documented in
an Affirmation in Support of Exemption from Affiliation
Requirements (Affirmation)/FERC-519C).
US Code:
16
USC 824b Name of Law: Federal Power Act
US Code: 16
USC 824d Name of Law: Federal Power Act
FERC proposes to amend its
regulations to provide greater certainty with respect to certain
transactions in which a holding company acquires voting securities
of a public utility. Specifically, the Commission proposes to amend
Part 33 of its regulations to grant a blanket authorization under
section 203(a)(2) of the Federal Power Act (FPA), as well as a
parallel blanket authorization under section 203(a)(1), for
acquisitions of 10 percent or more, but less than 20 percent, of
the outstanding voting securities of a public utility or holding
company, where the acquiring company files a statement certifying
that such securities were not acquired and are not held for the
purpose or with the effect of changing or influencing the control
of the public utility and such acquiring company complies with
certain conditions designed to limit its ability to exercise
control (all as set forth in an Affirmation in Support of Exemption
from Affiliation Requirements on FERC Form 519-C (Affirmation). The
Commission also proposes to amend Subpart H and Subpart I of Part
35 of the Commission regulations to define an affiliate of a
specified company as any person that controls, is controlled by, or
is under common control with such specified company. A public
utility in respect of which an Affirmation has been filed would be
exempt from certain requirements of an affiliate for purposes of
the Commissions market-based rate program, but only with respect
to current or subsequent affiliation(s) that result from the
transaction that is the subject of such Affirmation and only for so
long as the information contained in the Affirmation (as modified
through subsequent quarterly updates) is true, complete and
correct. The proposed Affirmation would create a rebuttable
presumption for purposes of section 203 that the investor does not
control the public utility whose voting securities it has acquired.
The Affirmation is a representation by the filer and does not
operate as a conclusive finding that the investor does not control
the public utility, which the Commission finds would be necessary
for an ownership interest of 10 percent or more, and less than 20
percent, of the outstanding voting securities of a public utility
to fall outside of the definition of affiliate, as used in its
regulations under Part 35.
$34,970
No
No
Uncollected
Uncollected
No
Uncollected
Andrew Mosier 202 502-6274
andre.mosier@ferc.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.