11/19/08 N.Y. St. Reg. PSC-47-08-00005-P
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 New York State Electric & Gas Corporation and Rochester Gas & Electric Corporation requesting permission to issue stock.
Statutory authority:
Public Service Law, section 69
Subject:
Petition in compliance with the September 9, 2008 Abbreviated Order in Case 07-M-0906 to establish a Bankruptcy Preferred Share.
Purpose:
To authorize the issuance of Preferred Bankruptcy Share for NYSEG and RG&E in compliance with the Abbreviated Order.
Substance of proposed rule:
On October 27, 2008, in compliance with the Commission's September 9, 2008 Abbreviated Order in Case 07-M-0906, New York State Electric & Gas Corporation (NYSEG) and Rochester Gas and Electric Corporation (RG & E) submitted a petition seeking authority to create and issue for NYSEG and RG & E respectively, a discrete class of Limited Voting Junior Preferred Stock consisting of one share; and respectively issue a single share of the Limited Voting Junior Preferred Stock to a party that will be designated by NYSEG and RG & E and approved by the Commission or to an entity designated by the Commission with the right to object to and oppose a voluntary bankruptcy filing by NYSEG and/or RG & E, as applicable. The Commission may adopt, reject or modify, in whole or in part, the relief proposed.
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.state.ny.us/f96dir.htm. For questions, contact:
Leann Ayer, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 486-2655, email:
leann_ayer@dps.state.ny.usData, views or arguments may be submitted to:
Jaclyn A. Brilling, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, (518) 474-6530, email:
jaclyn_brilling@dps.state.ny.usPublic 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.
